New Road to Retirement Visual Helps Map out Retirement
A comfortable retirement may be the long-term goal for many of us saving towards our pension, but do you know how to put your pension into payment when the time comes?
Members of the North East Scotland Pension Fund (NESPF) can now get to grips with retirement with our roadmap to retirement.
NESPF’s new “Road to Retirement” visual outlines each step of the retirement process including timescales. The visual breaks down the entire process starting from retiral notification through to completion of retirement, detailing the action taken at each stage and the estimated time frame for each part of the process. This ensures members can get a clearer picture of when to expect their pension, helping them to plan accordingly.
In order to cover various retirement circumstances, different versions of the visual have been created for active members (members currently paying into the scheme) and deferred members (members with pension on hold until retirement) both with and without Additional Voluntary Contributions (AVCs).
Going forward, members who are approaching retirement will receive a letter or email containing the visual which they can refer to for information.
To view our Road to Retirement visual, click here if you are an active member, or click here if you are a deferred member.
For more information on retirement, you can view the Retirement Guide, or if you have a query, you can contact the Fund directly.
