You & Your
Retirement Age

Can I change my retirement age?

You can take your pension at any time between age 55 (increasing to 57 in April 2028) and age 75.

If you’d like to check what your retirement age is or get a retirement quote now (assuming you’re over 55) you can run an estimated retirement quote by logging in to your MyPension account.

If you take your benefits earlier than your Normal Pension Age (NPA), your yearly pension will be reduced, because you’ll be receiving payments for longer.

If you take your pension later than your Normal Pension Age, your yearly pension will be higher because you’ll be receiving payments for less time.

If you would like to take your pension earlier or later than your NPA, please let XPS know to update your records. You’ll still be able to take your pension at any time if your circumstances change.

Go to MyPension to run an estimated retirement quote.

DC Section members

If you also have a DC Section pension pot with the Partnership, you can change your Target Retirement Age (TRA).

Changing my contributions

Ill-health pension

If you’re below the minimum retirement age (currently 55, increasing to 57 in 2028) and are unable to work due to ill health, you may be able to claim your pension.

If you currently work for the Partnership, you’ll need to investigate this option this with your manager.

If you no longer work for the Partnership, you can contact XPS to start the process.

Can I change my retirement age?

You can take your pension at any time between age 55 (increasing to 57 in April 2028) and age 75.

If you’d like to check what your retirement age is or get a retirement quote now (assuming you’re over 55) you can run an estimated retirement quote by logging in to your MyPension account.

If you take your benefits earlier than your Normal Pension Age (NPA), your yearly pension will be reduced, because you’ll be receiving payments for longer.

If you take your pension later than your Normal Pension Age, your yearly pension will be higher because you’ll be receiving payments for less time.

If you would like to take your pension earlier or later than your NPA, please let XPS know to update your records. You’ll still be able to take your pension at any time if your circumstances change.

Go to MyPension to run an estimated retirement quote.

DC Section members

If you also have a DC Section pension pot with the Partnership, you can change your Target Retirement Age (TRA).

Changing my contributions

Ill-health pension

If you’re below the minimum retirement age (currently 55, increasing to 57 in 2028) and are unable to work due to ill health, you may be able to claim your pension.

If you currently work for the Partnership, you’ll need to investigate this option this with your manager.

If you no longer work for the Partnership, you can contact XPS to start the process.

Can I change my retirement age?

You can take your pension at any time between age 55 (increasing to 57 in April 2028) and age 75.

If you’d like to check what your retirement age is or get a retirement quote now (assuming you’re over 55) you can run an estimated retirement quote by logging in to your MyPension account.

If you take your benefits earlier than your Normal Pension Age (NPA), your yearly pension will be reduced, because you’ll be receiving payments for longer.

If you take your pension later than your Normal Pension Age, your yearly pension will be higher because you’ll be receiving payments for less time.

If you would like to take your pension earlier or later than your NPA, please let XPS know to update your records. You’ll still be able to take your pension at any time if your circumstances change.

Go to MyPension to run an estimated retirement quote.

DC Section members

If you also have a DC Section pension pot with the Partnership, you can change your Target Retirement Age (TRA).

Changing my contributions

Ill-health pension

If you’re below the minimum retirement age (currently 55, increasing to 57 in 2028) and are unable to work due to ill health, you may be able to claim your pension.

If you currently work for the Partnership, you’ll need to investigate this option this with your manager.

If you no longer work for the Partnership, you can contact XPS to start the process.

You May Be Interested In

Defined Benefit

You’re likely to be a member of the DB Section of the Scheme if you worked at the Partnership before 1 April 2015. XPS is the administrator of the DB Section.

The DB Section closed on 1 April 2020 and therefore members who joined the Partnership after 1 April 2015 will only have a Defined Contribution pension pot.

Defined Contribution

This is where you can find information about your current pension if you’re a Partner now, or were a Partner after 1 April 2015. The Defined Contribution pages are probably the most important for you.

Members who joined the Partnership before 1 April 2015 may also hold DC pension pots with Prudential or Legal and General, as well as a Defined Benefit Pension in the Scheme. We previously referred to this as Hybrid or Dual Benefit. This is because you may have joined the DC Section of the Scheme when you started working at the Partnership and then, after a defined waiting period (which depends on the date you joined the Partnership), you would have become eligible to join the DB Section.

The DB Section closed on 1 April 2020 and therefore members who joined after 1 April 2015 will only have a DC Section pension pot.