Hi ,
Just wondering if anyone has an idea of how they calculate taking your pension at 55 . I was in A/B of pension scheme in 80s to mid 90s . I have asked for calculation to be sent . But was just wondering if anyone has an idea of how they work this out .
Many thanks
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Pension at 55
-
RobertT
- EX ROYAL MAIL
- Posts: 6645
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Pension at 55
If you left in the 90's then all of your pension will have a Normal Retirement Age of 60.
There is a 5% per year reduction if take it before NRA.
So if you want to take it at 55, take 25% off the figures on your latest statement(you should have been getting them since you left).
Bear in mind that the income you get from your RM pension(but not the lump sum) will potentially be taxed, depending on what other income you have.
There's lots more info on the pensions website.
There is a 5% per year reduction if take it before NRA.
So if you want to take it at 55, take 25% off the figures on your latest statement(you should have been getting them since you left).
Bear in mind that the income you get from your RM pension(but not the lump sum) will potentially be taxed, depending on what other income you have.
There's lots more info on the pensions website.
Links to all RM pension related websites are here