Skip to content

Are you on track for your retirement?

Beach Huts, Norfolk, England United Kingdom

Have you thought about how much money you will need to live comfortably in later life? Have you got plans to travel or pay off your mortgage? Do you know if you are on track to enjoy the lifestyle you want?

To help you make the most out of your pension savings, you may want to consider the following:

Deciding when to take your benefits?

Defined Benefit (DB) members

Your normal retirement age depends on which section of the Plan you are a member. Please visit the Find out which section you are in page.

Early retirement is generally possible from age 55 subject to company consent. Please note that the government intends to increase the minimum retirement age from 55 to 57 from the 6 April 2028.

In certain circumstances, different rules may apply in your section. Please contact us if this is of interest to you and you would like more information.

If you do not put your pension into payment at your normal retirement age, it will be increased each year when it comes into payment, on the advice of the Plan Actuary, to reflect the later start date.

Defined Contribution (DC) members

The Plan’s normal retirement age is 62, however, if you are a member of the Money Purchase 2003 (MP03) Section or Auto Enrolment (AE) Section, you can choose a different retirement date between the ages of 55 and 74. This can be done by completing a selected retirement age (SRA) form.

It’s good to let us know when you are thinking of retiring because if you are invested in any of the lifecycle options, your SRA will determine when your funds are switched as you get closer to retirement. Visit Making your money grow for more information.

The Aviva’s Shape My Future tool is one option available to help you work out how much you might need in later life, and the difference saving a little extra now could make if you decide this is the right step for you. Click on the link below to find out more:

How to maximise your pension savings

Paying more into the Plan is the best way to increase your pension pot. For further information, visit the Ways you can save more page.

You could also do this

Was this page helpful?

Back to top

Contact us

How the Plan is run


    Step 1

    Welcome to the Pearson Pensions Website feedback form. Did you find what you were looking for?

    Step 2

    Was it easy to find?

    Step 3

    Did you complete a form today?

    Step 4

    Thank you for your feedback!

    It will help us to continually improve the website.

    You can close this window.