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Actuarial Reductions.
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Tr@cker
Posts: 532 Forumite
What exactly do they do with these ? If the rate is say 5% per year is that 25% if you retire 5 years early ? Or 5% on a reducing basis per year backwards from your normal retirement age ?
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It would depend on the rules of the scheme. Can you post the exact wording?0
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As you say an actuarial adjustment is applied if you are retiring early to account for the fact the pension is going to be in payment for longer. The exact rules and rate of the reduction will vary from scheme to scheme.I have worked for 5 years as a Pension Administrator and then a further year in a non-administrator pension role. I am not (and never have been) an adviser. Do not take anything I say as advice, it is information given on the best of my knowledge.0
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