Answer:
If you’re eligible to receive a lump sum there are different potential payable dates, determined by the type of retirement you take and your status at the time you complete your application.
If you take Age retirement and make the application while in pensionable service, you’ll receive your lump sum on the day following your last day of pensionable service. If you’re out of pensionable service at the point of making your application, you’ll receive your lump sum 10 working days from the point that we receive your application.
If you take Early Retirement (AAB) and make the application while in pensionable service, you’ll receive your lump sum on the day following your last day of pensionable employment. If you’re out of pensionable service at the point of making your application, you can pick your own payable date providing that it’s no earlier than 6 weeks after the date of making your application and you remain out of pensionable employment until after this date.
If you take Phased retirement, you’ll receive your lump sum on the first day that your salary drops down to the agreed level.