EDI Section

Giants Causeway, Northern Ireland

Normal retirement age

Age 65.

Deferred pension increase

Deferred benefits increase each year by the following:

  • Any Guaranteed Minimum Pension (GMP) benefits are increased at a fixed rate depending on your date of leaving
  • The remaining benefits are increased in line with inflation, up to a maximum of 5%

On death as a deferred member

A refund of your contributions (other than your Additional Voluntary Contributions (AVCs)) with interest at 5% a year. If you paid AVCs, the value of your AVCs account will also be refunded.

Your spouse/civil partner will receive a pension of 50% of your deferred pension revalued to date of death. The refund of contributions will be reduced by the cost of this pension.

At retirement

You may exchange some pension for tax-free cash within statutory limits.

Early retirement is generally allowed  from age 55 subject to Company consent. Please ask for more information if this is of interest to you. If you retire before age 60, a reduction will be made to take account of the fact that you will be receiving your pension for longer.

Pension increases

Once your pension comes into payment, your pension will be increased each 1 January as follows:

Pre 1 March 2001 Pension

Members who joined before 10 February 1992 Inflation subject to a maximum of 7.5% and a minimum of 5% a year
Members who joined on or after 10 February 1992 Fixed 5% a year

Post 28 February 2001 Pension

Inflation subject to a maximum of 5% a year

Death in retirement

If you are receiving a Plan pension and die within five years of retiring, your dependants will receive a cash sum. This will be the balance of five years’ pension payments (ignoring any future increases after the date of death).

If you die after retirement your spouse/civil partner will receive a pension for life of 50% of your pension, at the date of death, but calculated before any reduction if you took tax-free cash at retirement or chose an optional dependant’s pension.

If no pension is payable to your spouse/civil partner, your dependent children will be eligible for a pension equal to the notional spouse’s/civil partner’s pension that would have been payable, shared equally between all eligible children.

Please note the Rules of the Plan are the binding documents of the Plan and will always override the information provided in this website. For deferred members the Plan Rules at the date of leaving are relevant.

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