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  • What are the late retirement increases?

What are the late retirement increases?

If you choose to voluntarily retire after your Normal Pension Age, your benefits are initially calculated as detailed in the section how your pension is calculated and are then increased accordingly.

There is 0.010% increase on the pension and a 0.001% increase on any automatic lump sum for each day these benefits are drawn late.

Remember that your pension has to be paid by the day before your 75th birthday.

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