Early retirement – can consent be withheld?


As a method of controlling costs in defined benefit schemes, some employer/trustees are looking afresh at the provisions of early retirement pensions. Scheme rules commonly allow members to retire early upon reaching a minimum age (often 50), but such pensions can be costly because they are paid earlier and over a longer period of time. Here we outline some issues to consider before adopting a policy to refuse early retirements.

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