Ill-health retirement

With the agreement of the Company, you may retire at any time on grounds of ill-health (incapacity).

Incapacity

You may be entitled to an annual pension, payable immediately if;

Your ill-health prevents you from working in your current job but you are still able to do some kind of work;
Although your earnings capacity is adversely affected, it is expected to continue. The pension will be calculated as:

1/60

Final pensionable earnings at date of actual retirement

Pensionable employment to date of actual retirement

Serious incapacity

If you become so ill that you will be unable to do any kind of work again, an enhanced ill-health pension may be paid immediately. It will be calculated as above, but your pensionable employment will include all the years you could have worked up to your normal retirement date. The pension is calculated as follows:

1/60

Final pensionable earnings at date of actual retirement

Total Pensionable employment that could have been completed by NRD

Serious commutation

If you have less than 12 months to live, you may be able to commute all of your pension to a lump sum, subject to evidence of your limited life expectancy from a Registered Medical Practitioner.

Please note

The decision on whether to grant ill-health benefits is taken by the Company after considering medical evidence. The Trustee must also be satisfied that you are and will continue to be incapable of carrying out your occupation because of physical or mental impairment. Once an ill-health pension has been granted it is subject to periodic review and may be reduced or suspended at any time if you are unable or unwilling to supply the required evidence of ongoing incapacity/serious incapacity (as appropriate) at any point prior to NRD.

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