If you are over the age of 55, you may be able to take your benefits accrued in the CARE section before NRD as long as the Trustee consents to early retirement.
If you are over age 55 and would like to consider this option, please contact Aon. However please be aware that your benefits will be reduced to take into account that your pension will be in payment for that much longer.
If you do decide and are eligible to take your benefits early then any AVCs must be transferred to a different pension arrangement or used to purchase an annuity on the open market. If you choose to use a regulated independent financial adviser (IFA) or an insurance company to help you, they will tell you about any fees or commission you need to pay.
Your deferred pension was calculated when you became a deferred member of the scheme. It will be revalued in line with inflation up to your chosen early retirement date, and then reduced to take account of early payment.
