Deferring the 65 part of the pension

Post by **fly-catchers** » 04 Dec 2016, 21:08

I reach 60 in Jan 2018. If the Career salary pension does close in March 2018 and is replaced by a DC one. Should I decide to retire after that happens and chose to defer the 65 part till I am 65 will I still lose any of the Career salary pension part of the 65 part? Or only a reduction to the new DC one.

Post by **RobertT** » 05 Dec 2016, 05:31

Assuming closure on 31 March 2018, your NRA65 pension will be worth a maximum of 8 years service(2010-2018), a little bit less if you retire in January 2018. If you take that at 65 it won’t be reduced, if you take it earlier it will be.

The DC pension is just a pot of money the value of which will depend on how much goes in and the investment returns. You will have a number of options with it, taking an income for life(an annuity) is just one of them. More info: https://www.moneyadviceservice.org.uk/e ... on-schemes" onclick="window.open(this.href);return false;

Post by **fly-catchers** » 05 Dec 2016, 11:59

Thanks Robert :)