Preserved pensions
You will be entitled to a preserved pension as follows:
- For Pensionable Service before 1 April 2008
A pension equal to 1/60th of your Final Pensionable Pay when you leave for each year of your Pensionable Service to 31 March 2008, and an additional pro-rata amount for part years.
plus - For Pensionable Service on or after 1 April 2008
A pension equal to the total of all the Pension Blocks you have built up for your CSDB Pensionable Pay after 31 March 2008 (including, where appropriate, any inflation-linked increases to the last Renewal date before you leave service).
While your pension is preserved in the Plan, it will be increased.
Your preserved pension will typically start to be paid when you reach Normal Pension Age: age 60 for the part of your pension based on your Pensionable Service before 1 April 2010 and age 65 for the part of your pension earned for your Pensionable Service after 31 March 2010.
Early Payment
You may also be able to retire early voluntarily or because of ill-health. The rules surrounding preserved benefits are quite complicated and you can find out more in the relevant Pensions Brochure for Section C.