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When is my additional pension paid?

The additional pension is paid at the same time as you receive your main Scheme benefits.

If you retire early and draw your benefits before your Normal Pension Age or you are retired on redundancy or business efficiency grounds before your Normal Pension Age the additional pension that you have bought will be reduced for early payment.

If you draw your benefits on flexible retirement you can, if you wish, also draw the additional pension you have paid for, although it will be reduced for early payment.  If you do so, your APC contract will cease, although you can take out a new one.

If you are awarded ill-health retirement, then the remaining amount of any APC or SCAPC contract you are paying is deemed to have been paid in full and is paid along with your main Scheme benefits.

If you draw your pension after your Normal Pension Age your additional pension will be increased as it is being paid later.

On retirement you can exchange some of the additional pension for tax-free cash in the same way as your main Scheme pension.

If you die in service no extra benefits from your APC contract will be payable as it was only a contract to provide additional pension for you.

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