Civil Service Alpha Added Pension Calculator - Wrong?

hugheskevi

If I retire at say 56 how much reduction would my Alpha pension be ?
As classic says 5% per year but Alpha just says a reduction

You can use the retirement modeller or the buy-out calculator to see.

Bravepants

Also, there is an Excel calculator available on the MyCSP site:


"alpha-early-retirement-and-age-addition factors..." I got it in December 2017 and was valid from APril 2018.



There is a worksheet tab for each normal retirement age.



So in my case it would be 67 NRA, the table then presents a reduction factor for age (including months!) before NRA.



For example, here is a list of reduction factors for your planned retirement age of 56 for each NRA:


NRA = 68, reduction at 56 = 0.537
NRA = 67, reduction at 56 = 0.568
NRA = 66, reduction at 56 = 0.601
NRA = 65, reduction at 56 = 0.635
NRA = 60, reduction at 56 = 0.825


So if your NRA is 68, and you retire at 56 you will get 0.537 times the amount due at 68.



Check the site for an up-to-date calculator though.



Cheers,
P

marlot

hugheskevi wrote: »

You can use the retirement modeller or the buy-out calculator to see.

I hadn't seen the retirement modeller on there previously. It even does Nuvos and Alpha. Very useful - thanks