Lose 25%

[woofwoof]

So if you reach 55 and take your pension early if you wait till say 57, do you then lose 15% on your birthday or is it on your day of joining the pension.

[RobertT]

You lose 5% for each year you take your pension before Normal Retirement Age. So if you take all of it at age 55, your NRA60 benefits are reduced by 25% and your NRA65 by 50%.

Part years would see a pro rata reduction.

[jackipal]

Is the reduction already calculated in the pension quotes you receive if taking it early

[woofwoof]

You lose 5% for each year you take your pension before Normal Retirement Age. So if you take all of it at age 55, your NRA60 benefits are reduced by 25% and your NRA65 by 50%.

Part years would see a pro rata reduction.

Thats what I was thinking pro rata

[RobertT]

Is the reduction already calculated in the pension quotes you receive if taking it early

Yes.