Longman Group Section

Ballymoney, Northern Ireland

Normal retirement age

  • Ordinary and Senior Staff member – age 62
  • Longman, Longman Special and Pitman member – age 65 (unless the member has previously notified the Trustee in writing that it shall be age 62)
  • Sales Representative member – age 60

During service

Contributions are paid as follows:

  • Ordinary Category Member – 4.5% of Pensionable Salary
  • Senior Staff Category Member – 6.25% of pensionable salary
  • Longman Category Member – 6.25% of pensionable salary

Your pension at normal retirement date is based on pensionable salary and pensionable service in each category of membership. It is calculated as follows:

  • Ordinary Member 1/60 x pensionable service x pensionable salary
  • Senior Staff Member 1/45 x pensionable service x pensionable salary
  • Longman Member 1/60 x pensionable service x pensionable salary + bonus credit

On ill-health retirement

Ill-health retirement pension calculated as the pension you would have received if you had remained in service until your normal retirement age, but based on your final pensionable salary at the date of your retirement.


On death in service

The benefits are:

  • If you die whilst a contributing member of the Plan, your dependants will receive a cash sum of four times your basic annual salary at date of death
  • A spouse’s/civil partner’s pension of 50% of the pension you would have received if you had remained in service until your normal retirement date, but based on your final pensionable salary at the date of your death
  • Your dependent children will be eligible for the following total pensions based on your spouse’s pension as calculated above. The Trustee decides how the amount are shared.

Total children’s pension as % of spouse’s pension

Number of
dependent
children
Spouse/civil
partner pension
payable
No spouse/civil
partner pension
payable
150%100%
260%120%
370%140%
4 or more80%160%

On leaving

You have two options:

  1. Leave your pensions benefits with the Plan. You are known as a
    deferred member, or;
  2. Transfer the value of your deferred pension to another registered
    pension arrangement

Deferred pension increase

The non-Guaranteed Minimum Pension (GMP) element of the deferred pension increases in line with inflation up to a maximum of 5% each year in respect of service up to 5 April 2009 and up to 2.5% p.a. in respect of service after that date. The GMP element increases at a fixed rate depending on your date of leaving.


On death as a deferred member

If no pension paid to spouse or dependent children, a refund of your contributions with interest.

Your spouse/civil partner will receive a pension of 50% of your deferred pension revalued to date of death.

Your dependent children will be eligible for a total pension (based on the spouse’s pension) as shown in the table below. The Trustee decides how the amount are shared.

Total children’s pension as % of spouse’s pension

Number of
dependent
children
Spouse/civil
partner pension
payable
No spouse/civil
partner pension
payable
150%100%
260%120%
370%140%
4 or more80%160%

At retirement

  • You may exchange some pension for tax-free cash within statutory limits
  • Early retirement possible from age 55 subject to Company consent
  • A reduction will be made to take account of the fact that you will be receiving your pension for longer
  • If you do not put your pension into payment at normal retirement age, it will be increased each year on the advice of the Plan Actuary

Pension increases

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

  • 3% – Pension relating to service before 6 April 1997
  • Lower of 5% and the rise in inflation, subject to a minimum of 3% – Pension relating to service after 5 April 1997

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.

Your dependent children will be eligible for a total pension (based on the spouse’s pension) as shown in the table below. The Trustee decides how the amounts are shared.

Total children’s pension as % of spouse’s pension

Number of
dependent
children
Spouse/civil
partner pension
payable
No spouse/civil
partner pension
payable
150%100%
260%120%
370%140%
4 or more80%160%

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.


Was this page helpful?

Contact us

How the Plan is run

News