SHPS | Defined Contribution

If you were to die while still working and saving for your pension your dependants would receive a sum of money. To ensure the money goes to the right people you need to complete a Nomination Form which you can download or get from The Pensions Trust.

As a member you may also be eligible for ill-health benefits. This means that if there was satisfactory medical evidence that you have become too ill to work you may be able to use your savings pot to buy a pension (annuity) at any age.

When you reach State Pension age you'll also receive a pension from the State. Most people receive a basic State Pension and depending on your National Insurance contributions you may also receive a State Second Pension (also known as S2P). State benefits are payable from your State Pension age which will not necessarily be the same as your retirement age under the Scheme.