In most cases the earliest age you can retire under the Scheme is at age 55. Please contact the Administration team to confirm this.

If you are an active member, please contact your Human Resources Department.

If you are a deferred member, please contact the Administration team. You will need to include your Membership Number or National Insurance Number, as well as two pieces of personal information.

The Administration team will send you a quotation with the appropriate forms (where applicable), within 5 to 10 working days of receipt of your request. If you would like to proceed, please complete the forms and return them with any certificates (e.g. birth) as requested.

Upon receipt, the team will immediately return any certificates you have sent. Any lump sums due will be paid at the appropriate time.

The Administration team will

• Arrange for payment at the appropriate time. If you hold AVC, this will be treated separately
• Set up your pension benefit, with arrears if applicable
• Confirm your first payment, when it will be made, and what it comprises
• Liaise with HMRC to determine your tax code, and make any necessary adjustments to your pension.

Any regular monthly payments will be paid and increased in line with your Notice of Pension previously issued.

This is the maximum amount of pension savings that you can receive tax relief on in one year. If you go over the Annual Allowance, you will have to pay a tax charge.

The Annual Allowance is £60,000 for most people in the 2024/25 tax year.

It's your responsibility to keep track of your Annual Allowance. You can ask your various pension administrators for a statement showing how much Annual Allowance you have used up in that Scheme.

You will be taxed on your highest marginal rate on any benefits above the Annual Allowance.

Read more about the Annual Allowance on www.gov.uk/tax-on-your-private-pension