Paragraph D.1 Retirement after reaching pension age
United Kingdom
The general rule is that a member is entitled to a pension for life and a lump sum if—
in the case of a member other than a fixed protection member, the member ceases to be in pensionable service at or after reaching pension age; or
in the case of a fixed protection member, the member ceases to be in service at or after reaching pension age.
The pension and the lump sum become payable immediately on the member ceasing to be in service.
The amount of the annual pension payable under this rule is calculated by multiplying one seventieth of the member’s final pensionable earnings by the member’s reckonable service, expressed as a number of years.
The amount of the lump sum payable under this rule is calculated by multiplying the amount of the annual pension so payable by 3.
This rule does not apply to pensions derived from pension credit rights.
Annotations
Textual amendments
Notes on Schedule 1
Modifications
- C1
Schs. 1-3 modified (14.7.2026 for the tax year 2014-15 and subsequent tax years) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2026 (S.I. 2026/673), regs. 1(2), 10