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In the Retiring Section:

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What is flexible retirement?

The rules of the Group Pension Scheme have recently been amended to give more flexibility to allow Scheme members to draw pension benefits from the Scheme whilst remaining in employment with the Press.

What age can I take flexible retirement?

With consent of the Press, flexible retirement is permitted from age 55.

If I take flexible retirement now, can I rejoin the Group Pension Scheme in the future?

You would not be permitted to rejoin the Scheme again, and would not be able to accrue further final salary benefits.  You would be eligible to build up money purchase benefits under the Stakeholder Scheme.

How are the Scheme’s death benefits affected by flexible retirement?

Members who take flexible retirement, are treated as pensioner members for the purposes of calculating the benefits which would be payable from the Scheme in the event of death, whether or not you are still in Press employment.  Whilst still in Press employment you would still be covered for life assurance benefit but at the lower rate of one times your pensionable salary.

Pension benefits taken as flexible retirement are calculated in the same way as all other pension benefits.  If you are interested in taking flexible retirement before your normal retirement date please use this link to see more information about early retirement.  If you are interested in taking flexible retirement at your normal retirement date, please use this link to see more information about normal retirement.