Taking USS Flexible Retirement --- What I can't work out is ..

Simes122

Interesting - does the Px3 lumps each time, use the abated P figure?  So in your 2 x Flex example

50% pension - then really the lump sum is P x 0.5 x 3 (at that point)
Further 30% = P x 0.3 x 3 at that point
Remaining 20% = P x 0.2 x 3 at that point etc?  

I can't imagine you'd get 3 x your total P three times if you see what I mean - that really would be a free lunch!

PJM_62

Simes122 said:

Interesting - does the Px3 lumps each time, use the abated P figure?  So in your 2 x Flex example

50% pension - then really the lump sum is P x 0.5 x 3 (at that point)
Further 30% = P x 0.3 x 3 at that point
Remaining 20% = P x 0.2 x 3 at that point etc?  

I can't imagine you'd get 3 x your total P three times if you see what I mean - that really would be a free lunch!

So,  if pension was 12k before any reductions and ERF was 0.75

A flex taking 50% would be (50% of 12k) x 0.75 = 4.5k   
+ TFLS of 3 x 4.5 = 13.5k  (but could be much more if there is a big IB pot). 

PJM_62

Now that I know that you carry with you forever, the £ of each flex as it was at time of flexing ,
going for the 80% of P flex with its ERF reduction,  looks less tasty.

I know I only want to work for another 2 years max. 
It would be interesting project forward , comparing the £maths of
carrying on as I am for 2 more years (full time, with salary as now),  - against -  a flex to a 4 day week for 2 years, taking 20% (or 50%) of pension on top of the 4 days a week salary.

I'm rubbish with spreadsheets.  If anyone knows of a website that lets you do such calcs I'd be very interested.

bluenose1

PJM_62 said:

Now that I know that you carry with you forever, the £ of each flex as it was at time of flexing ,
going for the 80% of P flex with its ERF reduction,  looks less tasty.

I know I only want to work for another 2 years max. 
It would be interesting project forward , comparing the £maths of
carrying on as I am for 2 more years (full time, with salary as now),  - against -  a flex to a 4 day week for 2 years, taking 20% (or 50%) of pension on top of the 4 days a week salary.

I'm rubbish with spreadsheets.  If anyone knows of a website that lets you do such calcs I'd be very interested.

You may find putting the different scenarios into guiide.co.uk to see how each of the options works out. You can click for it to factor in inflation.
I found it really useful and think it’s a great option if you aren’t into spreadsheets. 

PJM_62

bluenose1 said:

You may find putting the different scenarios into guiide.co.uk to see how each of the options works out. You can click for it to factor in inflation.
I found it really useful and think it’s a great option if you aren’t into spreadsheets. 

Thanks!
That looks exactly like what I need.
👍