Deferred pension lump sum question

biscuit1_2

Ooops sorry, i have signed in on my laptop not realising my phone details are different so I am Andrewsmith2261 .... sorry 

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they have come back at £4944 annum or £3660 with £15,000 lump sum,

You give up  £1284 per annum of pension to "buy" the  tax free pension commencement lump sum of £15000.

That is to say, each £1 foregone buys  a little under £12 of lump sum.

That is not a generous commutation rate.

Is Normal Scheme Pension Age  65?

What is the actuarial reduction for early payment?

Now to look at the scheme.

I asked whether this was a Public Service Scheme (Civil Service/ TPS/NHS etc).

If a "food  company" it is possibly a scheme sponsored by a Public Limited Company ( example Associated British Foods) which is not 

the same thing.

https://www.barnett-waddingham.co.uk/comment-insight/blog/revaluation-for-early-leavers/

When you left the scheme, were you given a statement of deferred benefits showing pre 88 GMP/post 88 GMP/excess?

Do you know how the GMP revalues in deferment? 

Is a high proportion of this pension pre 88 GMP?

What is the situation concerning pension increases in payment?

https://forums.moneysavingexpert.com/discussion/6503073/defined-benefit-pre-1997-pension-increases/p1

And even if the  food company scheme provides increases in payment on pension accrued pre 1997, remember that it does not 

have to pay any increase on pre 88 GMP or anything above 3% on post 88 GMP.

Do you have a copy of the Scheme Guide?

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And have you obtained a state pension forecast?

https://www.gov.uk/check-state-pension