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Cashing in small pension pots while still wanting to contribute
It tells me that if I live to my mid-80 - which is, of course, not a given - then I'm best taking it at 63 with a full lump sum. After that, the 'returns' start to dimish when considered over time.
What is the NPA for that one?
If it's 60 what happens to the 3 years of payments you are choosing not to take?
It's not 60. Are there really pensions with an NPA of 60? Still? For this one it is currently 66, but may well be 67 by the time I get there.
NHS 1995, old Teachers pension and civil service Classic all have a NPA of 60.
It tells me that if I live to my mid-80 - which is, of course, not a given - then I'm best taking it at 63 with a full lump sum. After that, the 'returns' start to dimish when considered over time.
What is the NPA for that one?
If it's 60 what happens to the 3 years of payments you are choosing not to take?
It's not 60. Are there really pensions with an NPA of 60? Still? For this one it is currently 66, but may well be 67 by the time I get there.
I have pensions with NPA of 60, 65 and 67. The reason for the original question about what happens if you don’t take yours at NPA is that with a few older DB pensions there’s no benefit in deferring i.e. they pay out the same amount at 63 as they would have at 60, so you would have given up three years’ pension payments. Others continue to accrue.
Fashion on the Ration 2024 - 43/66 coupons used, carry forward 23 2025 - 60.5/89
