Redundancy
Your employer could make you redundant or offer you the choice of redundancy.
If you retire because of redundancy, and you are 50 years old or above - we will pay your pension and lump sum immediately, as long as you have been a member of the scheme for at least 3 months.
In certain circumstances, your employer may choose to give you extra service which will count towards your pension & lump sum. Your employer will be able to give you more information on this.
You will recieve a pension increase every year which is added to your pension from your 55th birthday. If you are made redundant before your 55th birthday you will not receive an increase until this birthday.You will receive the accumulative total, compounded each year.
So for example, if you retire at age 50 and there was an increase of 2% per year, you will receive a 10.4% increase to your pension on your 55th birthday.
You can find additional information in our new pensioners factsheet, choices at retirement factsheet, and in our Brief Guide to the Pension Scheme.
Please feel free to contact us if you need any more information.
Wiltshire Pensions Fund, County Hall,Trowbridge, Wiltshire, BA14 8JJ.
© 2007 Wiltshire Pension Fund.