How to retire early?

inthebubble

Thanks for your insightful replies.

The government's recommendations about flexibility for AVC pots in DB schemes are fascinating and I've written to a policy person at my scheme to ask what they are planning to do in response. So big thanks for that.


The advice about a SIPP or similar, instead of AVC is really interesting and (assuming that LGPS doesn't budge on releasing AVC pots separately from main scheme pension) I'll definitely do that.

I have only one other question:

There seem to be quite a few posters, like me, who can take pre 2008 service in LGPS at age 60 with no reduction, due to the Rule of 85. But to take it then, we'd lose 25% on service 2008 to 2014 and even more post-2014, as everything has to be taken at the same time.

But, as there's no enhancement for deferring the pre-2008 service post age 60, there may be a point (between 60 and NPA/SPA) at which we'd be better off taking everything even if some of it is reduced, because we'd be getting more years of the pre-2008 service in payment.

But I don't know how to begin to work that out!

All best wishes.

kidmugsy

inthebubble wrote: »

But I don't know how to begin to work that out!

Schoolboy calculus. If you are mathematically illiterate, spreadsheets were invented for people just like you.