NRA 65 + cash balance fund

[sam63]

I turn 60 in April but already have my NRA 60 which I took at 56 currently an exPHG on manual nights so with wages and pension earnings come in at just under £43500 which is just below the 41% tax threshold .
Started in GPO in 1980.
Got my quote in for my NRA 65, the option 2 lump sums come to £15830 plus yearly pension total of £2374, my cash balance fund is £24985 which reading on here if I understand correctly 25% is tax free - £6k approx and the remaining £18K or so is taxed which in my case would be at 42% as I live in Scotland and the 42% kicks in at £43663.
So does this mean that I would pay roughly £7560 tax on the e remaining £18K of the cash balance ?
If correct is there any way this can be avoided or reduced without reducing hours or retiring which isn’t an option at the moment?

Thanks

[robking]

Why do you need to take your NRA 65 pension 5 years early? unless you're deep in debt or something and really need the money now, the best option is to claim it when you actually stop working and to keep paying in £4000 a year if you're already getting a pension and still working, (£3600 if you're not working.)
You can defer taking a pension until you are 75 working or not.

[Jaggs]

I'm only in the rmdcp so not sure of the ins and outs of the dbcbs but could you take your NRA65 benefits but leave the dbcbs as it is and continue paying into it? Then when you finally retire you could take 25% tax free lump sum from it and also either buy an annuity or move the rest into a pension drawdown account.

[Jaggs]

keep paying in £4000 a year if you're already getting a pension and still working, (£3600 if you're not working.)

I don't think the £4000 a year MPAA would apply here as it sounds like all of the pensions being taken are defined benefit.

[RobertT]

I'm only in the rmdcp so not sure of the ins and outs of the dbcbs but could you take your NRA65 benefits but leave the dbcbs as it is and continue paying into it? Then when you finally retire you could take 25% tax free lump sum from it and also either buy an annuity or move the rest into a pension drawdown account.

Once you take you NRA65, you cease to be a member of the RMPP and no further payments are allowed. That also includes AVC's.

[RobertT]

keep paying in £4000 a year if you're already getting a pension and still working, (£3600 if you're not working.)

I don't think the £4000 a year MPAA would apply here as it sounds like all of the pensions being taken are defined benefit.

Correct! The MPAA only applies to DC pensions.