Deferred pension

You will be awarded a deferred pension if you leave the scheme before you are able to draw your benefits.

The amount of your deferred pension will be the value of your accrued pension at the date of leaving.

If your benefits become a deferred pension, then your new pension age becomes age 60 and this means that you can no longer draw your benefits at age 55.

A deferred pension will increase each year in line with the Consumer Price Index (CPI). An Annual Benefit Statement will be produced each year which will show you the current value of your deferred pension.