Around 6 months before your normal retirement age, Mercer will contact you with your retirement options. If you want to retire, you need to complete and return the forms along with any certificates that are needed, such as your birth certificate.
Once your pension goes into payment, you will receive regular monthly pension payments directly to your bank account. You can find the current pension payment dates here [link to pension dates].
Tax-free lump sum
If you joined the Scheme prior to 1 April 2018 you will be entitled to a lump sum equivalent to three times your pension, which is paid tax-free when your pension starts. In most cases, you will be given the opportunity to take a tax-free lump sum or an additional amount of tax-free cash.