Below you will find a high-level process map showing the various steps involved in drawing your pension after you have passed your Normal Retirement Date. For more information please refer to the Retirement guide.
Click on the numbers below to reveal more information about each step.
You may be able to defer the payment of your pension until a date later than your Normal Retirement Date. However, this is not an automatic right and you will need to obtain the Trustee’s agreement.
Once you pass your Normal Retirement Date you will need to request a quotation from the Administration Team.
You will receive your retirement illustration by post. It may be a couple of weeks before this is provided.
Once you have decided how you wish to take your benefits simply complete and return all the documents. You will need to provide originals of the certificates requested but these will be returned to you in a couple of days.
Once you have returned the documentation, the Administration Team will undertake all the final checks in readiness to start paying your pension.
Once all the checks have been completed, the Administration Team will update your record in readiness to start paying your pension.
The day has arrived. You are now a Pensioner member of the DB Section.
If you chose to take some of your benefits in the form of a lump sum this will be paid directly to your chosen bank account on your retirement date, or as soon as practical after this date.
The Administration Team will write to you confirming everything has been arranged. Please allow 14 weeks for this to be completed.
On average it takes around 14 weeks from the date you request a retirement quotation to the date you’ll receive your first pension payment. This timescale varies from member to member. Some factors that can increase the time it takes are shown below: