RBS Pension

Nurse_Liz

Just received a nice statement from RBS showing my estimated retirement options (£'s) at NPD (Normal Pension Date), accrued from my 17 years service there. I read more and got excited because it mentions that currently the earliest age at which a reduced pension (or lump sum plus further reduced pension) may be paid is 50...I am 50 in May 2010. Then I read further and the letter states that the law changes in April 2010 when the minimum age is upped to 55! So it seems I miss out on this option next year by a month? Aahh! For one reason or another as a hardworking but hard up nurse a little bit of money next year would have been so helpful. Is there no loophole around this in any way?

The letter also says that I may transfer my benefits (before 30 Sept 2009) to another suitably approved pension arrangement however it also clearly states that in doing so I can't cash in the pension and take it as a lump sum. My current pension is obviously with the NHS, and not sure if it means to that or else a private pension.

If there are any miracle ideas or suggestions they would be so gratefully received....however I suspect there is nothing I can do....but thanks anyway.