Introducing the Plan
The Lilly Plan was set up to provide employees with a good foundation for their retirement planning.
The Lilly Plan is a Defined Benefit (DB) pension plan. This means that the pension you earn is based on your salary whilst you worked at Lilly (your ‘Pensionable earnings’) and the length of time you worked at Lilly (your ‘Pensionable Service’)
The Plan provides different benefits for Pensionable Service before and after 1 January 2011. Your total pension is the sum of your pre 2011 and 2011 benefits added together.
The Plan’s Normal Retirement Date is 65. Unless you’re suffering from ill health you must be over age 55 to start taking your benefits, as this is the minimum retirement age at the moment (this is set to rise to 57 in 2028). If you take your benefits early, they will be reduced to take account of the fact that they will be paid for longer.
You can also continue to build benefits in the Plan after you turn 65 if you’re still employed by Lilly.
For more information, please read the Lilly Plan member booklet
Our Trustees play a vital role in managing and safeguarding the Plan ensuring that it operates in the best interests of all its members.
Each Trustee brings a unique set of skills and experiences to the board, contributing to a well-rounded and effective team. You can find biographies of our Trustees here.