Important Information: Change in Retirement Age

Important Information: Change in Retirement Age


The minimum pension age has increased from 50 to 55 on 6 April 2010. 

This affects you if you were under age 55 on 6 April 2010 and you are a member of: The B&CE EasyBuild Stakeholder Pension or The TUTMAN B&CE Contracted out Pension Scheme (BCECOPS)

As previously notified, from 6 April 2010 it is no longer be possible to take your pension benefits from either of the above schemes before your 55th birthday, except on the grounds of ill health.

This has different implications depending on your age:

  • If you were aged 50 – 54 on 5 April 2010:

If you wanted to take your pension benefits in the near future you had to do so before 6 April 2010, otherwise you are unable to take your pension benefits until you reach age 55.

  • If you were under age 50 on 5 April 2010:

If you were planning to take your pension benefits before your 55th birthday you will now have to wait until age 55 at the earliest.

Find out more about how this change may affect you here.

 

 

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