Civil service pension

really?

hugheskevi said:

kassy64 said:

The lump sum is tax free and can be invested, I would need to live beyond approx 15+ years before the additional pension would be better and by then i will be getting the state pension and hopefully wont need much money, whereas having it now has effectively allowed me to retire 2 years early.
Would be interested to hear what is classed as a good commutation rate, and what route you have taken in similar situation.

Life expectancy for Civil Service males aged 60 is 27.3 years and for females 29 years.

The Pension Protection Fund sets commutation factors to be actuarially fair, and currently pays 31.59 commutation rate at age 60. 

I'd say a commutation rate of 20 or maybe slightly above would be reasonable, and 25 or higher good.

Personally I save into a DC pension in addition to DB pension to smooth income between minimum pension age and State Pension age and so not require a lump sum from DB scheme.

edit: deleted post (re: public sector commutation vs the quoted communication factors in assessing a new job role +dc pension with a go co)

Just realised I posted a similar query when I took my public sector job and this same person replied back then- I think I've got the answer I need. 
c.12x commutation from Civil service 
vs much higher commutation rates if it was outside the civil service. So in reality the valuation of the pension is somewhere between the 2. Say x16-18 the annual pension.