USS Flexible Retirement (pros and cons)

atw_uss

I'm now within a year of the magical 55, and having said I'd work until 60, I've started to explore the USS Flexible Retirement option. I've had a chat with someone from USS, so I think I've got my head around most of it now (apart from the TFLS, see below). I really like the thought of being able to go down to three or four days a week, taking as little pension as possible so that I can continue to build up benefits while enjoying not having to work as much.

I'm interested in hearing from anyone who has gone down this route and/or who knows about the pros and cons, taking more or less % of the pension. On paper it looks pretty good - I still enjoy my job, so it makes sense to stay in the sector, but just have to do a bit less. I realise that my employer would have to agree to this too.

The one bit I don't really understand is the lump sum ... if I take 20% of my pension on the initial flex, does that also mean I can/must take a fifth of the lump sum too?

Many thanks in advance for any thoughts!

PJM_62

Bumping this ,
as I'm now in same position, looking to drop to a 2 or 3 day week, and keen to know the pros and cons of USS Flexible Retirement

@atw_uss
Have you now done this ?  
Any knowledge about this FR option that you can share ?