The date (usually the date of reaching a particular age) specified in the rules of an occupational pension scheme at which a member would normally retire. Occupational pension schemes, approved under Chapter I are required by the Inland Revenue to state a normal retirement date.
Refers to the expected or usual retirement date assumed when setting up a pension policy e.g. end of the month following 60th birthday.
Refers to the date when benefits can normally be taken from a pension scheme, as defined in the rules of the plan.