RPS DC members
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  • DC Members

    About the scheme

  • When you take payment of your benefits

    When you retire your personal retirement account will be used to buy an annuity from an insurance company to provide a pension. You can also choose to take a tax-free cash lump sum of up to 25% of your personal retirement account.

    You can tailor your annuity so that it meets your personal needs. The choices generally available are:

    • to provide you with a pension paid to you for the rest of your life;
    • to secure a guaranteed payment period, in case you die shortly after retirement;
    • to secure increases to your pension over and above those required by law; and
    • to provide benefits for a surviving spouse.

    From the state you will get any basic state pension and State Second Pension (S2P) you are entitled to from state pension age. See Quick Links - State Second Pension.

  • quicklinks