Core Pension
If you retire at Normal Retirement Date you will receive a pension that is calculated as shown here.

Retirement Account
Your Retirement Account can normally be taken as a tax free lump sum. Alternatively it will be converted into a Scheme pension using the Pension Rate applicable when you retire. Alternatively, you may purchase a pension (which is called an annuity) from an external provider eg an insurance company and the Trustees have appointed Hargreaves Lansdown to help you choose an appropriate annuity if you wish to consider this option.

 

The Pensions Service Centre will contact you before you reach your retirement age to tell you what your benefits will be.