Public Services Section

Conwy Castle, Wales

Normal retirement age

Age 62.


Deferred pension increase

The non-Guaranteed Minimum Pension (GMP) element of the deferred pension increases currently 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

Your spouse/civil partner will receive a pension of 50% of your deferred pension revalued to date of death. There may be scope for a pension to be payable even if there is no spouse/civil partner.

Your dependent children will be eligible for a pension of 18.75% of your pension calculated as if you had retired on ill-health at the date of death for each dependent child (up to a maximum of two children).


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.


Pension increases

Once your pension comes into payment, the non-GMP element of your pension will be increased each 1 January by inflation up to a maximum of 5% each year.

Before you reach GMP age (60 for women and 65 for men), the Plan will increase any GMP in line with the section increases above.

After you reach GMP age, post 1988 GMP will increase by the lower of 3% per annum and the annual rise in inflation (currently measured using the Consumer Prices Index).


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. There may be scope for a pension to be payable even if there is no spouse/civil partner.

Each of your dependent children will be eligible for a pension of 18.75% of your pension (up to a maximum of two 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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