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The Postal Services Act 2011 (Transfer of Assets) Order 2012
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Voluntary withdrawal and ill-health retirement
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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.
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