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Q re Partnership Pension Scheme re civil service via Legal & General
Suzycoll
Posts: 328 Forumite
Advice please lovely people
I am a current civil servant. I part retired in 2017, claimed my Classic part and reduced my hours to part time. I am currently paying into Alpha on my part time wage.
re the Partnership civil service scheme via Legal & General
Does anyone know if I can
1 take my my alpha amount (built up so far) and put it in the Partnership scheme ?
2 remain working part time for the civil service if I do as above?
3 if it will indeed be worth the hassle (see below note )
NOTE - The rational behind it is I wont have to wait until 67 to access my pension at the full rate. However, I must point out I am now aged 60 and guessing I may not have enough years for the Partnership scheme to build up to anything worthwhile. I realise that it will be a small amount as is also my Alpha pension at the moment . I may be able to pay more into the Partnership scheme.
Thanks in advance. With respect replies in plain English please . Ha !
I am a current civil servant. I part retired in 2017, claimed my Classic part and reduced my hours to part time. I am currently paying into Alpha on my part time wage.
re the Partnership civil service scheme via Legal & General
Does anyone know if I can
1 take my my alpha amount (built up so far) and put it in the Partnership scheme ?
2 remain working part time for the civil service if I do as above?
3 if it will indeed be worth the hassle (see below note )
NOTE - The rational behind it is I wont have to wait until 67 to access my pension at the full rate. However, I must point out I am now aged 60 and guessing I may not have enough years for the Partnership scheme to build up to anything worthwhile. I realise that it will be a small amount as is also my Alpha pension at the moment . I may be able to pay more into the Partnership scheme.
Thanks in advance. With respect replies in plain English please . Ha !
0
Comments
-
You cannot.Suzycoll said:Does anyone know if I can
1 take my my alpha amount (built up so far) and put it in the Partnership scheme ?
Partnership will be far, far, less valuable than alpha for you, don't switch.
Also do not obsess about 'full rate' (assuming you mean unreduced pension at State Pension age by this). Alpha is reduced for early payment and enhanced for late payment, so the Normal Pension age is only a reference point to calculate the benefit entitlement.
3 -
Thank you for the kind reply.hugheskevi said:
You cannot.Suzycoll said:Does anyone know if I can
1 take my my alpha amount (built up so far) and put it in the Partnership scheme ?
Partnership will be far, far, less valuable than alpha for you, don't switch.
Also do not obsess about 'full rate' (assuming you mean unreduced pension at State Pension age by this). Alpha is reduced for early payment and enhanced for late payment, so the Normal Pension age is only a reference point to calculate the benefit entitlement.
What you said are my thoughts exactly ! funnily enough writing it down and asking for advice makes it all the more clearer. Ha ! Regards0
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