Early retirement

A random set of BAE images

Retiring early from Pensionable Service before Normal Retirement Date
(except on medical grounds)

You may be permitted to retire at any time after the age of 55 (50 if you leave the Company at the Company's request) and receive an immediate pension subject to Trustees’ or Company consent. Your pension will be calculated in the same way as for normal retirement as described above, except that there will be a reduction at a rate determined by the Trustees and the Company on advice from the 2000 Plan’s Actuary for each year that your pension is taken early. This is to take into account the extra years over which your pension will be paid. The rates are reviewed periodically and may change from time to time. The early retirement factors which apply on early retirement from active service with Company or Trustee consent are made available below for guidance only.

Stepped Pension Option
If you retire before State Pension age, (except on grounds of ill-health), you can even out fluctuations in your retirement income by choosing a Stepped Pension Option. This allows you to receive an increased level of pension up to State Pension age and a correspondingly reduced level afterwards.



Downloads

To view any pdf files you will need Adobe Acrobat version 5.0 or above installed on your computer. You can download this free plugin by clicking here.

pdfEarly Retirement from Active factors 13.39KB 28/01/2009 Download