I am getting close to retirement

If you no longer need to cover anyone else’s financial security, you should remove your survivors’ cover to ensure a higher pension for yourself.

The survivors’ cover costs more the closer to retirement you get, so it’s valuable to remove when you no longer need it.

If you have ITP 2 and get a raise when you have less than five years left to pension, you may get a premium cutting (i.e. your premium will not take your whole salary into account). This happens if your salary is raised more than a certain per cent or if you start working more hours when you have less than five years left to pension.

The majority of people retire at 65, but you can choose to begin to receive your pension from 55 at the earliest and 67 at the latest. You can choose to have your pension paid for the rest of your life or over a shorter period. Read more in our checklist for retirement.