A deferred benefit
If you have left your job or opted out of the pension scheme before retirement age, the pension you have built up stays in the Oxfordshire Pension Fund until:
- you decide to transfer it to another pension scheme
- you are eligible, and request to draw your pension
This pension is known as a deferred benefit.
When you leave
Your employer will tell us that you have left your job or opted out.
We will then explain your options.
After this, we will send you a statement each year showing the current value of your deferred benefit.
After the age of 55 (or 57 after 6 April 2028), you can request early payment of your pension. The fund will reduce your pension if you take it early.
If you become unwell and are unable to work, you may be able to take early payment of your pension on the grounds of ill health. You must discuss this with your former employer in the first instance.
