Since changes to partial retirement were announced earlier this year, we’ve been working hard to make sure our processes, tools, and guidance are updated to support members and employers.
As part of this work, the Government Actuary’s Department (GAD) has been commissioned by DHSC to develop a calculator to help members plan how much of their pension to take at partial retirement. The intention was for this calculator to be ready by 1 October, but amendments are currently being finalised following extensive user testing. We want to be sure the calculator provides accurate information to help members with their decision, so we’re sorry to say there will be a short delay before we can make it available. We do not expect this delay to be long and we will publish the calculator as soon as it is ready in October.
We recognise that some members may have been waiting for the calculator before submitting their partial retirement application. Members are able to retrospectively apply for partial retirement from 1 October 2023 and we will backdate payments to their chosen retirement date where needed.