Staff Guidance

Once you reach 55, you are free to decide when you wish to retire. You may wish to discuss with your Line Manager whether it might be possible to reduce your working hours before full retirement and access your pension flexibly.

The timing will depend on a number of factors, both work-related and personal. Your personal circumstances, financial position, whether your role can be undertaken in a flexible way, and the work-life balance you aspire to will be major influences.

Please note that if your role is revised, your terms and conditions will likely change.

If you are an active member of the NHS scheme or a USS member aged 55 or over, you can access a proportion of your pension and a lump sum while continuing to work, but with either a reduced salary or reduced hours. You can flexibly access your pension twice whilst continuing to work before finally retiring.

SAUL do not currently offer the option of flexible retirement.

You decide how much pension to access, but remember that pension payments and your salary from Imperial are taxed.

You will need the consent of your department. Your line manager will need to consider the impact of your proposed work pattern on the department. So that they can do this, you will need to propose how your work can be delivered. You may need to be flexible here, and there might need to be some give-and-take on both sides. Your department will also need to agree on the date your flexible retirement can commence, along with the reduction of working hours and/or salary, before approval can be granted.

If a flexible retirement request is approved, it must be agreed to as part of a package that includes a final retirement, normally within three years but exceptionally up to five years. This is in consideration of the need for succession planning, resource planning, and ensuring that the needs of key stakeholders and operational requirements are met. Any agreement to retirements beyond three years must have the approval of the Faculty Dean or Director of Support Services, along with the Chief People Officer.

Once approved, the arrangement will constitute a formal agreement between you and Imperial to vary your contract terms and conditions and for your final retirement to take place on or before a specified date. If you decide to leave before the specified date, your normal contractual notice will continue to apply. Full retirement will therefore commence within three years of the start of your flexible retirement period and the first time you flexibly access some pension. Any further flexes must be within this specified date.

If you wish to request flexible retirement, you need to complete a Flexible retirement form and email it to your Line Manager, Head of Department and Director of Operations for their consideration. If your request is successful, your line manager will pass the form to the People Function for processing. You will then receive confirmation in writing. If your request is unsuccessful, your line manager will let you know and explain the reasons for it. If your request was unsuccessful, you may not make another request until one year has passed.

In some circumstances, you may be able to draw all of your pension and be rehired on a new contract. If you retire before age 66 (or 60 for some), your pension may still be reduced. You can check your retirement age and request a quotation by contacting pensions@imperial.ac.uk .

You will need the consent of your department. When considering whether they can accommodate your request, they will take into account whether this fits with the operational needs of the department. So that they can do this, you will need to propose how your work can be delivered. You may need to be flexible here; there might need to be some give and take on both sides. If re-employment can be offered, it will be after a break of at least a full calendar month, i.e. the whole of January (part-months don't count), and will only be in a part-time role with a maximum of 50% of full-time hours. You will be issued a new employment contract, which will normally last for a maximum of three years, but could be for less.

Upon commencing your new contract, you will automatically be entered into the pension scheme, as Imperial has a duty to auto-enrol all staff. You may opt out of the scheme if you wish.

If you wish to request partial retirement, you need to complete a Partial Retirement Form and email it to your Line Manager, Head of Department and Director of Operations for their consideration. If your request is successful, your line manager will pass the form to the People Function for processing and a new contract request. Your retirement cannot occur until at least three months after your application has been approved, and you must not return to employment until you have claimed your pension and it has been put into payment.

If your request is unsuccessful, your line manager will let you know and explain why. You may not make another request until one year has passed.

The guidance is for those who are in good health and wish to retire after age 55. If you are too ill to work, you may be eligible to receive an ill-health retirement pension, which can be paid immediately, regardless of age, and, depending on the nature of your illness, may be enhanced to include the period you would have worked to normal retirement age. If you're seriously ill with a shortened life expectancy, you may even be able to convert your future pension payments into an immediate cash lump sum.

If you believe this may apply to you, you should ask your Line Manager to refer you to Occupational Health, or if you prefer, you can self-refer. An Occupational Health Advisor or Physician will be able to discuss with you whether you may qualify for retirement on medical grounds and advise you on the next steps to take. 

Support can also be provided by Confidential Care, which offers a free counselling service.

Although we are unable to confirm whether you qualify for medical retirement, only the pension scheme Trustees can do this, you may wish to speak confidentially to a Pensions Specialist who will be able to discuss the options that may be available. To do that, please contact us by email.

Imperial regularly runs Pre-Retirement workshops to help staff manage the transition from work to retirement.

Staff are actively encouraged to attend. Information can be found on the workshop web pages.