The Postal Services Act 2011 (Transfer of Assets) Order 2012

Voluntary withdrawal and ill-health retirement

4.—(1) The following table shows the assumed rates of voluntary withdrawal and ill health retirement in the year following the age shown—

Age	Voluntary withdrawal rate	Ill-health retirement rate
		Male	Female
20	0.1700	0.0004	0.0004
25	0.1200	0.0004	0.0004
30	0.0700	0.0004	0.0004
35	0.0430	0.0005	0.0005
40	0.0360	0.0008	0.0008
45	0.0285	0.0011	0.0011
50	0.0210	0.0011	0.0015
55	0.0135	0.0075	0.0084
60	0.0000	0.0075	0.0131

(2) No allowance may be made for members retiring before their Normal Retirement Date in normal health, and no allowance is to be made for the exercise of members’ options such as commutation. A member’s Normal Retirement Date is 60 for pensionable service up to 31 March 2010 and 65 for pensionable service after this date. Members who have already attained age 60 must be assumed to retire immediately or at age 65, whichever is later.