The Pearson Pension Plan

Having to consider retiring early due to poor health can be a difficult decision. For many people being able to access their pension earlier than the minimum pension age of 55 can bring a welcomed sense of relief.

This page outlines what you need to know about retiring due to ill-health, and additional information on the benefits available which vary depending on the section you are in.

Please note, the minimum pension age is set to increase to 57 on 6 April 2028.

Are the benefits different depending on your section?

The ill-health benefits are different for each of the sections of the Plan, so please find the information relevant for each section below:

• Money Purchase 2003 (MP03) Section

  If you are currently an active member of the Money Purchase 2003 (MP03) Section and are permanently unable to continue in employment due to ill-health, you may be able to retire early and begin receiving an ill-health pension of up to 50% of your pensionable salary, no matter your age.

• Auto Enrolment (AE) Section

  If you are a member of the Auto-Enrolment (AE) Section, you may be able to take your benefits early. If approved, you will be able to use covert your pension pot into a pension paid by the Plan.

• Defined Benefit Sections

  If you are a member of a Defined Benefit (DB) Section and you access your benefit earlier than 55 due to ill-health, the benefits available will be dependent on the DB section that you are in and whether you are an active contributing member or a deferred member who has left the Plan.

Do I need to provide any medical information?

Yes. If you need to take your benefits before the minimum retirement age, we will ask you to provide evidence of medical advice from your consultant or GP confirming the diagnosis and your life expectancy.

Your medical information will then be passed to the Trustee’s medical adviser to review. They will provide a recommendation to the Trustee who will then review your case to decide if you qualify to access your pension early.

Will other pension schemes offer the same terms?

If you have additional pension pots, you will need to ask the administrator of each arrangement what your options are if you are unable to work due to ill-health. Each pension arrangement is different and may have differing ill-health eligibility requirements.

MoneyHelper’s guide to ill-health and retirement

We recommend visiting MoneyHelper’s guide that outlines what you will need to consider if you are investigating retiring early on ill-health. The topics covered include:

• continuing to work (if you can) in a more suitable role
• flexible or part-time working
• the extra costs associated with a disability and if your pension can cover them
• finding a financial adviser to help you consider all your own financial circumstance

 

• How to notify the Plan of ill-health and what information you need to provide

  Please notify us if there is a possibility that you may need to retire due to ill-health. We will do all we can to help. Please contact the team;

  Email – pensions.helpline@pearson.com

  Phone – Helpline: (Freephone) 0800 7811378 (+44 203 7888562 if calling from outside the UK) Phone lines are open Monday – Friday 8.30am – 5.30pm, excluding bank holidays