Pilkington Superannuation Scheme
You have an absolute right under the Scheme to retire at anytime after your 60th birthday. However, it may be possible to retire from age 50, with your employer's consent.
If you retire early, your pension fraction is adjusted to allow for the possibility of your pension being paid for longer. Below are examples of how the pension fraction is adjusted:
| Age | 63 | 60 | 58 | 55 | 52 | 50 |
| (1/60) | (1/65) | (1/73) | (1/82) | (1/91) | (1/97) |
Note different pension fractions are used for membership before 1 September 1997.
By clicking on the following button you can find out what the adjusted pension fractions are at other retirement ages:
An Example
A member retires on his 58th birthday, with an average retiring salary of £20,000, after 20 years service, three quarters of it before September 1997 and one quarter after. The pension will be:
| 15 ---- 68 |
x | £20,000 | - | cumulative disregard upto 31/8/97 ---------------- 68 |
+ | 5 ---- 73 |
x | £20,000 | - | cumulative disregard from 1/9/97 ---------------- 73 |