Late retirement

If you stay in Service with the Company after your Normal Retirement Date you can continue to build up pension benefits until you complete the maximum period of Pensionable Service (which is 40 years for most members). If you continue working with the Company after completing the maximum period of Pensionable Service and you do not take flexible retirement, your benefits are increased by a factor decided by the Trustee as advised by the Scheme Actuary to make up for the late payment of your pension. Should you die while employed after your Normal Retirement Date, benefits will be paid to your Spouse, Civil Partner, Dependant(s) or children as described for death of an Active member but by reference only to completed Pensionable Service.

For more information on how to retire after your Normal Retirement Date please refer to the Late retirement How to Guide which can be found in the How to Guides section of this website.