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Civil Service pension - retiring before or after a birthday
TeessideMag
Posts: 6 Forumite
I know the pension will be reduced if you retire early but does it make much difference whether your retire before or after a birthday? The modeller asks you to input the age you plan to retire and the figures differ accordingly. But I presume in reality retiring the day before (for example) your 58th birthday versus retiring the day after your 58th birthday would lead to almost identical pension values?
0
Comments
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It makes either no difference or a marginal difference.
The actuarial reduction changes for each month of early retirement, so there is a marginal gain in timing that perfectly.1 -
Thank you, much appreciated.0
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