Civil Service pension - reduction for taking early

JackieRHE

Has anyone taken their CS pension before the retirement age of 60?

I may have to take mine early at the age of 56.5 or 57.

I was told that this may reduce the amount by 5% a year - can anyone please let me know whether this is correct?

I recently left the CS; I was planning on working whilst studying but my family circumstances have dramatically changed.

I will now be caring for a relative and the carers allowance will not even pay my petrol for the week. At least i can continue my studies with the hope of a new career in the future.

Kind regards

Jackie

hugheskevi

There is a calculator at the bottom of this page which will calculate the impact on your pension.

JackieRHE

Dear Hugheskevi

Thank you - that is exactly what i need,

Jackie

sleepless_saver

Sorry to bring up a problem, but if you've actually resigned rather than official early retirement is your pension not preserved until scheme pension age? http://resources.civilservice.gov.uk/wp-content/uploads/2011/09/L2-Final-April-2009_tcm6-7446.pdf

If you are getting carers allowance and not yet entitled to pension, check out position on other benefits.

JackieRHE

Thank you, Sleepless Saver. I think you are right.

I will call the pension people tomorrow and check my situation.

I don't qualify for any other benefit - I am taking a not-so-small pension from a previous employment which means that, even if I were claiming contribution-based JSA, it would be reduced to zero.

If it doesn't work out I will get a part-time job and a engage a part-time carer (my relative will pay) and balance the two. It's all very uncertain at the moment as he is still in hospital.

Thank you for responding.