CSP Premium Scheme, payment date and abatement

indiasign

Hi everyone, wondering if you can check my thinking here.

I’m currently a Civil Servant in the Alpha scheme, but before that was employed by a NDGB, which became an Executive Agency of the MOJ.

The NDGB had it’s own DB pension, which became deferred on transfer to the Exec Agency and pays out at age 60, (or can be taken from 55 with actuarial reductions.) 

I’m 58 and, like a lot of people on here, the last 2 years have made me rethink some of my options, and I have been considering taking that pension a year early (the reductions are minimal) and dropping my hours, to just work 4 days a week. As it is not a Civil Service Pension, it’s not impacted by abatement rules, so I can reduce my hours but still come out with more money - so far so good.

But on transfer to the EA, I was allowed 3 years in the Premium scheme before moving into Alpha and, as I understand it, Premium also pays out at 60

And because this one IS a CSP, abatement would kick in this time.

So I assume that if I take the Premium pension, I’d need to look at reducing my hours again, say down to 3 days per week?