Lump sum at 55

[brandypops]

Hi, I have worked for royal mail at 2 different times and have 2 separate pensions.
I'm trying to get some idea of what I could possibly expect as a lump sum if I take my pension at age 55, both pensions are deferred.
One states current value of annual pension NRA60 benefits £1,101.56.
The second is current value of annual pension NRA60 benefits £829.40.
Thank you for any help with this, much appreciated.

[NorthernBoy]

Assuming this is pension plan c and you are 55 now my estimate is as follows.

Lump sum around £7200
Annual pension around £1085

This is rough guess and assumes you have no AVCs and you have given up some pension to get the lump sum.

Regards.

[SWIM]

how have you worked that out from the info he's given you?
thanks.

[brandypops]

Thank you Northern Boy, that's what I roughly made it, appreciate you taking the time to respond.

[NorthernBoy]

Thank you Northern Boy, that's what I roughly made it, appreciate you taking the time to respond.

No problem.

I read on another post you can get your figures 4 months before your 55th birthday and they had a reply quickly from the pension teams.

[brandypops]

Many thanks for that, I will give them a call in the morning.

[NorthernBoy]

Many thanks for that, I will give them a call in the morning.

Can you let us know if the figures you get are similar to the ones that I estimated.

Will be useful info for everyone in working out their pensions if taking early.

Many thanks

[brandypops]

I will do, what you worked it out to is what I made it.