Benefits on ill-heath
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Many schemes provide
benefits if a member is declared in a state of ill-health. What
constitutes ill-health will depend on the definition of
ill-health (which can be found in the schemes Trust Deed and
Rules). In commonly means some level of inability to work either
in your current job or any job.
It is common to provide the member
with a pension payable for life from your current age and available
without reduction (remember if you take your pension early in normal
circumstances it is likely it will be reduced). The calculation of
the pension may also include service the member would have completed
to NRA had they not retired on ill-health.
It may also be possible
in circumstances of extreme ill-health (i.e. life expectancy
measured in months rather than years) to exchange the pension for a
cash lump sum.
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If you have a pensions
related question then please let us
know.
If it's something other people
would find useful then we will post an answer in our Frequently Asked Question
(FAQ) area.
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Use our online calculator
to get an estimate of your basic state pension.
Its free and
simple to use you can even include it on your own website!
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Read the guide to
investment in the pensions guide. It explains what you need to
think about before investing for your retirement.
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Tell a friend about
Essential Pensions. Send an automatic message to your friends
email account about the site.
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