Civil Service pension - retiring before or after a birthday

TeessideMag

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? 

hugheskevi

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.

TeessideMag

Thank you, much appreciated.