Civil Service Pension help required

SidneyT wrote: »

I am 40yrs old and earn £52000 per annum in the Civil Service.
I moved between the military-NHS-Civil Service and managed to accumulate/carry over 23yrs of equivalent pension (that's how it was calculated when I joined Civil Service Nuvos) in 2011.
I have since moved onto a career average pension but would like to retire aged 55yrs.
I am only after a rough figure but is anyone in a position to say how much pension I would receive at 55 considering my normal pension retirement age will be aged 68 when it finally comes around.

Given one element of your civil service pension is final salary based (viz., the Club transfer in(s)), that will depend on what promotions you are anticipating to get between now and 55. Beyond that, the Alpha accrual rate is 1/43.1. (Both Nuvos and Alpha revalue by CPI.)

So, to be cautious and assume future pay rises merely keep track of inflation, add your current actual salary x 15/43.1 to your last annual benefit statement Alpha total, then apply early retirement adjustments to (a) the Alpha total (b) the final salary and Nuvos elements. The reductions need to be applied separately since the final salary and Nuvos benefits will have a normal pension age of 65 not SPA. As a rough estimate, I'd reduce the Alpha total by half (13 years early) and reduce the FS/Nuvos parts by 40%.

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'I am 40yrs old and earn £52000 per annum in the Civil Service'

Phillip Hammond is right!