FAQs on Quote & Retire


If you’re 55 or over you can process your retirement yourself online, without having to submit any paper forms.

You can also retire in advance. If you know you’d like to retire within the next 3 months, log in to this site and select ‘Quote & Retire’ from the ‘My Compensation’ menu located in the main menu bar. During the process, you'll be able to select your retirement date and complete the process, safe in the knowledge that your pension will start exactly when you want it to.

If the date you’ve chosen is more than a month away we’ll write to you nearer the time to confirm your payments. There’s nothing more you need to do.

You can use it if you’re between the ages of 55 or 75.

Most schemes allow us to offer you up to 25% of your compensation as a tax-free lump sum. Quote & Retire includes a recalculate page where you can reduce this amount if you wish. Reducing your tax-free cash allowance will increase your monthly amount for life and will be detailed on the recalculate page.

Some schemes made an allowance for something called a Separate Scheme Lump Sum (SSLS). If your scheme included this type of payment you won’t be able to change the amount of lump sum you receive.

If this doesn’t answer your question, or if you’d like to find out more about what’s happening with your compensation, please don’t hesitate to contact us.

To view a summary of what you’ve chosen, log in to the homepage, then click ‘Quote & Retire’ from the ‘My Compensation’ dropdown menu. Click through the Quote & Retire welcome page and the personal details confirmation screen and your summary will appear.

A ‘Cancel’ button is also available on this page should you wish to cancel your retirement. Follow the on-screen prompts after clicking the button to submit your cancellation request.

If these options don't appear under the 'My Compensation' menu and instead you see options to view payslips and update your bank details, it means your request has been processed for payment. You'll be able to view a letter detailing your payments in the 'My Letters' section of the site which is accessible via the 'Communications' menu in the main menu bar.

There are certain circumstances in which Quote & Retire doesn’t work, even if you’re over the minimum retirement age. For example, if you’ve previously taken part of your compensation then the facility will not work. There are also some schemes which require us to check the calculation before sending you a quote, so these also cannot be processed online.

If Quote & Retire is generating an error message for you, please contact us so that we can investigate why this is happening and produce a retirement quote for you (if appropriate).

If you’ve opted to receive a tax-free lump sum as part of your compensation it’ll be in your bank account within 3-5 working days of the retirement date you’ve chosen. If you’ve opted to take a Trivial Commutation lump sum with no monthly income for life, it’ll be paid to you on our next available payment date. There’s more information about our payment dates below.

The monthly compensation payable for life will commence on the soonest available date after your retirement date (the same applies for Trivial Commutation payments). We pay all our PPF members on the 1st of every month. If the 1st falls on a weekend or a bank holiday, then you’ll be paid the previous working day, so it’s always on time or early.

If your retirement date is towards the end of the month, it might be too close for us to pay you for the next month and we may need to delay your payment until the one after. If this is the case, Quote & Retire will confirm when you submit your request and let you know when you can expect your first payment (or Trivial Commutation payment).

If you have an older account that comes with either a bank reference number or a roll number it could be a building society account. If you're unsure, please check with your bank or building society and they will confirm this for you.

Please be advised that we’re unable to make payments to any accounts with these sort codes: 60-94-63, 60-94-64, 60-94-67, 60-94-68 and 60-95-24.

Post Office Accounts (POCAs) were created for Government payments only and have now been discontinued. If you need any assistance please contact us.

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