Civil service pension early

moo121

I'm not too sure of the calculation but I think it was a refund of my contributions minus those for the years of my marriage plus a bit of interest. For me it came to over £2k even with the insurance "premium" of quite a few hundreds deducted.

remyroo

Hi. I've now received my pension quote from Mycsp and pleased to say the calculator link from James (thanks again) was spot on. My pension at 51 and 5 months will be reduced by 32.4 per cent which is a lot less than the 5 per cent per year I was told by Mycsp every time I rang them. Maybe they need to amend their guidance and website as a lot of people have probably been dissuaded from taking their pension early because of the "about 5 per cent" statement.

jamesperrett

I'd guess that they are preparing people for the worst case scenario - if you want to take your pension only a year early then the 5% figure is pretty accurate. The figures also change from year to year and seem to be slightly worse now compared to last year.