Retirement
If you want to stop working and are eligible to retire and claim your pension benefits from the Teachers Superannuation Order 2011, please contact us at pensions@pspa.im and we will provide you with an estimate request form. Please note if you do not have a confirmed retirement date there may be a £70 charge per estimate.
Your latest annual benefit statement will give you an estimate of the benefits you can expect.
If you are definitely retiring, meaning you have already confirmed your resignation with your employer and have a leaving date, then we are happy to supply you with an estimate of your retirement pension and lump sum free of charge.
If you require a retirement estimate, please complete the Estimate Request Form and return it to the PSPA.
Once you receive your confirmed retirement estimate you will need to:
- Choose the level of pension and any cash lump sum you want
- Complete all of the forms we send you with your estimate
- Provide us with some identification documents
Once these are completed correctly and we have received the necessary pay and service data from your Employer’s Payroll, we will be able to settle your claim and start paying your benefits.
We recommend you take the time to read the information provided with your estimate very carefully.
Important things you should know
- Pensions are paid monthly on the 25th of each month
- Whilst we will endeavour to settle your claim on time, receipt of your first pension instalment plus any lump sum can take up to two months after your retirement date
- Lump sums are paid directly into your bank account on Fridays only
Deferred Members
Your latest annual statement will tell you what benefits you can expect.
If you need another estimate then please request one by completing the Estimate Request Form and returning to us. Please note there may be a charge for providing this estimate.
Charging for Retirement Estimates
The PSPA may make a charge for providing you with an estimate, please refer to our Schedule of Charges or the Charges page of this website for more information.
