Your retirement age
We've assumed you'll start using your money when you turn 65.
If the Trustees and Unilever agree, you might be able to start taking your money earlier. Under current tax rules, you can start taking your money at any time after your 55th birthday. The Government is consulting on changing these rules to increase this age to 57 in 2028.
You can only start taking your money once you've stopped working for Unilever, though.
If you're using automatic switching and you'd like to retire earlier or later than 65, you'll need to change your retirement age. You can do this on PlanViewer.
Taking your money earlier
If you become seriously ill and can no longer work for Unilever, you may be able to start taking your money earlier than 55.
To be eligible for this, you would have to meet a very strict set of criteria. Your condition must:
- be permanent, and
- prevent you from carrying out your job, or a job with similar duties
- severely reduce the amount you can earn.
More about ill health retirement
If you've chosen to pay for Voluntary serious ill health DC benefit and you're eligible to receive it, you'll get money from this benefit on top of what you've built up in the Plan.
Taking your money later
You usually have to take your money at 65, or whenever you stop working for Unilever if it's after then.
If the Trustees and Unilever agree, you might be able to start taking your money later. The latest they'll usually agree you can take your money is 75. You might also be able to start taking your money later if you move your money to a different pension arrangement.
Because of tax rules, if you start taking your money after 75, you won't be able to take your 25% cash lump sum tax-free.