When can my deferred pension be paid?

Your deferred pension can currently be paid when you reach age 55 (increasing to 58 from 2028). If it is paid before a certain age (see below) it will be reduced for early payment. An indicative retirement quotation at your chosen retirement age can be obtained from the ZF UK Pension Plan Member Website. If you are over age 55 and considering immediate retirement then a full retirement quotation can be obtained by contacting the Plan administrator.

The age at which your pension can be paid without reduction is dependent upon the section of the Plan that you’re a member of:

Closed Staff

• If you left before 12 November 1991

  For males your pension can be paid without reduction from age 62 ½. If you are female your pension can be paid without reduction from age 57 ½.

• If you left after 11 November 1991

  Your normal retirement age is 65, however your pension can be paid without reduction from age 60. Part of your benefits include an early retirement allowance, which is a cash balance used to purchase additional pension. This is reduced by 1/30th for each month you retire after age 62 ½.

Closed Works

• If you left before 12 November 1991

  For males your pension can be paid without reduction from age 65. If you are female your pension can be paid without reduction from age 60.

• If you left after 11 November 1991

  Your normal retirement age is 65, however your pension can be paid without reduction from age 60. Part of your benefits include an early retirement allowance, which is a cash balance used to purchase additional pension. This is reduced by 1/30th for each month you retire after age 62 ½.

Closed 80ths, Closed 100ths (2004), Closed 100ths (2006), Closed SRBS (A) 2004

Your pension can be paid without reduction from age 65.

Closed TRW UK, Closed TRW Steering Systems

Your pension can be paid without reduction from age 65.

Closed SRBS (A), Closed SRBS (C)

• If you left before 12 November 1991

  For males your pension can be paid without reduction from age 62 ½. If you are female your pension can be paid without reduction from age 57 ½.

• If you left after 11 November 1991

  Your normal retirement age is 62 ½, however your pension can be paid without reduction from age 60. Part of your benefits include an early retirement allowance, which is a cash balance used to purchase additional pension. This is reduced by 1/30th for each month you retire after age 62 ½.

Closed SRBS (A) 57 ½, Closed SRBS (C) 57 ½, Closed Staff 57 ½

Your pension can be paid without reduction from age 57 ½.

ZF Great Britain, ZF Lemforder

Your pension can be paid without reduction from age 65.