Summary of benefits

Deferred Pension Benefits

Deferred Pension

A deferred pension based on your Final Pensionable Pay and your Pensionable Service is payable from age 62 (for males) or age 57 (for females).

It is payable at any time after age 55 (50 for females) if you have at least 10 years' Pensionable Service (or earlier, with Trustee and Principal Company consent, in cases of ill health) at an appropriately reduced rate.

Transfers

As an alternative to a deferred pension, you can transfer your accrued benefits (including your Additional Voluntary Contributions) to another tax-approved or tax-qualified pension scheme – such as your new employer's scheme or a personal or stakeholder pension plan – so long as that scheme agrees to and can accept the transfer.

Spouse's Pension

If you die before retirement with a deferred pension and you are married, a Spouse's Guaranteed Minimum Pension is payable in respect of pre-6 April 1997 service.

For full details of deferred pension benefits, download the Deferred Pension Benefits factsheet (206kb).

The Pensions Department
AW House
6-8 Stuart Street
Luton
Beds
LU1 2SJ

Telephone:
01582 282956 or
01582 282957

Email:
team@thepensiondepartment.co.uk