Pension and ihr

[blondieb]

I have worked 16 and half yr with rm paid into pension plan c. Now at age 53 am being ihr what is the scenario with pension, can I still take my pension at 55 yr or is it frozen till 67,if I can take pension at 55 what would be the max lump I could take and what N average would monthly pension be afterwards many thanks

[RobertT]

I have worked 16 and half yr with rm paid into pension plan c. Now at age 53 am being ihr what is the scenario with pension, can I still take my pension at 55 yr or is it frozen till 67

You can still take your pension any time after 55 if you want to, but it gets reduced by 5% for each year you take it before normal retirement age. So taking it all at 55 would result in the NRA60 element reduced by 25% and the NRA65 part by 50%. The lump sums would also face the same reductions if you chose to take them.

if I can take pension at 55 what would be the max lump I could take and what N average would monthly pension be afterwards many thanks

No one on here will be able to tell you that because the information you need will be on your annual statement.

[blondieb]

Thanks for the responce