Civil service pension modeller

WWD1

Im thinking of early retirement 2026.   Also thinking of giving up a little bit of my pension for slightly higher lump sum.   I know the modeller figures are not 100% accurate.. but does anyone know how close they might be.    Im thinking of basing my decision on what the modeller is showing for age 64 but working further 6 months....so if anything final figures might be a few £s more rather than less....   just wish we could get accurate figure before making that decission

Isthisforreal99

Are you already partially retired? Hopefully you are not one of the many that has legacy CS pension available at 60 that continued to work full time after 60.

If you are still full time the modeller should be pretty accurate.

WWD1

I had thought about partial retirement but never went down that road ..47 years 23 years full time the rest various different part time term time combinations....im just fed up now...just felt next year good enough time to get out..if whats on the modeller is more or less accurate then leaving is achievable... im impacted my mcleod remedy but it looks like option A better for me....rekonable service looks about right....struggling to find all details about all my part time changes but it looks ok.  Im assuming the modeller is based on my individual details and takes account of all the changes ive had...and also restricts the alpha pension bit for me finishing early.     Its difficult to know how realistic the modeller is....I dont know anyone who has been part time and retired to see how info on modeller compared to their final quote.     

ClashCityRocker1

I would NOT assume option A is better than Option B if you are over 60. Alpha was designed to be roughly equal to classic at age 60 after early deductions so as you get past 60 the option of having those 7 years in alpha improve compared to classic.

WWD1

Option B works out better for monthly pension but option A has better lump sum ( which at the moment i would prefer)   anyone know how accurate the modeller figures are v the final offer....im assuming poss not 100% accurate 

Isthisforreal99

Nobody can say how accurate the modeller is for your particular situation. I know people that the modeller is withinn a few £ of the quote, others where it is well out.

It's not that difficult to work it out manually

ClashCityRocker1

WWD1 said:

Option B works out better for monthly pension but option A has better lump sum ( which at the moment i would prefer)   anyone know how accurate the modeller figures are v the final offer....im assuming poss not 100% accurate 

if you adjust the lump sum for option B you'll see the pension is still better.

WWD1

Thanks for that I will have another look.   I know they say the modeller is not 100% accurate....if reckonable service seems ok should it work out to be more or less what the modeller is showing...