I’ll be 55 in 2026 but don’t you incur a 5% penalty - PER YEAR - if you draw on your pension before 60? So for example, if you drew on it at 55 that’s 5% x 5 years = 25% penalty. That’s a lot.
That applies to your NRA60 benefits, but if you take your NRA65 at 55, you'll see a 50% hit.
No it's not a 50 % hit at 55 ,it's 25 % at 55
If you actually read what is written it clearly says if you take your NRA65 at 55 you'll see a 50% hit
I’ll be 55 in 2026 but don’t you incur a 5% penalty - PER YEAR - if you draw on your pension before 60? So for example, if you drew on it at 55 that’s 5% x 5 years = 25% penalty. That’s a lot.
That applies to your NRA60 benefits, but if you take your NRA65 at 55, you'll see a 50% hit.
No it's not a 50 % hit at 55 ,it's 25 % at 55
If you actually read what is written it clearly says if you take your NRA65 at 55 you'll see a 50% hit
Won't be taking NRA65 @ 55 , NRA60 for me
Good for you but robert t was trying to help other people by explaining if your also taking your nra 65 at 55 they would lose 50% of that.from somebody who like myself who has no idea about pensions you now seem to be an expert
but don’t you incur a 5% penalty - PER YEAR - if you draw on your pension before 60? So for example, if you drew on it at 55 that’s 5% x 5 years = 25% penalty. That’s a lot.
