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    • SidneyT
    • By SidneyT 15th Jul 17, 10:39 AM
    • 2Posts
    • 0Thanks
    SidneyT
    Civil Service Pension help required
    • #1
    • 15th Jul 17, 10:39 AM
    Civil Service Pension help required 15th Jul 17 at 10:39 AM
    Hi all,
    I would like some assistance with my pension, as follows...
    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.
    Very best wishes,
    Sidney
Page 1
    • Kynthia
    • By Kynthia 15th Jul 17, 11:41 AM
    • 4,968 Posts
    • 6,940 Thanks
    Kynthia
    • #2
    • 15th Jul 17, 11:41 AM
    • #2
    • 15th Jul 17, 11:41 AM
    Hi all,
    I would like some assistance with my pension, as follows...
    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.
    Very best wishes,
    Sidney
    Originally posted by SidneyT
    Have you used the early retirement estimater on the official website?
    http://www.civilservicepensionscheme.org.uk/members/member-calculators/
    Don't listen to me, I'm no expert!
    • hyubh
    • By hyubh 15th Jul 17, 12:00 PM
    • 1,887 Posts
    • 1,400 Thanks
    hyubh
    • #3
    • 15th Jul 17, 12:00 PM
    • #3
    • 15th Jul 17, 12:00 PM
    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.
    Originally posted by SidneyT
    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%.
    • SidneyT
    • By SidneyT 16th Jul 17, 9:02 PM
    • 2 Posts
    • 0 Thanks
    SidneyT
    • #4
    • 16th Jul 17, 9:02 PM
    • #4
    • 16th Jul 17, 9:02 PM
    Many thanks for the assistance, pensions are not an easy thing to negotiate round
    • sebthered
    • By sebthered 17th Jul 17, 5:14 PM
    • 29 Posts
    • 8 Thanks
    sebthered
    • #5
    • 17th Jul 17, 5:14 PM
    • #5
    • 17th Jul 17, 5:14 PM
    '
    'I am 40yrs old and earn £52000 per annum in the Civil Service'

    Phillip Hammond is right!
    • hyubh
    • By hyubh 17th Jul 17, 9:26 PM
    • 1,887 Posts
    • 1,400 Thanks
    hyubh
    • #6
    • 17th Jul 17, 9:26 PM
    • #6
    • 17th Jul 17, 9:26 PM
    '
    'I am 40yrs old and earn £52000 per annum in the Civil Service'

    Phillip Hammond is right!
    Originally posted by sebthered
    Your neck of the private sector operates a system of full communism? Where do I sign up...?
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