You can choose to take your pension and continue working for TSB, provided TSB agrees.
If you do this, you can also choose to rejoin the Scheme and continue to contribute, and TSB will make contributions too. This is known as flexible retirement.
Flexible retirement can be a gradual way of easing you into retirement, and can support lifestyle changes as you may be able to reduce your hours.
What do I need to do?
If you wish to consider taking flexible retirement, you can request a quote by contacting Equiniti.
Once you have received your quotes, you will need to review these and determine whether you would like to take flexible retirement or not.
If you would like to go ahead, complete the paperwork you received and send it back to Equiniti.
You will then receive confirmation of the date your payments commence.
- If you are a UK tax payer, you may have to pay tax on your retirement income.
- If you reduce your hours you may take a drop in pay. If your retirement income is small, you could be worse off.
- The way you take your retirement benefits may impact how much you can save in the future.
- The earliest you can receive your State Pension is when you reach State Pension Age but you can consider deferring it. Visit the GOV.UK website for more information.