Partial Retirement/Drawdown Declaration Form

• I confirm I will have a minimum of 10% reduction in pensionable pay in the 365 days following drawdown.
• I understand if I do not comply with the 10% reduction my pension will be abated
• I understand the pensionable pay used to calculate the reduction is my actual pensionable pay received in the 365 days prior to drawdown
• I understand I need to remain in the pension scheme for a minimum of 1 month following drawdown
• If I have a salary sacrifice that will cease within the 12 months following drawdown, I understand this will increase my pensionable pay so I will ensure I have not exceeded the 10% reduction
• I have read the members partial retirement factsheet and used the calculator provided.
• I understand the implications of McCloud if this affects me
• I understand I can only drawdown on 2 occasions and will not exceed this
• I am aware this may reduce any redundancy payments in the future