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british steel pension scheme
colmel16
Posts: 42 Forumite
The british steel pension scheme recently closed its defined benefit scheme . One option would be to be moved into the pension protection fund with a 10% reduction in benefits. Can anyone tell me how this would change my benefits in respect to early retirement. I am 51 years old and under the bsps scheme could take my pension any time from now to 65. there would be reductions up to 65 when I would get 17k per year. what would I receive at 55 and 60 years of age from the "pensions lifeboat" . Thanks
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Comments
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PPF allows early payment of compensation.
Under normal situations this requires 6 months notice.
Minimum age 55 unless the scheme being compensated had preserved rights to a lower age.
The periodic payment is reduced by a factor designed to be actuarially neutral. Any separate lump sum is paid in full.0 -
Free the dunston one next time too.0
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