Retiring

Congratulations – you’re getting ready to retire! Here’s an overview of the process for making it happen.

Step one

Request a retirement pack from the Scheme administrator, EQ. If you’re retiring at your normal retirement age, they’ll usually send you one automatically six months before this with a personal statement of your benefits.

Step two

Get some financial advice if you need more support.

Step three

Decide how you’re going to take your pension.

See ‘Your retirement choices’ below.

Step four

Complete the relevant forms from EQ to process your retirement choice.

Step five

Start enjoying your retirement.

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Be alert to the dangers of pension scams. Always check the companies you’re talking to are specifically authorised to deal with pensions and are listed on the FCA register.

Your retirement choices

You have some choices to make about how you’d like to take your pension from the DB Section. Your options include:

Getting advice

If you’re considering a transfer, we recommend that you take independent financial advice from a registered pension adviser. The Trustee has negotiated discounted rates for members with Isio Wealth Planning or you can use MoneyHelper to find your own adviser.