Protected Normal Pension Age

Your pension built up before 1 April 2015 has a protected Normal Pension Age, which for almost all is age 65. If you retire and draw all of your pension at your protected Normal Pension Age, the pension built up in the scheme before 1 April 2015 will be paid in full.

If you choose to take your pension before your protected Normal Pension Age the pension you have built up in the scheme before 1 April 2015 will normally be reduced, as it’s being paid earlier. If you take it later than your protected Normal Pension Age it will be increased because it’s being paid later.

The amount of any reduction or increase will be based on how many years earlier or later than your protected Normal Pension Age you draw the pension you have built up in the scheme to 31 March 2015.

The benefits you build up in the career average scheme from April 2015 have a Normal Pension Age linked to your State Pension Age (but with a minimum age of 65).

You cannot take your benefits built up to April 2015 separately from the benefits you build up from April 2015. All your pension would have to be drawn at the same time (except in the case of Flexible Retirement).