When can you take your RPF benefits?
If you left active service of RPF (i.e. you no longer work for Thomson Reuters and pay contributions to RPF) before 6 April 2006 you can draw your pension benefits from age 55. If you left active service after 5 April 2006 you are entitled to draw your benefits from age 50. Please note that should you retire before your Normal Retirement Age your benefits will be reduced to reflect the earlier (and potentially longer) payment.
What benefits will be available to you on retirement?
You can choose to take a tax free lump sum and a reduced pension or a higher pension and no cash. If you choose to take cash on retirement, this will not affect the benefits payable in the event of your death. Additional options such as an uplift for unmarried members or a higher spouse's pension on death (by sacrificing part of your own pension) are available. Please ask about these options as soon as you start your retirement process from RPF as they must be chosen before the benefits are put into payment.
You may be able to transfer your RPF benefits to another pension arrangement before your benefits start to be paid. Complex rules apply to the transfer of benefits in order to protect them from scams so if you are considering this option please contact the Thomson Reuters Member Services Centre for more information.
Retiring early due to serious ill-health
If you are in serious ill-health you may be able to start drawing your benefits early and in some cases you may be allowed to take a higher lump sum, at the Trustees' discretion. Medical evidence of your health is required. You should contact the Thomson Reuters Member Services Centre for more information about serious ill-health retirement. Please note that if you do not qualify for serious ill-health retirement, even if your health is poor you will not be able to access your RPF benefits before the minimum age that applies to you (as explained above).
For more information on any of the above please contact the Thomson Reuters Member Services Centre by clicking here. Full contact details for the Thomson Reuters Member Services Centre can be found in the Contact Us page.