Partial Retirement

If you have taken partial retirement, Remedy may affect the benefits linked to your service during the Remedy period.

This can be more complex, as it may involve benefits already taken as well as benefits you have not yet accessed.

If you are affected, we will contact you and explain what this means for your pension and any decisions you may need to make.

If you took partial retirement during the Remedy period

If you took partial retirement during the Remedy period and this included Remedy benefits, you may receive an Immediate Choice Remediable Service Statement (RSS). Current CSPS guidance explains that members in this position will receive an Immediate Choice RSS, and that any benefits paid at final retirement will match the option selected at partial retirement.

This means your earlier Remedy decision may affect how remaining benefits are treated when you retire fully.

Your statement or retirement information will explain how this applies to you.

If you’ve already made your Remedy choice

If you’ve taken partial retirement and already made your Remedy choice, your future statements may reflect the option you selected.

Current CSPS guidance explains that active Remedy members who have taken partial retirement and already made their Remedy decision will receive a single ABS based on benefits accrued during re-employment, and any remaining benefits not taken at the time, under the Remedy option selected on partial retirement.

This means: if you’ve already made your Remedy choice as part of partial retirement, future information should follow that choice for the benefits linked to it.

If you’re considering partial retirement

If you’re thinking about partial retirement, you should continue to use the normal retirement planning guidance.

If Remedy applies to you, we’ll provide relevant information during the process. This may include details about how your benefits for the Remedy period are treated, whether you have a choice to make and how that choice could affect benefits you take now or later.

You should read any partial retirement quote, statement or supporting guidance carefully before making a decision.

We cannot recommend whether partial retirement is right for you or which Remedy option is best for you.

You may wish to consider independent financial advice before making any pension decisions.