CIVIL SERVICE PENSION PORTAL Question

SOLOMAN

After 50 years of service in RN (24 years) and Civil Service (26 years), will be taking full retirement from Civil Service on April 06 2026. I am already in receipt of Classic Pension, which I received in March 2020 when I turned 60. 

In 2020 I reverted to partial retirement, working 3 days initially and then dropping to 2 working days in 2022. 

I am not effected by the McCloud judgement given that I am in partial retirement and have already taken my classic pension. (Option A and B benefits in the portal are identical).

My benefit statement indicates the following:

Your alpha benefits

Your alpha normal pension age 66 Years 0 Months

Your annual alpha pension £2,128

Your classic benefits

Your classic normal pension age 60 Years 0 Months

Your classic standard lump sum £2,279

Your annual classic pension £759

The CS Portal (for age 66) calculates that if I opt to take no lump sum by annual pension (for the partial retirement portion of my service) it will be £3465. 

My question is: Understanding that this £3465 is a combination of Classic/Alpha - will I still receive the Classic lump sum of £2279? (as I was assuming that the lump sum calculator on the portal refers to Alpha pension 2022-2026). 

Appreciate any comments and thankyou. 

ClashCityRocker1

I don't think the calculator works properly after partial retirement.

If you took partial retirement in 2020 you might be affected by Mcloud as the period 2015-2020 could be taken in either classic or alpha but I suspect at 60 classic might be the "better" choice anyway. 

yes the standard lump sum will be as stated more or less on ABS (3 x classic) - Classic pension ill be the unused service x best 12 months final salary (FTE) divided by 80

The alpha pension you'll earn between ABS and now will be what you have earned by 2.32% adjusted by CPI (and reduced a bit if taking before state pension age)

SOLOMAN

Many thanks for the reply. Incidently, I will be retiring about 10 days after State  Pension age (66). As I read it then:

-The Classic calculation (regarding the lump sum) detailed on the ABS is NOT effected by adjusting the Lump Sum on the retirement modeler itself. Presumably this applies to Alpha only? For example: Adjusting the lump Sum to zero on the modeler, means I will receive no lump sum in Alpha, but will receive the Classic Lump Sum (or have I got that wrong?)

Thanks again. 

ClashCityRocker1

SOLOMAN said:

Many thanks for the reply. Incidently, I will be retiring about 10 days after State  Pension age (66). As I read it then:

-The Classic calculation (regarding the lump sum) detailed on the ABS is NOT effected by adjusting the Lump Sum on the retirement modeler itself. Presumably this applies to Alpha only? For example: Adjusting the lump Sum to zero on the modeler, means I will receive no lump sum in Alpha, but will receive the Classic Lump Sum (or have I got that wrong?)

Thanks again. 

That's what it should do, but I wouldn't trust it if I were you. You can work out for yourself pretty close to what it should be.

SOLOMAN

Appreciate the reply, many thanks.