Early retirement through ill-health

If you have to leave Service with the Company at any age due to ill-health, you may be granted an immediate early retirement pension. Two categories of ill-health pension are available - the level which applies will depend on the view of the Company’s medical adviser as to the extent of your ill-health.

Total Incapacity Pension (meaning you cannot undertake any paid employment)

The calculation of the pension under this category will be based on your potential Pensionable Service to your Normal Retirement Date and your Final Pensionable Earnings at the date you retire. The amount payable will not be reduced to take account of early payment.

Serious Incapacity Pension (meaning you cannot undertake your current job or a similar job)

The calculation of the pension under this category will be based on your completed Pensionable Service and your Final Pensionable Earnings at the date you retire.  The amount payable will not be reduced to take account of early payment.

Your Service must have stopped for an ill-health pension to be payable.

If you are in ill-health and do not expect to live for longer than a year, you may be able to take the entire value of your pension from the DB Section as a lump sum, subject to meeting certain conditions and tax limits

If you are in receipt of a pension due to ill-health, you should tell the Trustee if your health or working circumstances change. The Trustee may review and (if appropriate to do so) reduce, increase or suspend that pension.

For more information about the process of retiring due to ill-health please refer to the Ill-health retirement How to Guide which can be found in the How to Guides section of this website.