British Steel Pension Scheme
text size A A A

Keyword Search?

Deferred Pensioners

A deferred pension is a pension payable from the Standard Section at normal pension age to an individual who is no longer accruing pensionable service in the Scheme.

As a deferred member, you can either leave your pension in the Scheme until it is due for payment at your normal pension age or you can transfer it to a new employer's scheme or any other registered pension arrangement.

It can normally be drawn earlier, subject to reduction for early payment – see Early payment of Deferred pension.

Soon after you left the Standard Section, the Pensions Office will have written to you setting out the deferred pension built up in respect of your Standard Section membership and outlining the options available to you. Members receive an annual update on the value of their deferred pension.

For those who left service on 31 March 2017 a Deferred Benefit Statement Explanatory Guide is available which can be accessed by clicking here.