News updates

01 April 2016

Main News

Changes to early retirement factors

If you retire early, your Scheme pension benefits will be reduced accordingly. Check your section's early retirement factors today.

A number of factors are used to calculate the benefits paid by the Railways Pension Scheme. The​y are all reviewed regularly to make sure they offer fair value to members and stakeholders.

New factors are now in force for ​some RPS sections – including changes to ​cost neutral early retirement factors (CNERFs) which may affect you if you’re planning early retirement.

The ​CNERF is used to calculate how much pension you will get, by working out ​the amount of time between taking your benefits early and your normal ​pension age.

Log in myRPS to check your section’s CNERF in the Library section.
   
If you have any queries about the changes, email csu@rpmi.co.uk or contact the Helpline on 0800 2 343434.

 

 

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