Flexible retirement

You may apply for Company consent from age 55 to continue working at the same time as drawing your pension. This option is designed to help people who wish to ease into retirement by moving to a part-time or reduced role, without a significant effect on their personal finances. (An immediate pension will not be payable unless the early retirement pension at least equals any guaranteed minimum pension that is due from your GMP payment date.)

If you wish, you may then apply to rejoin the Scheme under the DC Section and start paying contributions into a Pension Account to build up further future pension benefits and maintain your life assurance cover. However, you will be asked to complete a medical declaration and your life assurance cover may be restricted.

If drawing pension while continuing to work for the Company is of interest to you, please contact your HR department.

Contact the Pensions Department for more information.