National Grid Pension

oneilly

Hi Guys,

Just looking for advice,

I have a deferred pension from National Grid from around 1990, i’ve Just looked on their pensions website on the deferred pensions section and it says the following.


“If you leave service due to redundancy, your deferred benefits will be payable from age 50 without any reduction for early payment.”

As I was made redundant in 1990, does this mean I can draw my pension from age 50 without reduction?

Or do I have to be in service at aged 50 and then made redundant to take unreduced pension.

Linton

I find it difficult to believe that a redundancy in 1990 gives you a free pass to claim early unreduced pension 28 or more years later. What is stated on a website isnt definitive - for a definitive answer you would need to look at the scheme rules and/or talk to National Grid.

oneilly

Linton wrote: »

I find it difficult to believe that a redundancy in 1990 gives you a free pass to claim early unreduced pension 28 or more years later. What is stated on a website isnt definitive - for a definitive answer you would need to look at the scheme rules and/or talk to National Grid.

Yeah I tend to agree with you, it’s just that statement on their website seemed to suggest that was the case.

I’ve dropped them an email for a definitive answer.

Thanks for your reply.

Esox

Not sure if you are gas or electricity (different pension schemes) but have you not been receiving an annual statement (which might explain things)?

badmemory

Were you 50 when you were made redundant?

talby

While not National Grid exactly, I worked in the electricity supply industry from 1985, firstly for the old CEGB, then Nuclear Electric (following privatisation), before being made redundant in 1995. I was able to get my pension at the age of 50 in 2014 which was a great help. I was sent an annual statement and then the papers laying out the options before signing. It's managed online by mercer as part of the "British Energy Generating group" (BEGG). There is a similar thread number 5302645 on here (sorry I can't post a link)

oneilly

badmemory wrote: »

Were you 50 when you were made redundant?

No, about 21

oneilly

Esox wrote: »

Not sure if you are gas or electricity (different pension schemes) but have you not been receiving an annual statement (which might explain things)?

Yes I do, it doesn’t say anything about being able to retire at 50, it’s just their website that appears to suggest I can, but I think it’s unlikely hence my question to see if anybody else had the same.