Change to the minimum retirement age

1st December 2009

Did you know? The earliest date that you can take your pension from any pension scheme is changing to age 55 from 6 April 2010. If you’re thinking of taking your pension before age 55, here’s some information about the steps you need to take now to make sure you get your Sainsbury’s pension before 6 April

Change to minimum retirement age PDF

2009 Accounts

30th July 2009

We are pleased to make available the 2009 accounts. These will open in a new window as Adobe Acrbat documents. Please select a scheme from the links below:

2009 Accounts JSPDBS

2009 Accounts JSEPS

Change to the revaluation of preserved pensions

On leaving the Scheme a member’s deferred or preserved pension is automatically increased under the Scheme rules in accordance with the minimum statutory requirements. The level of statutory increase applying to deferred pensions earned from pensionable service after 5 April 2009 has changed and these benefits will be increased in line with the Retail Prices Index subject to a maximum of 2.5% per annum. Following this change to the statutory increase rates the increases that will be applied to a member’s pension in excess of their Guaranteed Minimum Pension during deferment are:

• Pension accrued to 5 April 2009: increased by the Retail Prices Index (inflation) up to a maximum of 5% per year

• Pension accrued from 6 April 2009: increased by the Retail Prices Index (inflation) up to a maximum of 2.5% per year

The rates of revaluation are subject to change in future in accordance with statutory minimum requirements.

The current rate at which preserved pensions must be revalued is RPI inflation, subject to an annual cap of 5%. For pensions attributable to pensionable service accrued after 6 April 2009, the cap is being reduced to 2.5%. Under schemes' Rules, the new cap will apply automatically.

In the event of queries please call the Pensions Department on 0207 695 8502.