Adastral Park - Martlesham

Section A

Leaving BT

If you leave the Company before Normal Pension Age then you have to leave the Scheme.

You can then choose:

  • A deferred pension (which will be paid at Normal Pension Age);
  • To transfer the value of your pension (this will be paid into a new employer's pension scheme or your own registered personal pension plan); or
  • if you are over age 50, take your pension early (but remember, this will be reduced, see Early Retirement).

Deferred pension

Deferred pension benefits will be based on your Final Pensionable Salary and Pensionable Service at the date of leaving. The benefits will be retained in the Scheme and increased in line with the Scheme's pension increase arrangements until they become payable - i.e. until you retire or die.

If you leave your deferred pension in the Scheme and then suffer ill health, you may apply to take it early without an early retirement reduction on ill-health grounds or you may apply to take your deferred pension early with an early retirement reduction.

If you die, having left with a deferred pension

If you have a deferred pension and die before Normal Pension Age, your Spouse, Civil Partner or Adult Dependant and any eligible children will receive pensions similar to those that would have been payable if you had died in service. However, there will be no enhancement of Pensionable Service. In addition, a preserved lump sum death benefit would be payable. For more details of the benefit see the Member Booklet in the Useful documents section of  this website.