Planning for retirement

Types of retirement

The Scheme offers 4 main options, depending on eligibility. They are:

Normal retirement

Your normal retirement age (NRA) is the age at which you can start taking your full ​Scheme benefits, without them being reduced. Your NRA is usually between the ages of 60 and 65.

Sign in to myRPS and check your NRA in your Member Guide, in the Library. Or call the Helpline on 0800 2 343434.

Thinking about claiming your pension? See ‘Applying for my RPS pension’.

Ill-health retirement

If you are unable to work through ill health, you may be able to claim your Scheme pension and cash lump sum early – with no reductions for early payment, and a potential enhancement to your pensionable service of up to ten years.
 
You could be ​eligible if:

  • you’ve been in the Scheme for at least five years (check the Section Rules in your Member Guide);
  • you're under your normal retirement age; and
  • a medical expert chosen by the Trustee provides evidence that you’re unable to work in your current or other suitable job.

Read more in A Guide for members - Incapacity Benefits..

Early retirement

You may be able to claim your benefits before you reach your normal retirement age. However:

  • your benefits will be reduced if you’re under your normal retirement age
  • you won’t be covered for the death-in-service lump sum; and
  • you’ll no longer be eligible for ill-health benefits

Late retirement

If you’re near - or over - your ​​Normal ​Retirement ​Age (NRA), you may be able to postpone taking your benefits up to a maximum age of 75.

This means your benefits will be paid at an enhanced rate when you eventually take them. Late retirement factors will be used to calculate how much extra will be added to your benefits.

Any questions?

If you need any help - or would like an up-to-date estimate of your benefits - contact the Helpline on 0800 2 343434 or email csu@rpmi.co.uk. You will need your pension reference number - this can be found in myRPS.

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