Partial early retirement
You can also take partial early retirement. This has to be in proportion to your working hours. For example, if you continue to work for 60% of your normal hours, you can have 40% of your pension come into payment.
Once your part-time pension has come into payment, you can no longer reduce this. Partial retirement will terminate on your retirement date.
You can take partial retirement from your 50th birthday. You can also continue to work on a part-time basis (at least 50%). The amount of your part-time pension will depend on the percentage that you work part-time. You will continue to accrue pension as normal in proportion to the hours you work part-time. You can no longer take partial retirement after reaching 68 years of age. At this point, you can choose between:
- continuing to work full-time until you reach 70 years of age; or
- taking full retirement.
You have to ask Mars for approval if you wish to;
- continue to work after your retirement age (68 years);
- take partial retirement;
- retire before reaching your AOW age.
