Steps to retirement
Steps to retirement
If you have any questions along the way, please contact the Plan administrator, Isio, who will be able to help.
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Request a retirement pack from Isio by completing the Request Retirement Quote form – this will ensure Isio have all the information to process your request. If you don’t request one, you’ll receive a retirement pack six months before your target retirement age.
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If the retirement date you provide is more than six months away, Isio will provide an estimate of your retirement benefits to help with your planning. If you decide to proceed with retirement, complete the Request Retirement Quote form again when you are within three months of your intended retirement date to request your final retirement pack.
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If you have AVCs, take guidance or financial advice – and tell Isio you have done so – to help you understand your options and decide what’s right for you.
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If you have AVCs, decide how you’ll be taking these and, if needed, research the market for your choice of drawdown or annuity provider. AVCs must be taken at the same time as your main Plan benefits.
- Beware of scams.
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Complete the retirement options forms from Isio to process your retirement choice. Please make sure you have agreed a leaving date with HR.
- Start enjoying your retirement.
New opportunities
No longer having to work might feel strange at first, but once the novelty has worn off, you might want to find something to do with the time you’ve now got on your hands.
Here are a few ideas:
- Hobbies – now is your chance to do all those things you love, that you didn’t have time for around hours spent at work.
- Learn something new – retirement is a great time to develop new skills and interests. Check out the Open University, your local college or the University of the Third Age.
- Volunteer – utilise your transferrable skills and get more involved in your local community.
- Work – this might be the last thing you fancy doing but many people take some part-time work to give structure to their lives, earn a bit of extra money or do something they enjoy.
Take care of yourself
Don’t forget to take advantage of the different health benefits you become entitled to when you reach certain ages:
- Free NHS eye test when you’re over 60
- Free NHS prescriptions in England and Wales when you’re over 60
- Flu jab – free to anyone over 65
- Free health check – anyone between the ages of 40 and 74 is eligible for a free NHS health check every five years.