Accessing my Civil Service pension

jillysteve

I am a 46 year old ex civil servant. I am now working part time self emloyed and am on a fairly low income and in receipt of Tax Credits.

I spent about seven years in the civil service during the nineties. At the last count I had ammassed a lump sum pension of about £3,000. Could you tell me if there is any way i can gain access to these funds now instead of when I retire? What is the earliest I can officially obtain the money? Are there any organisations that will buy my pension from me? My pension is linked to inflation, so is there any way I can ascertain what it's equivalent value would be today?

Thank you for your attention.

Andy_L

No, you cannot access the pension until you retire

The earliest you can do this is 50 but you will have it reduced for taking it early

NB there are no "funds" as such - current employer/employee contributions are used to pay the pensions of the retired

if you look on the website you can find out the annual rpi rates used to increase the pension or you can contact them & ask for an estimate

http://www.civilservice-pensions.gov.uk/

dunstonh

I spent about seven years in the civil service during the nineties. At the last count I had ammassed a lump sum pension of about £3,000

seven years service and a transfer value of just £3000 seems extremely low. Are you reading that right? Could it be £3000 a year?

Andy_L

tbh I jumped to the conclusion it was the annual pension - put the OP on about 46k when they left (top 5% of civil servants so plausible)