Local government pensions and the Tories

badmark

If you take pension at 55 I think there is a reduction in benefit for taking it early (as you get it early) with mine it depends how many years early you take it but at 50 pension is reduced by 54% lump sum 31% at 65 it would be the full pension. There is some protection from this reduction but I have yet to be given a figure as to how much

Old_Slaphead

badmark wrote: »

Over the years public sector pensions were always sacrosanct until some smart fund manager as if it was a surprise said "oh everybody is living longer" panic panic, despite pension holidays etc we are now living with the fall out. In this age of accountability I dont see anyone taking the can for the !!!! ups. It all started to go pear shaped with Maggy Thatcher, god love her, how the mighty are fallen (over) we get what we deserve.

What's Thatcher got to do with increased longevity, low annuity rates, the current parlous state of the UK economy, Brown's tax raids on pensions and his vast expansion of the public sector?

They're the main factors contributing to the demise of private pensions and the vastly increased cost of public ones.

EdInvestor

marklv wrote: »

Is there a way to calculate your SERPS/S2P entitlement?
I can't find any online calculator, not even from the official website.

No, you have to get a state pension forecast, which includes your S2P entitlement

https://www.thepensionservice.gov.uk