McCloud (again)

hugheskevi

m_c_s said:

The new 2024 early payment reduction factor for Alpha taken at 60 for a Normal Pension Age (NPA) of 67 is 0.7. So you will get an extra 1.13% if you take Alpha at 60.

You are quite right - I forgot that the individual documents of actuarial guidance have not yet been updated, but there is a big spreadsheet of updated factors (table 404 is the relevant one in this case).

george_jetson

Thank you. Have to say I’m pleasantly surprised how “fair” the actuarial reduction is for taking Alpha early. Makes the decision far easier…

CorseyEdge

george_jetson said:

westv said:

Don't forget that survivor benefits are worse under Alpha compares to Classic.

Good point but as I've never married I'm looking forward to a refund of my widow's contributions

If you weren't aware I understand that, if taking the option of Classic through the Remedy period, you will also receive a refund of WPS Contributions for that 2015-2022 period too. That can be relevant and/or substantial for some when making a choice.