Retirement is an important life decision, and we know preparing for it can be complex and overwhelming. You want to have the best possible outcome and you most likely won’t have been through the process before.
Here are some useful steps to help you start retirement planning.
Step 1
Use our Retirement Illustrator and Budget Planner tools to help you to understand what your retirement may look like.
If you need to request a manual estimate from our EAPF Pension team at Capita, you can only request 1 calculation within a 12 month period.
If you’re a former employee of HM Inspectorate of Pollution (HMIP), you’ll need to contact our pensions team for a manual estimate as the Retirement Illustrator won’t be accurate.
Log into your EAPF Online account and use our Retirement illustrator tool.
Use our helpful Budget Planner tool.
Step 2
Look at our retirement process flow to help you understand the process and timings. Our retirement process flow explains who needs to do what, when certain steps will happen and how long it should take from start to finish. Click the one that applies to you below.
Retirement process for members without AVCs
Retirement process for members with AVCs
Step 3
When you’re happy with the figures and understand the process, speak to your line manager to agree a potential retirement date. Ideally, you’ll need around 12 weeks to ensure your pension is set up with a smooth transition of your pay from salary to pension.
Step 4
When you have a clearer idea of what you can expect, you need to request a formal retirement date. Your line manager will start the process via payroll who’ll inform Capita of your intention to retire so they can produce your options forms.
If you have an AVC, you may wish to consider stopping contributions in the month before your retirement, as in some cases, AVCs can occasionally cause delays because we have to wait for your AVC funds to be disinvested by your AVC provider. But this is entirely your decision, and we can’t give advice on whether you should do this. If there is a delay, you’ll always be paid what you’re due.
For more information, visit our ‘I’m thinking of retiring’ page.