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Choosing when to retire

Most members can access their pension benefits at any time from age 55 – this is rising to age 57 in April 2028. However, some members who joined the Fund before 6 April 2006 will still be able to access their pension benefits from age 50. If you have defined benefits, taking your pension earlier or later than your normal pension age will affect how much you receive when you start taking your pension. For example, if you take your pension before your normal pension age, it will be reduced because it will be paid for longer. If you retire later than your normal pension age, your pension may be increased to reflect the later start date.

Your normal pension age will depend on which section(s) you were a member of. To find out what your normal pension age is, and how retiring early or late might affect your pension benefits, please contact Nestlé Pensions.

If you have a DC Start or DC Core account and you decide to buy an annuity with your account, the pension you’ll receive will depend on the value of your account when you retire, the type of annuity you choose and the cost of buying a pension at that time.