You can choose to retire on your 65th birthday - the Plan’s normal retirement age. This is also your Target Retirement Age, if you haven’t chosen a different one. You might be able to retire early from age 55 (57 from April 2028) but, if you are still working for Sky and want to stop working for Sky, you may need Sky’s permission to do so. You can continue to work for Sky and take your individual account at the same time.
The size of your individual account and the amount of income you can get when you retire will depend on things like how long you save for, how much you pay into your pot and how well your investments have performed. If you take your pension before age 65, these factors become very important as you’ll be taking the money from your individual account early. Will you have enough to live on if you take your individual account before Normal Retirement Age?
Early retirement
Currently you’ll need to have reached your 55th birthday before you can retire and may need Sky’s permission to take early retirement. The earliest age at which early retirement can be taken will increase to 57 from April 2028. This is usually the case if you are still working for Sky and are planning to stop working for them.
The Normal Retirement Age for the Plan is 65 so if you want to retire before then, and haven’t let us know, you’ll need to give us some notice. We ask that you contact us 3 months prior to your intended retirement date so we can get all the documents together for you. riweifpjfgojrnk