18 days early!

Timetoretire

Hi , Thanks in advance for any help you give. 
LGPS pension,  work in a school.. 
I plan to retire at the end of this school year 31st Aug. Age 62. This is the day before the beginning of the next year. 
I will not be 63 until the middle of Sept.
Do you know if this will make a financial impact me leaving 18 days before my 63rd birthday? I know you lose a % for each year you leave earlier than pension age . The benifit calculator shows only a couple of £ difference,  but wanted to check. 
Thanks for reading , and I hope it makes sense.  
I really do not want to start a new year, for a couple of weeks!! 
Thanks again 

Silvertabby

The early retirement factors are listed as the yearly rate, but the actual calculation is done to the day.  So, leaving 18 days early will mean that your pension will be actuarily  reduced for these 18 days, not a full year rate.  

Timetoretire

Thank you so much @ silvertabby. I was hoping this was the case. 

pterri

Timetoretire said:

Hi , Thanks in advance for any help you give. 
LGPS pension,  work in a school.. 
I plan to retire at the end of this school year 31st Aug. Age 62. This is the day before the beginning of the next year. 
I will not be 63 until the middle of Sept.
Do you know if this will make a financial impact me leaving 18 days before my 63rd birthday? I know you lose a % for each year you leave earlier than pension age . The benifit calculator shows only a couple of £ difference,  but wanted to check. 
Thanks for reading , and I hope it makes sense.  
I really do not want to start a new year, for a couple of weeks!! 
Thanks again 

I was going to go at the end of July aged 57, I’m so done with work that I’m going end of may (beginning of April actually with accrued leave etc). That one more week, month, year is very tempting

Timetoretire

@pterri , good luck with your retirement.  I can't wait!  Not handed in my notice yet. I am waiting for my pension Information first.