The government sets a minimum age for when you can take your benefits from pension schemes like the Fund. It’s called the normal minimum pension age (NMPA) and right now that minimum is age 55*.
We’ve known for a while that the government plans to increase the NMPA to encourage people to save longer for their retirement, as well as to ensure that people have financial security for later in their life.
Posted on Aug 05, 2021 | Read more
The Bank and the Trustee have approved and adopted a new version of the Definitive Trust Deed and Rules of the Fund.
Posted on Apr 14, 2021 | Read more
See the latest Annual Report and Accounts for the year to 31 December 2020.
Posted on Apr 06, 2021 | Read more
Some members of the Fund have a Guaranteed Minimum Pension (GMP)aspart of their Fund pension, which is calculated differently for males and females. This can cause males and females to receive different pension amounts. However, the law has changed which means we now need to recalculate the total benefit for some members so that it doesn’t matter if you’re male or female. This process is called ‘GMP equalisation’.
Posted on Feb 05, 2021 | Read more