Pension Underpin

Chattygirl1234

Only just found out there is such a thing!  I was definitely in my local authority pension scheme is 2012 (some info seems to also say 2014) but do all the other criteria need to apply to be eligible e.g. I'd have to have been within 10 years of retirement on that date (which I wasn't?).  Also, when I get my various pension projections showing how much I'd get in terms of maximum lump sum or annual pension, would that automatically include any underpin?  I'm just trying to establish if this is something I'm a) entitled to and b) can gauge how much difference this might make to my pension.
Any help greatly appreciated!

Silvertabby

To be eligible for the underpin you would have had to have been within 10 years of retirement (not early retirement) as at April 2014.

Those who qualified had 2 calculations done at retirement - one a combo of the old FS pension and the new CARE, or just the old FS rules.  They then received the higher of the two.

You will be too young to qualify - but be assured that unless you received a VERY substantial increase in the past few years then it may well be that the much higher accrual rate of CARE will give you a better result.