Find out the estimated value of your Plan benefits in your benefit statement on MyPension. You can access your benefits any time from age 55.
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Don't risk losing it all. It’s time to get into the detail and understand your expected income from all sources.
Do you know...
1. Where your retirement income is coming from?
2. If your right target retirement age is correct?
3. About the free guidance service the Plan offers?
Where is your retirement income coming from?
Knowing this will help you better understand the lifestyle you’ll be able to afford, when to take your Plan benefits, and if you need to make any changes now. Your income could come from:
Other pension savings could include previous employer or private pensions. If you’ve lost track of any of these, the Pensions Tracing Service can help.
The amount you’ll receive depends on factors like when you were born and how much National Insurance you have built up. For example if you were born after October 1954, your State Pension won’t be paid until you’re at least 66. Calculate your State Pension Age.
You might have other personal savings such as ISAs, investments or rental income, which you plan to use in retirement.
Is your Plan retirement age correct?
You can currently access your Plan benefits at any age between 55 and 75.
If you select an age this will be known as your Target Retirement Age. If you make no selection it will be set at the Plan’s Normal Retirement Age of age 60.
Making sure we have the right age for you is particularly important if you are invested in an investment option that uses your Target Retirement Age to work out when to switch funds.
Select or view your Target Retirement Age on MyPension.
Free Retirement Guidance Service
To help employees consider their Plan options and make informed decisions, one free guidance session is available for all past and present employees of J.P. Morgan who retain a pension account, and are approaching retirement.
The sessions, paid for by the Company, allow you to discuss your Plan options in the context of your wider financial circumstances, with a retirement specialist.
For more, see your My Retirement Guide.
Further advice
The Retirement Guidance Service is one guidance option open to you.
You can also access more general guidance through The Money and Pensions Service. Launched in January 2019, it combines the services of Pension Wise, Money Advice Service and The Pension Advisory Service into one new body.
You may also appoint an impartial financial adviser at any time and we recommend this before taking any important decision regarding your pension.