Taking pension while working
At age 60 you will be able to take that part of your pension for Pensionable Service up to 31 March 2010, while remaining in Company employment. No actuarial reduction will be applied to this part of your pension as these benefits are payable from age 60 without reduction. If you wish to draw pension before age 60, then you can, subject to Company consent, take your pension and continue working for the Company, but in this case it will be actuarially reduced.
If you do choose to take your pension and continue working, then you will still be able to continue to build up further Plan benefits in respect of Reckonable Service on and from 1 April 2010.
Please note:
- you will have a Normal Retirement Age of 65 in respect of any benefits earned on and from 1 April 2010.
- a Pension Supplement will not be paid until you stop working for the Company.