Blog
A deep-dive into a variety of pension topics to help you understand and learn more about your pension and the Scheme.
24/10/2025
Editorial
<p>Navigating retirement ages can be confusing, however understanding them and how they affect your retirement planning is key to making decisions that are right for you long term. <br></p><h5>Here’s a breakdown of each one in simple terms:</h5><h5> </h5><h5>Normal Retirement Age</h5><p>Your Normal Retirement Age (NRA) is the age at which you can take your RPS benefits in full. It’s set by Scheme rules and varies by Section:<br></p><ul><li>For Final Salary Sections – NRA is typically 60, though it can vary slightly depending on your Section and when you joined it. You can retire early if you wish (from age 55, unless you have a protected pension age), but your pension will be reduced to reflect the fact it will likely be paid for a longer period of time.</li><li>For the Industry-Wide Defined Contribution Section – there’s no set NRA, but you can normally access your pension from age 55 (rising to 57 in 2028).</li></ul><h3> </h3><h5>Target Retirement Age</h5><p>Your Target Retirement Age (TRA) is the age you plan or aim to take your pension – it’s not fixed by the Scheme rules, instead it’s something you choose.<br></p><p>If you are a member of the Industry-Wide Defined Contribution (IWDC) Section or you save extra towards your pension with Additional Voluntary Contributions (AVCs), your TRA is particularly important as it influences how your money is invested over time. For example, if you’ve left it to the Scheme investment experts to manage your investments, they might decide to move your money in less risky funds as you approach your TRA. So, you need to think carefully before setting this.<br></p><p>Your TRA can be earlier or later than your NRA – but be aware that if you take your pension early, it may be reduced.<br></p><p>You can change your TRA in your <a href="https://www.railwayspensions.co.uk/login" data-sf-ec-immutable="">myRPS account</a> at any time.</p><p> </p><h5>State Pension age</h5><p>Your State Pension age (SPA) is set by the government. It’s the age when you can claim your State Pension, which is a totally separate source of retirement income from your RPS pension.<br></p><p>The SPA is currently 66 or 67 for most people, depending on your date of birth, however it is scheduled to increase to 68 in future. <br></p><p>You can check your SPA using <a href="https://www.gov.uk/state-pension-age" target="_blank" data-sf-ec-immutable="" data-sf-marked="">the government’s State Pension age calculator</a>.</p>
<p>Navigating retirement ages can be confusing, however understanding them and how they affect your retirement planning is key to making decisions that are right for you long term. <br></p><h5>Here’s a breakdown of each one in simple terms:</h5><h5> </h5><h5>Normal Retirement Age</h5><p>Your Normal Retirement Age (NRA) is the age at which you can take your RPS benefits in full. It’s set by Scheme rules and varies by Section:<br></p><ul><li>For Final Salary Sections – NRA is typically 60, though it can vary slightly depending on your Section and when you joined it. You can retire early if you wish (from age 55, unless you have a protected pension age), but your pension will be reduced to reflect the fact it will likely be paid for a longer period of time.</li><li>For the Industry-Wide Defined Contribution Section – there’s no set NRA, but you can normally access your pension from age 55 (rising to 57 in 2028).</li></ul><h3> </h3><h5>Target Retirement Age</h5><p>Your Target Retirement Age (TRA) is the age you plan or aim to take your pension – it’s not fixed by the Scheme rules, instead it’s something you choose.<br></p><p>If you are a member of the Industry-Wide Defined Contribution (IWDC) Section or you save extra towards your pension with Additional Voluntary Contributions (AVCs), your TRA is particularly important as it influences how your money is invested over time. For example, if you’ve left it to the Scheme investment experts to manage your investments, they might decide to move your money in less risky funds as you approach your TRA. So, you need to think carefully before setting this.<br></p><p>Your TRA can be earlier or later than your NRA – but be aware that if you take your pension early, it may be reduced.<br></p><p>You can change your TRA in your <a href="https://www.railwayspensions.co.uk/login" data-sf-ec-immutable="">myRPS account</a> at any time.</p><p> </p><h5>State Pension age</h5><p>Your State Pension age (SPA) is set by the government. It’s the age when you can claim your State Pension, which is a totally separate source of retirement income from your RPS pension.<br></p><p>The SPA is currently 66 or 67 for most people, depending on your date of birth, however it is scheduled to increase to 68 in future. <br></p><p>You can check your SPA using <a href="https://www.gov.uk/state-pension-age" target="_blank" data-sf-ec-immutable="" data-sf-marked="">the government’s State Pension age calculator</a>.</p>
Blog
Understanding the pension ages relevant to you as a member of the Scheme
As a member of the Railways Pension Scheme (RPS) you’ve probably come across terms like Normal Retirement Age, Target Retirement Age and State Pension Age. But do you know what they mean?
Navigating retirement ages can be confusing, however understanding them and how they affect your retirement planning is key to making decisions that are right for you long term.
Here’s a breakdown of each one in simple terms:
Normal Retirement Age
Your Normal Retirement Age (NRA) is the age at which you can take your RPS benefits in full. It’s set by Scheme rules and varies by Section:
- For Final Salary Sections – NRA is typically 60, though it can vary slightly depending on your Section and when you joined it. You can retire early if you wish (from age 55, unless you have a protected pension age), but your pension will be reduced to reflect the fact it will likely be paid for a longer period of time.
- For the Industry-Wide Defined Contribution Section – there’s no set NRA, but you can normally access your pension from age 55 (rising to 57 in 2028).
Target Retirement Age
Your Target Retirement Age (TRA) is the age you plan or aim to take your pension – it’s not fixed by the Scheme rules, instead it’s something you choose.
If you are a member of the Industry-Wide Defined Contribution (IWDC) Section or you save extra towards your pension with Additional Voluntary Contributions (AVCs), your TRA is particularly important as it influences how your money is invested over time. For example, if you’ve left it to the Scheme investment experts to manage your investments, they might decide to move your money in less risky funds as you approach your TRA. So, you need to think carefully before setting this.
Your TRA can be earlier or later than your NRA – but be aware that if you take your pension early, it may be reduced.
You can change your TRA in your myRPS account at any time.
State Pension age
Your State Pension age (SPA) is set by the government. It’s the age when you can claim your State Pension, which is a totally separate source of retirement income from your RPS pension.
The SPA is currently 66 or 67 for most people, depending on your date of birth, however it is scheduled to increase to 68 in future.
You can check your SPA using the government’s State Pension age calculator.
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