taking Pension

deano12 · Post by **deano12** » 26 Sep 2018, 18:41

Hi all . Quick question. If l take my pension 18 months early, will l lose 10% or 7.5%. Just curious. Cheers

Post by **hantsman** » 26 Sep 2018, 18:59

deano12 wrote:Hi all . Quick question. If l take my pension 18 months early, will l lose 10% or 7.5%. Just curious. Cheers

It would make sense to wait.

deano12 · Post by **deano12** » 26 Sep 2018, 19:11

l know m8, but life changes, sometimes for the worst

Post by **RobertT** » 26 Sep 2018, 19:17

deano12 wrote:Hi all . Quick question. If l take my pension 18 months early, will l lose 10% or 7.5%. Just curious. Cheers

I would agree with Hantsman, but to answer your question, the reduction would be a percentage based on how long you've got until NRA.

So if you want to take all of your pension at age 58.5 for example, then your NRA60 would be reduced by 7.5% and your NRA65 by 32.5%.

deano12 · Post by **deano12** » 26 Sep 2018, 19:36

Cheers Robert T. Just curious. I,ll be taking it in March ,when l,m 59. Would like the lump sum in the bank in case my health gets worse. Thanks again