Increasing Your Pension Benefits Oct 2018 | страница 16

with the proportion of additional pension you have bought to the date you stop paying .
If you later wish to re-commence payment you will be required to take out a new contract and produce medical evidence again . Your contributions will be different to the original contract because the rate is linked to your age .
If you leave ( other than on the grounds of ill health tiers 1 or 2 ) before completing the contract to buy additional pension you will be credited with the proportion bought to the date of leaving .
If , however , you are retired on health grounds under tiers 1 or 2 while paying additional contributions to increase your annual pension , the contributions will be deemed to be fully paid . This means that the full amount of additional pension you were buying will be used in the calculation of the benefits due .
What would happen if I were to die in service ?
Upon your death , no pension benefits would be paid to dependants in respect of the additional pension bought .
What if I choose to retire before Normal Pension Age ?
If you retire before your normal pension age and you have completed your contract , an actuarial reduction will apply to the additional pension to allow for early retirement .

SouthYorkshirePensionsAuthority

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