Retiring early

For Leonardo Electronics members

If you’re thinking about retiring before your normal retirement date (age 65), there are two really important factors to consider:

• do you understand how your pension is reduced for early retirement?
• will your income be sufficient to enable you to retire early?

The pension modeller is a useful tool to help you plan for your retirement and consider the impact on your pension of retiring at different retirement ages. You should request a pension quote to review your finances and help with your retirement planning. There is also more information in the Scheme booklet that applies to your section of the Scheme.

For former BAE Systems members

If you’re in the Main section, the 2000 section or the 100 + (pre-April 2005) section, it is possible for you to draw your BAE Systems pension while continuing to be an active member of the Leonardo Electronics Pension Scheme. There may be adverse implications if you do choose to take your pension benefits at different times and therefore it’s important to consider your options carefully.

2000 members

Find out how the 2006 changes to the early retirement factors in the BAE 2000 Pension Plan affect you.

Main and 100+ Section (pre-April 2005 joiners)

Find out more about taking early retirement from the BAE Systems Pension Scheme.