Manweb Group of the Electricity Supply Pension Scheme
Your retirement options explained | 2026
Welcome to your guide to the retirement options available from the Manweb Group of the Electricity Supply Pension Scheme. It provides information about how each of the options work and the things you should consider before making your choice. It should be read along with your retirement quotation letter and pack. It’ll help you to make an informed decision that aligns with your retirement goals and lifestyle plans.
If you have any queries about the Group, please look at the Member Guide, go to OneView, or contact Aptia.
Retirement Options
Option 1
Annual pension plus additional cash lump sum
Option 2
Reduced annual pension plus maximum cash lump sum
Option 3
Annual pension plus additional cash lump sum with Pension Increase Exchange (PIE)
Option 4
Reduced annual pension with Pension Increase Exchange (PIE) plus maximum cash lump sum
Option 5
Cash Equivalent Transfer Value (CETV)
Option 6
Trivial Commutation
Independent financial advice
You should always consider taking FCA-regulated financial advice before making any decisions about your retirement benefits. For help choosing an adviser please go to the MoneyHelper website.
Useful contacts
MoneyHelper A free, Government-backed service offering impartial help on all aspects of money, including benefits, savings, budgeting and pension choices. It includes Pension Wise, which offers free, impartial guidance on retirement options for people aged 50 and over. Visit www.moneyhelper.org.uk.
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