Pension at 55

afcmark · Post by **afcmark** » 30 Jun 2020, 16:54

Sorry to be a pain. This question has probably been done. But it's doing my head in.
In seven years time I will be 55 years old with 38 years service.
How much am I looking at?
Not too bothered about a lump sum.
But a couple of examples would be very much appreciated.
Cheers!

Post by **freespeech** » 30 Jun 2020, 17:22

afcmark wrote:Sorry to be a pain. This question has probably been done. But it's doing my head in.
In seven years time I will be 55 years old with 38 years service.
How much am I looking at?
Not too bothered about a lump sum.
But a couple of examples would be very much appreciated.
Cheers!

So many unknowns there!!!!

Sounds like you are in section C? What did the pensionable salary show as on last years statement?

afcmark · Post by **afcmark** » 30 Jun 2020, 17:43

Thanks for the reply.
Sorry but I have no clue and don't have it to hand.
It's only very recently I've taken an interest.
I'll try dig something out.
Cheers !

Edward Hunter · Post by **Edward Hunter** » 01 Jul 2020, 23:05

You get an estimate every year, At least you have 7 years to have a look.

But take your max lump sum as its tax free.

afcmark · Post by **afcmark** » 02 Jul 2020, 13:56

Yeah my own fault. I had a big clear out and must've shredded em,
along with my RM share certificate. Whoops!
Turned out to be an expensive shred as they want £25 and £42 for replacements.
I'll wait for the pension statement.
Was just sniffing around for a rough estimate.
Yep! And hopefully seven years for EVR to pop up.

maisymoo04 · Post by **maisymoo04** » 02 Jul 2020, 19:12

oh there will be EVR don't you worry

maisymoo04 · Post by **maisymoo04** » 02 Jul 2020, 19:16

I no a guy who has 40 years in he is 56 started as a messenger boy, when he turned 55 he got £45000 lump sum and gets £150 week got to be the section A am guessing

mark.cup · Post by **mark.cup** » 02 Jul 2020, 19:40

maisymoo04 wrote:I no a guy who has 40 years in he is 56 started as a messenger boy, when he turned 55 he got £45000 lump sum and gets £150 week got to be the section A am guessing

I know that he took it early but considering it was meant to be such a great scheme that has
since been watered down several times God only knows how some people will ever be able to retire prior to state pension age and not be skint

renrag40 · Post by **renrag40** » 03 Jul 2020, 20:42

He is in Section B, Section A was closed to new entrants in 1971.

maisymoo04 · Post by **maisymoo04** » 04 Jul 2020, 21:40

renrag40 wrote:He is in Section B, Section A was closed to new entrants in 1971.

correct rag is B

Dindin · Post by **Dindin** » 05 Jul 2020, 07:33

maisymoo04 wrote:I no a guy who has 40 years in he is 56 started as a messenger boy, when he turned 55 he got £45000 lump sum and gets £150 week got to be the section A am guessing

they had messenger boys in 1980?

Post by **Steve_claret** » 06 Jul 2020, 07:51

Just about. They still had telegrams in 1980 when I worked on the counter. A real pain to price them up correctly and you always got a telling off from the telegram duty in the back office if you undercharged.

Driver74 · Post by **Driver74** » 06 Jul 2020, 20:58

Telegram boys on the motorcycles finished earlier than 1980 I think vans delivered them for a while my time on telegrams ended in 76 not long after it finished

Dindin · Post by **Dindin** » 07 Jul 2020, 22:10

Driver74 wrote:Telegram boys on the motorcycles finished earlier than 1980 I think vans delivered them for a while my time on telegrams ended in 76 not long after it finished

I think you're right. I think they mean cadet