This Category is for Retirement Balance Plan members who are no longer contributing, but haven’t yet claimed their pension. Below is a list of the benefits you could get:

Membership benefits

• A tax-free cash lump sum when you claim your pension
• An annual pension
• An incapacity pension if you can’t work because of ill health
• A pension for your dependants if you die

 Retirement options

• Up to 25% of your retirement balance as a tax-free cash lump sum
• A monthly pension bought through the Plan
• Or a pension bought from an insurance company
• Taking your balance – minus any lump sum already taken –subject to tax at your marginal rate.
• A benefits transfer to another pension arrangement if you want to take your pension using an option not available through the Plan. You are strongly advised to get independent financial advice first.