British Steel Pension Scheme
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Deferred Pensioners

Early Retirement

The minimum age at which early payment of a deferred pension is allowed (other than on the grounds of Incapacity) is 55, with the exception of Deferred Pensioners whose period of Pensionable Service commenced prior to 6 April 2006, who retain the right to retire from age 50 under legislation.

Leaving Service

If you leave the Standard Section before Normal Pension Age, the options available to you are: If you have less than 3 months pensionable service You will automatically receive a refund of your own contributions paid to the Standard Section less the following deductions:

Incapacity Retirement

  If you qualify as permanently unable to carry out any gainful employment due to Incapacity, your deferred pension can be paid from the date that qualification is established.  Your pension, including increases from date of leaving, is paid without reduction. Please read the In

Trivial Commutation

In certain circumstances it is possible for a member of a Registered Pension Scheme to take all their benefits as a one-off lump sum using the trivial commutation rules. Deferred pensioners and pensioners who have reached the age of 60, can have their “trivial” pension benefi


What is the earliest age I can receive my pension? See Early Retirement under the appropriate benefit category. Employee Members Deferred Pensioners Maternity Leave /Adoption If you are on maternity leave/adoption leave, your Scheme membership will continue. Scheme contribut