If a member is 55 or over, they can ask to access their retirement benefits before their Normal Pension Age (NPA)This is the age at which you can start receiving your pension benefits without any reduction.. The minimum pension age is changing from 6 April 2028, when it will rise from age 55 to 57*.

 You may wish to take the opportunity to discuss with the member other alternatives such as reducing their responsibilities or working pattern and taking phased retirement. This method of retirement allows members to receive part of their benefits while still continuing to work and you retain an experienced member of staff.

If a member decides that they do want to stop work and take their benefits then they can take Early Retirement (Early RetirementThis is when you start receiving your pension before reaching your Normal Pension Age (NPA). You can take your pension from age 55, or earlier if you are too ill to work. However, if you take it early, the amount will be reduced because it will be paid out for a longer time.). Their benefits will be actuarially reduced for the lifetime of the pension. Early Retirement cannot be awarded if the benefits are less than their Guaranteed Minimum Pension. Any family benefits that are payable following the death of the member dies will not be adjusted.

If the member is in pensionable or excluded employment at the time the application is made, they must obtain your consent. You cannot withhold consent for more than 6 months from the date of the request. Before Early Retirement benefits can be paid the following must be considered:

• The member must cease all teaching employment and their contract(s) of employment must end;
• Where a member works on a supply or casual basis, their contract must end;
• A non-working day is not considered as a break in service, there must be a genuine cessation of contract;
• Where a member returns to teaching before the payable date their application is treated as void; and
• If a member has accrued both final salary and Career Average benefits then all their benefits have to be taken at the same time.

Members can apply for Early Retirement from the secure member area of the Teachers' Pensions website, ‘My Pension Online’. They will be required to complete a number of questions and options so must take care in checking that they have correctly completed all the relevant sections. Members can assess their options, with respect to converting pension to a lump sum, for example, using the modellers on My Pension Online

You’ll be required to confirm:

• the member’s proposed retirement date; and
• details of service and salary since your last service return or from a date requested by Teachers' Pensions.

If there is any delay in providing the information the member may not receive their benefits at their retirement / payable date.

Applications should be submitted six months before the proposed retirement date to allow those affected by Transitional Protection to make and receive their choices, but any application received more than six months from the retirement will be rejected. This is because service and salary details can change in the intervening period.

*Changes to the minimum pension age from 6 April 2028.

On 6 April 2028, the Normal Minimum Pension Age (NMPA) will increase from 55 to 57. This will impact the age at which new entrants to the Teachers’ Pension Scheme on or after 4 November 2021 can take their pension benefits. This change was made by the Finance Act 2022 and applies to all schemes, not just the Teachers’ Pension Scheme. 

A member would retain a NMPA of 55 if they had service in the Teachers’ Pension Scheme before the announcement regarding NMPA changes on 4 November 2021. Hence:

• From 6 April 2028, members with service in the final salary and/or career average scheme up to 3 November 2021 will retain the right to take Early (actuarially adjusted) Retirement or Phased Retirement from age 55 subject to an application being made and the relevant retirement conditions being satisfied. For example, for an ‘out-of-service’ Early Retirement application, a member must be out of service for a minimum of six weeks prior to the selected payable date of the Early Retirement award.
• Members who joined the career average scheme for the first time after 3 November 2021, will have a Normal Minimum Pension Age of 57.

There remain some policy considerations to work through, and the Department for Education is committed to giving an update as soon as possible.

Ill-health Retirement

This change does not affect Ill-health Retirements, which will still be allowed before the minimum retirement age if you meets the Ill-health criteria.