30.12.2025
Find out the answers to the most common questions
When can I start taking my payments from the PPF?
If you’re aged 55 or over you can start your payments at any time between now and your 75th birthday.
Changes in UK legislation mean that from April 2028 the minimum pension age is changing from 55 to 57. If you’ve not reached age 55 – or if you’re aged between 55 and 57 and have not chosen to take your PPF compensation – by April 2028, you won’t be able to do so until you turn 57.
How much will I get?
You can find out how much you can expect to receive using the Benefit Modeller on our member website.
You can view how your payments might change by moving the slider to:
- An age earlier than your retirement age
- An age past your normal retirement age
- To change the lump sum amount you’d like to receive when starting your payments
This can help you make decisions on how you’d like to retire such as retiring early or taking a larger lump sum. We know everyone has different circumstances so you may find it useful to get advice from an independent financial advisor.
How do I start my payments?
The quickest and simplest way to start receiving your PPF payments is with Quote & Retire on our member website. You can do it yourself, without having to submit any paper forms.
Can I take a lump sum?
Yes, in most cases you can take up to 25 per cent of the value of your compensation as a tax-free lump sum when you decide to retire.
Can I set a future date for my payments to start?
Yes. You can now retire online up to three months in advance, using Quote and Retire, safe in the knowledge that your payments will start exactly when you want them to.
I’m some time away from my former scheme’s normal pension age. What should I do?
We’ll get in touch nearer the time to remind you of your options. Make sure you’ve registered on our website so we have your email address and you can keep all your other details up to date.
In the meantime, the Benefit Modeller can help with your retirement planning by showing you how much you can expect to receive. When you’re ready to set a date for your PPF payments to start, you can use Quote & Retire as long as you’re aged 55–74.
