If you’re getting ready to take your UKRF defined benefits, our new digital retirement service could make it so much easier for you.

If you’re at least 6 months from your 55th birthday, and have more than 2 months to go before your Normal Retirement Age, you may now have a new way to access your retirement savings from the UKRF. With our new digital retirement service you could see how much your defined benefits are worth and apply to take them online. No more bulky retirement packs in the post.

This could mean a smoother and faster retirement. The service guides you through each step, at your own pace, providing extra help and information along the way.

Our digital journey

We’re committed to moving UKRF services online to enhance our members’ experience and can be done securely with the right technology. Our new digital retirement service is part of a broader journey toward smarter, more digital support. We’re also looking to further improve the digital experience for members. Look out for more updates in the future.

Accessing and using the digital retirement service

Know if you have access

You may be able to use the digital retirement service if you:

  • Have defined benefits in the: 1964 Pension Scheme, Career Average Scheme, Mercantile Plan or the AP89 Pension Scheme, AND
  • Are aged at least 54 years and 6 months but have more than 2 months to go before your Normal Retirement Age.

There are a few exceptions. For example, you won’t have access if you have UKRF defined contribution benefits (such as Afterwork section), or Additional Voluntary Contributions (AVCs) with an external provider like Aviva.

The easiest way to check is to log in to your online pension account: My Benefits tab> Run a quote. If you have access to the digital retirement service, you’ll see a box at the top of the page with a link

Check your inbox

If you are eligible and we have your email address, we will contact you about this service. If we don’t have your email address, remember to add one when you next log in to your online pension account.

A personalised, online retirement experience

Our new digital retirement service is linked to your online pension account, so it’s tailored to you and your benefits. If you are eligible, everything you need is at your fingertips and we’ll no longer send you a retirement pack. Instead, you can:

Explore – interactive estimates

When you open the service, you’ll see estimates for your UKRF retirement options. You can explore how these figures change if you want to change your retirement date or adjust your lump sum, giving you a clearer view of your choices.

Apply – a paper-free way to retire

Click past your option ‘summary’ and you’ll get to your ‘Apply to take your pension benefits’ screens. Here you can move step-by-step through your retirement application, meaning you can:

  • Be prepared: To keep things secure, we’ll need ID information to verify it’s you. In some cases, you may need to take independent financial advice and provide pension tax information. The good news is you can see most of the steps before you ’Submit’. So, you’ll know exactly what’s involved before you commit.
  • Retire at your own speed: You can apply to retire whenever you’re ready and eligible. It takes around 20-40 minutes to complete your application. If you need to pause, ask questions, or gather more information along the way, you can save your progress. When you save and exit, a pop-up will appear letting you know the date that your current application will expire.

Once you ’Submit’, you’ll receive an email confirmation, and the Barclays Team will get to work. You can track your application’s progress via the ‘My Cases’ section on your online pension account homepage.

To see your current retirement timeline, go to Retirement Planning > My Retirement Timeline.

Start today to prepare for tomorrow

  • 1. Check your access – Log in to your online pension account to see if you’re set up and ready to go.
  • 2. Update your details – While you’re there, make sure your personal information and email address is current. See the My Details tab.
  • 3. Ask for help – If you have any questions or need support with your online pension account, contact the Barclays Team.