The Scheme's Normal Pension Date is the last day of the calendar month in which the member reaches age 65.

However, benefits accrued up to and including 28^th February 2010 will be calculated by reference to a Normal Pension Date of the last day of the calendar month in which your 62nd birthday occurs. Any such benefits will be increased by a late retirement factor* if they come in to payment later than age 62.

Benefits built up before 1^st March 2010

• If drawn at age of 62, pension benefits would be paid in full
• If drawn after 62, pension benefits would be increased by a late retirement factor*

Benefits built up from 1^st March 2010

• If drawn at age 65, pension benefits would be paid in full
• If drawn before 65, pension benefits would be discounted by an early retirement factor*

*The late and early retirement factors are set by the Trustees and may be revised from time to time. All pension benefits, whether built up before or after 1^st March 2010, would need to be drawn at the same time. This means that you cannot choose to draw some benefits at age 62 and some at age 65.

There are different rules and conditions applying to different members at different times over the history of the Scheme, it would be difficult to easily summarise the information that applies to each deferred member. We have therefore provided general information only in this section of the website - if you want to know your specific terms and conditions, your benefits and your options, then you must contact the Pensions Administration Team.