Partial Retirement Calculator
The Partial Retirement Calculator was released on Tuesday 12 December 2023 and available on the Partial Retirement page of our website until Friday 15 December 2023.
We have temporarily taken down the Partial Retirement Calculator in response to a member letting us know about a possible error in some of the information it was giving. We have investigated this and identified a fix. It is important that members can use the calculator with confidence, so we are now conducting user testing. To allow for comprehensive user testing, the calculator will be available again in early January 2024.
If you have received any applications for partial retirement where members have used the Partial Retirement Calculator between Tuesday 12 December 2023 and Friday 15 December 2023, you should check if the member is affected by the issue identified.
We have updated the Partial Retirement page of our website and added information to the Partial Retirement Supplementary Form to make members aware of this issue.
Only members aged between 55 and 60 who do not have special class status or Mental Health Officer status are affected. For these members, the calculator overstated the lump sum and benefits they could expect because it did not account for their normal retirement age of age 60. This means that the benefits they’d receive would be less than their estimate.
If you have already submitted an application for partial retirement and are concerned that the member is affected by this issue, do not worry, we can place the application on hold while we provide them with the correct estimate to be able to make the decision that’s right for them.
If you have an application for partial retirement ready to submit but are concerned that the member is affected by this issue, you can ask them to check their estimate once the Partial Retirement Calculator is available again. To allow for comprehensive user testing, the calculator will be available again in early January 2024.
Partial retirement forms
When completing the AW8 form for a member who is applying for partial retirement you don't need to indicate on the form that the member is re-employed as their employment will be continuing. The re-employment option is only for those members who are taking full retirement and then being re-employed.