Taking your pension while working

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Flexible Pension Guide

There are a number of different Flexible Pension options you can choose from

You’d normally be able to start taking some of your pension benefits at 60, and some at 65. These are called Age60 benefits and Age65 benefits.

But if you keep working for your employer, Flexible Pension means you can start taking some, or all, of your benefits as early as 55. This is the minimum age set by the Government.

Different Flexible Pension options will suit different people, and the amount you get will be reduced if you take your benefits early. So, before you make a decision, make sure you understand how each option would affect you. Find out more in our Flexible Pension Guide (below).

It’s your choice whether you take your benefits early or not. If you don’t want to do so, you don’t have to. You can carry on contributing to the Plan as you were.

What are my Age60 benefits?

Your Age60 benefits are the benefits you earned before 1st April 2010. You’d normally take these benefits when you turn 60, but you can choose to take your Age60 benefits as early as 55. Find out about your options at different ages.

Benefits earned to 31 March 2012 are paid from the RMSPS. However, any increase in pre 2012 benefits in excess of statutory increases, attributable to increases in pensionable pay, will be paid by the RMPP.

What are my Age65 benefits?

Your Age65 benefits are the benefits earned from 1st April 2010. You’d normally take these benefits when you turn 65, but you can choose to take your Age65 benefits as early as 55. Find out about your options at different ages.