TPS Scheme, How to claim with minimal actuarial reduction.

IAMIAM

Career Average with 3 Year Buyout. Want to claim age 60, so only 5 years actuarial reduction. 

APB - I buy £250 every year, current pot is around £2k, anticipate it to be around 5-7.5k at age 60 as I will buy the maximum I can. I cannot have 3 year buy out on this, so if I was to claim at 60, would be reduced by 8 years worth of value. Is there any way around this?

Can I split my pensions up and claim at different times? Does phased retirement help?

Marcon

IAMIAM said:

Career Average with 3 Year Buyout. Want to claim age 60, so only 5 years actuarial reduction. 

APB - I buy £250 every year, current pot is around £2k, anticipate it to be around 5-7.5k at age 60 as I will buy the maximum I can. I cannot have 3 year buy out on this, so if I was to claim at 60, would be reduced by 8 years worth of value. Is there any way around this?

Can I split my pensions up and claim at different times? Does phased retirement help?

Have you seen this - and if not, perhaps it would be helpful viewing: https://www.youtube.com/watch?v=laH9eWCbHcU