Civil Service Pension and Retirement Modeller

Dazed_and_C0nfused

DrWillCUNow said:

Well as long as the £220k arrives rather than the £29 I'm not going to complain, but it's not exactly good for working out how much you will have!

Where did £29 come into play 😳

DrWillCUNow

Yes, that would be over-dramatic, £29k 

hugheskevi

DrWillCUNow said:

I've had some very confusing results from the modeller - on my wife's 2024 pension statement she has a lump sum listed as £29,679 but on the modeller it's showing as £220,292. I mean I can accept a few thousand either way for differences in accounting dates, but £29k compared with £220 is just ludicrous!

Your wife is presumably in classic or classic plus, as those are the only schemes with an automatic lump sum.
The ABS shows a standard lump sum (3x classic/classic plus pension and nothing for alpha). The default view on modeller is maximum lump sum for both classic/classic plus and alpha.

Have you changed the lump sum option on the modeller from maximum (25%) to standard (0%)?

ETA: This has been resolved on this thread.

The_Bookman

This was received by my friend this week, 2 months after asking the original question:

The modeller will run a live calculation against your record, and will also show your benefits under both Options A and B if you are affected by the 2015 Remedy. You can adjust the date to see how the value of your pension changes if you retire at a particular point in the future.

If you enter a date before your normal alpha retirement age (currently 66), the modeller will automatically apply the current actuarial reduction factors to the results for the alpha part of your pension.

The modeller has been updated to take into account changes due to the 2015 Remedy (for those members impacted). The new version also uses your latest data, as provided by your employer, to produce a more up-to-date retirement benefit projection.

The modeller provides an illustration of possible retirement figures, which are based on calculations using your live service data in our records.

Unfortunately, we cannot respond to any queries relating to these illustrations. Figures quoted are only an indication of the benefits you may receive, and are not guaranteed.

The expression "chocolate teapot" comes to mind.

Thanks to all for the input.