Introduction

Module 10 - Pension Scheme Retirement Benefits

In this module we will look at some of the issues a member faces when retiring.

At the end of this module you will be able to: 

• State when a member can retire from a scheme and take their scheme benefits, including on ill-health and their State Pension. 
• Describe the different options available including commutation and flexible benefits available for members with defined contribution arrangements. 
• Explain the retirement process, how to claim benefits and when they will be paid. 
• Understand the increases for different tranches and when they are applied.

In this module you will see there are a number of things for a member to consider when they retire or decide to access their benefits. It is advisable for a member to seek independent financial advice before making decisions and members with DC benefits should always speak to Pension Wise for help with their options.