Early Retirement from Active Service

With the agreement of the Trustee and/or the Company, after you reach the age of 55 you can retire at any time and receive an immediate pension if you are an active member.

Early retirement pensions are calculated using the same formula as for normal retirement benefits but using Final Pensionable Salary and Pensionable Service to the date of early retirement. An early retirement factor (determined with help from the Plan Actuary) will also be applied to take account of the fact that it is being paid early and that it will be in payment for a longer period of time.