Retirement guides and documentation
A scheme member can elect to take payment of their pension benefits from age 55 on termination of their employment. The Scheme member does not require employer consent and should have been provided with an estimate of any reduction to their pension before making such an election. You will find more information on retirement in the following guides.
Once the member has told you they want to retire and has confirmed a retirement date, here’s what you need to do:
1. Complete the leaver process via the UPM Employer portal as soon as possible, and at least 30 days before the retirement date.
Please note: we no longer accept ‘Intention to retire’ forms.
2. After you have completed the leaver process, we set up a case on behalf of the member. If they are aged 55 or over (or taking flexible retirement/redundancy), the case is passed to our Retirements Team for processing.
3. We then process the figures for the member’s pension. If we have any queries relating to the details you have provided, we will contact you. It’s important that you respond to any queries in good time so that we can resolve them as quickly as possible.
Please note: we can’t process the member’s retirement figures until you have responded to all the queries.
4. Once we have the required information, we send a retirement pack to the member, which includes the forms they need to complete and return to us – along with details of any additional documents we require.
5. Once we have received the completed forms and requested documents, we process the payment of the member’s retirement benefits and send them a confirmation letter.
Please note: if the member has had a change of pay after you have submitted the leaver form, you can submit the revised pay information on your next monthly return. This will open a revision case for us, so we can process the change in pay.
Alternatively, you can fill in a contact form to notify us about a member’s change of pay. You do not need to send us a new leaver form.