Pensions

Think about what kind of lifestyle you would like to lead in the future. If you are eligible, you can use the Pension Planner tool in your account once you log in which will show you an estimate of the pension you may receive at a future date(s) based on your current pension information. If you are unable to log in to your account or you do not have access to the Pension Planner tool, you can contact the administration team for retirement quote estimates. Their details can be found in the Contact us page of this website.

Neither the trustees of the Scheme/Plan nor the Scheme/Plan administrators are able to provide financial advice, but they strongly recommend that you contact an Independent Financial Adviser (IFA) to assist you in making your retirement decisions. If you do not have a financial adviser, unbiased.co.uk can put you in contact with a selection of advisers in your area. You can visit their website at www.unbiased.co.uk. IFAs usually charge a fee for their services.

You can retire from the pension Scheme/Plan once you have reached your Normal Retirement Age (NRA). However, you may be able to retire prior to your NRA, details can be found in the Can I take early retirement? section.

You can currently take early retirement from age 55 however this is increasing to age 57 from 6 April 2028. It may be possible for you to take early retirement before age 55 (or age 57 from 6 April 2028) if you are suffering from ill health which means you can no longer work. Please refer to your Scheme/Plan booklet for more detail.

You can submit a request through your account if you log in or by contacting the administration team whose details can be found in the Contact us section of the website.  

The Scheme/Plan may accept transfers, please refer to your Scheme/Plan booklet or contact the administration team to find out if this is possible. We would recommend you speak to a financial adviser before transferring any other pensions you have into the Scheme/Plan. Please note the administrators cannot provide you with financial advice. You can visit Unbiased to help you find a financial adviser in your local area. Advisers will usually charge a fee for their services.

You may be eligible to transfer your pension benefits out of the Scheme/Plan, providing you and the receiving scheme meet the relevant criteria. You can submit a request through your account if you log in or by contacting the administration team whose details can be found in the Contact us section of the website.  

We would recommend you speak to a financial adviser before transferring pensions benefits out of the Scheme/Plan.  Please note the administrators cannot provide you with financial advice. You can visit Unbiased to help you find a financial adviser in your local area. Advisers will usually charge a fee for their services.

Should you decide to transfer your benefits you should be aware of potential pension scams. Educating yourself and remaining vigilant are key to minimising the risk posed by pensions scams. For further information on scams please read the 'Avoiding pension scams' page on this website.

There may be benefits payable to your Spouse and/or Dependants in the event of your death. Please read your Scheme/Plan booklet for further information on death benefits.

We also strongly recommend that you do your best to keep your Expression of Wish Form updated. This information aids the Trustee(s) in their decision so that the benefits are paid according to your wishes. You can view and update your nominated beneficiaries in your account once you log in. If you are unable to log in, you can contact the administration team to do this. Their details can be found in the Contact us page of the website.

This is only applicable to members with Defined Contribution (DC) benefits. Lifestyling is an investment strategy that automatically switches your money from funds that are designed to grow your pension pot when you are younger into lower risk funds as you approach your Target Retirement Age (TRA).