How to Take Your Pension
Taking Your Pension
The general process for retirement can be found in our Road to Retirement maps below, depending if you have Additional Voluntary Contributions (AVCs) or not.
If you are retiring on the grounds of ill health, redundancy, business efficiency or flexible retirement, we require formal notification from your employer before your retirement paperwork can be issued.
Please note these timelines are to provide an overview of the retirement process and is not a guarantee of individual timescales.
Active Member Retirement
Active Member Retirement with AVCs
*This will be the case for Uncrystallised Funds Pension Lump Sum if you are taking all of your AVC as cash and swapping pension for extra lump sum, or if you have chosen the Open Market Option but not yet found a new provider. Your retirement forms acknowledgement will provide a more accurate timescale.
Got AVCs?
If you have AVCs, you will be required to take, or opt out of, Pension Wise guidance, before your AVCs and pension can be paid. Find out more here.
