BGCM EC May 2017

Contents

1. INTRODUCTION ..............................................................................................................5

2. MAIN FEATURES OF THE SCHEME ............................................................................7

What will you get? .................................................................................................................7

Your future pension ...............................................................................................................7

Your Dependants ...................................................................................................................7

What do you pay? ..................................................................................................................8

3. STATE PENSION BENEFITS ..........................................................................................9

4. JOINING THE SCHEME ............................................................................................ 1210

Who can join the scheme? ............................................................................................... 1210

When can I join? .............................................................................................................. 1210

How do I join? ................................................................................................................. 1210

Do I have to join?............................................................................................................. 1311

Other pension schemes .................................................................................................... 1311

5. WHAT WILL IT COST? ............................................................................................. 1412

Member contributions ...................................................................................................... 1412

Additional Voluntary Contributions (AVCs)................................................................... 1412

GFTU contributions ......................................................................................................... 1513

6. RETIREMENT............................................................................................................. 1614

When do I retire? ............................................................................................................. 1614

Can I retire earlier? .......................................................................................................... 1614

What if I retire early because I am suffering from ill-health? ......................................... 1816

Can I retire later? ............................................................................................................. 1917

7. HOW IS MY PENSION CALCULATED? ................................................................. 2119

For members who joined the Scheme before 1 July 2011 ............................................... 2119

For members who joined on or after 1 July 2011 ............................................................ 2220

CAN I RECEIVE A LUMP SUM AS WELL AS (OR INSTEAD OF) A PENSION? ...... 2321

Commutation.................................................................... Error! Bookmark not defined. 21

Taking all of your pension as a cash lump sum .............................................................. 2422

8. BENEFITS ON DEATH .............................................................................................. 2523

What happens if I die and I was still working for the GFTU?......................................... 2523

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