The Fund's Trust Deed and Rules set out the age when members can start taking their benefits, but overriding pensions tax legislation sets out the earliest age when members benefits can generally take their benefits without incurring higher tax charges. This is known as the normal minimum pension age and it is currently set at age 55.

However, the Government is raising the normal minimum pension age to 57 in April 2028. This means that, from April 2028, you won't be able to take your pension benefits before age 57 unless you're either retiring because of ill health or you have something called a protected pension age.

If you joined the Fund - or another pension scheme that merged into the Fund - before 6 April 2006, you may have a protected pension age of 50. This means the normal minimum pension age wouldn't apply to the benefits you have in the Fund and you can take them from age 50 if you leave Nestlé's employment and then retire.

If you joined the Fund on or after 6 April 2006 but before 4 November 2021, you may have a protected pension age of 55. This will depend on a number of factors including what type of Fund membership you have and whether you are an active or deferred member at the time you want to take early retirement.

If you joined the Fund on or after 4 November 2021, you won't have a protected pension age in the Fund. So, from April 2028, the earliest you'll be able to take your benefits in the Fund will be age 57 unless you're retiring on account of ill health. Until April 2028, though, you'll still be able to take your benefits at age 55.

If you have defined benefits, taking your pension earlier or later than your normal pension age will affect how much you receive when you start taking your pension. For example, if you take your pension before your normal pension age, it will be reduced as it's likely it will be paid for longer. If you retire later than your normal pension age, your pension may be increased as it's likely to be paid for a shorter period of time.

Your normal pension age will depend on which section(s) of the Fund you were a member of. To find out what your normal pension age is, whether you have a protected pension age and how retiring early or late might affect your pension benefits, please contact Nestlé Pensions.

If you have a DC Start or DC Core account and you decide to buy an annuity with your account, the pension you'll receive will depend on the value of your account when you retire, the type of annuity you choose, and the cost of buying a pension at that time.

For more information about your retirement options, please contact Nestlé Pensions.