Ill health retirement
If you are unable to work because of permanent ill health or incapacity, you may be entitled to receive your pension early, without reduction. If you retire on ill health grounds, you will also receive pension for the years between your date of retirement and your State Pension Age.
John is 55, and retiring through ill health. His salary is £40,000 per year and he has been in the Scheme for 10 years. His State Pension Age is 67.
|Accrued pension at age 55:||£7,000|
|Pension to State Pension Age:||(12 x £40,000)/60 =||£8000|
|Total ill health pension||£15,000|
If you retire through ill health, and your health improves and you return to paid employment, you should let JLT know as soon as possible.