Claiming a frozen pension at 55

monome

I have nearly 20 years pension in what was a public sector employer. It was privatised a number of years after I left.


Having done the math, and taking personal circumstances into account I would like to start claiming this pension now. Is this something I can do? I've looked online but it isn't too clear.


Thanks

westv

Do "frozen pensions" actually exist anymore or is it a bit like "gas board and "electric board" which some people still use even though "boards" disappeared years ago?

jaybeetoo

Why don’t you contact the pension department and ask?

dunstonh

The term frozen still exists to mean something specific. However, it is nearly always misused by the public. And this thread is misusing the term.

Question is not able to be answered as there are many public sector pensions and the terms vary with each.

bluenose1

My civil service pension was deferred when I left ie I stopped paying into the scheme and am not yet getting any pension.
You will have to contact the pension administrator as to what are the rules of taking it before the recognised normal pension age for your scheme and the actuary reduction.
I have decided to retire and take mine at 55.

Dox

No good asking here when you've not said which scheme it is or given the necessary info - but why aren't you just contacting those running the scheme, who can give you a definitive answer?

xylophone

what was a public sector employer. It was privatised a number of years after I left.

What information do you have about your deferred pension?

Do you have a Scheme Booklet?

Do you receive annual statements?

Afraid_of_Kittens

I have recently been advised I can take 3 of my pensions at 55 but with a 22% reduction in value.

dwsjarcmcd

Afraid_of_Kittens wrote: »

I have recently been advised I can take 3 of my pensions at 55 but with a 22% reduction in value.

Yes but being paid for 5 to 10 years longer than if you had taken it at NRD

k6chris

Afraid_of_Kittens wrote: »

I have recently been advised I can take 3 of my pensions at 55 but with a 22% reduction in value.

What is your NRA (normal retirement age) for that pension?

monome

Thank you all for your replies, much appreciated.


I have tried on quite a few occasions now to call the Royal Mail (the organisation in question) Pension Service but despite hanging on for ages. I posted here in case there was a generic answer for all pension schemes.


Reading through the last pension booklet I received it wasn't clear if I could take the pension at 55. If I was still employed there I definitely could. As an former employee I'm not so sure.


Reckon I best try getting through to them again.