Npower 2005 Section

This section is for deferred members of the Npower 2005 Section.

Membership benefits

• a pension linked to your Pensionable Service and Pensionable Salary
• benefits for your dependants whether you die before or after retirement
• a disability income if you are forced to retire early because of ill-health

Retirement options

If you've left the Company either by choice or by leaving the Company before your Normal Pension Age, you can choose between the following two options:

• preserve your benefits in the Scheme until your Normal Pension Age - this means you can keep your pension in the Scheme to be paid on your retirement or death.
• transfer your benefits to another approved pension arrangement - you have the option to transfer your benefits to a new employer's pension scheme, to your own personal pension or an individual buy-out policy.
  
  If the value of your benefits in the Npower Group Scheme is £30,000 or more and you want to transfer your benefits to a DC, known as defined contribution or money purchase, pension arrangement, you are required to seek independent financial advice.

Retirement options do depend on your individual circumstances so please refer to your Member Booklet for more information.