Will I be granted extra pension?

Will I be granted extra pension?

Not necessarily! Your employer can award additional annual pension, to help to compensate for membership that you may lose because you are being retired early, of up to £6,500 (less any amount of additional annual pension your employer has already contributed towards or is contributing towards under a shared cost additional pension contributions contract).

Additional pension is granted at the discretion of your employer therefore no member has an automatic right to be awarded it.

Because your employer will have to meet all the costs of awarding additional pension, they may choose to grant you the maximum or a smaller pension or nothing at all.