Employee Pension Notice - EPN 03/2017 - Buying Effective Pension Age (EPA) Option for 2017-18

Date published: 13 January 2017

If you are a member of alpha you can choose to pay extra contributions to buy an Effective Pension Age (EPA) option. The extra contributions let you build up an EPA portion of your alpha pension that can be paid in full (without any early payment reduction) one, two or three years earlier than your standard alpha pension. Your EPA portion builds up as a separate alpha pension, at a rate of 2.32 per cent of your Pensionable earnings each scheme year. If you are a member of alpha and wish to purchase EPA you can only do so by monthly contributions and an EPA can only start at the beginning of the scheme year, 1 April.

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