What to expect when you’re approaching retirement
If you’re approaching retirement and have a Defined Benefit (DB) pension, you might be wondering what to expect when it comes to actually taking it. This is where you’ll find answers to all the questions you’ve thought about, and some of the ones you haven’t.
When will I receive my pension?
How will I receive my pension and how much will it be?
Will I receive my pension automatically?
Have you registered for DB Online?
DB Online is the secure way to manage your account online. Once it’s set up, you’ll have instant access to your account 24 hours a day, seven days a week.
You’ll be able to:
Update your personal details.
View your scheme record.
Submit an enquiry and request a quote.
See your benefit statement if you’re an active member.
Request an up-to-date statement
if you’re a deferred member. See your payslips, P60 and update your bank details if you receive a pension.
How to register for DB Online
Make a start setting up your DB Online account.
How is my pension invested?
Find your scheme guide
There’s no getting around the fact that pensions can be complicated. Take a look at our jargon buster to see what it all means.
Pension scammers are more likely to target you when you’re close to retirement age, so it’s important to know what to look out for so you can protect yourself and your money. Click below to find out more.
The State Pension
The State Pension provides a regular income from the government for those who have reached State Pension Age. To be eligible for the State Pension, you have to have paid sufficient qualifying National Insurance contributions or received equivalent National Insurance credits.