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Staying in work

Learn about the rules and tax implications of staying in, or returning to work, after taking your Fund pension.

Working while taking your pension

If you're not ready to leave BTP then you may be able to keep working and start taking your pension at any time from age 55, up to age 75.

You will not be able to continue working and start taking your pension before age 55, even if you have a Protected Pension Age (PPA).

If you want to take your pension while still employed by BTP, you will need your employer's agreement.

Visit the when to retire page for further information about your NRA and the impact of retiring early or late.

You can also find more information in your Member Guide when you log into your myFund account.

The wider implications of staying in work while taking your pension

Whether you decide to stay in work or not, once you start to take your pension, you are no longer covered for death in service cover from the Fund, or eligible for incapacity retirement.

Taking your pension while you're still working may also have an impact on the amount of tax you pay, particularly if your total income, including pension payments and wages, is over the Personal Allowance or takes you into a higher tax band.

Visit gov.uk for more information about your Personal Allowance and Income Tax rates.

Speak to your employer if you want to stay in work while taking your pension

You need your employer's permission if you stay in work and want to start taking your pension.

If you're still working, speak to your employer about your future pension arrangements.

Retiring and returning to work

If you retire and start taking your pension, you can still decide to work again at a later date.

If you start taking your benefits after age 55, then there will be no restrictions on you working for BTP in the future.

If you retire due to ill-health, are under your NRA, and you start working again, your incapacity pension may be impacted.

Read more about ill-health retirement on the when to retire page.

Gov.uk

Visit the government website for more information about your Personal Allowance and Income Tax rates.

Who to contact about working while taking your pension

If you are thinking about staying in work and applying for your pension, you should speak to your employer in the first instance.

You might also want to consider taking independent financial advice about your pension options and possible tax issues before you make a decision.

Visit the guidance and advice page for help finding a financial advisor.

If you are taking your pension, visit the area for retired members of this website and want to know more about continuing, or returning to, work.