Two USS paths, cannot decide

NTFI19081

I am in USS and 56, essentially I have a choice.

1. Stay until 60, 3 days per week, and get USS pension of 31k + x3 TFLS at 60. Will have IB/DC's of 500k. 

2. Go now and take 24k USS + x3 TFLS. Will have 500k IB/DC at 60, if I leave invested.

All todays money.

The extra USS under path 1 is essentially due to staying and not triggering ERFs for the tranches that are not reduced if I retire with employer permission at 60.

I know this stuff inside out and have accounted for all the details. Can't decide though. If I go, I guess I could draw DC earlier if I take path 2. But more likely to work a little to supplement pension.

Essentially I am torn between the extra USS at 60 and the 'freedom' now. Any thoughts to clear the fog helpful!

DRS1

So if you take path 2 but cannot find any other work what will you do with yourself?  Have you prepared for "doing nothing" in retirement.  Do you have plans for your day?  Or do you need the next 4 years working 3 days a week to prepare you for whatever comes next?

And a basic question is £24k enough to live on?  Is £31k enough to live on?

NTFI19081

DRS1 said:

So if you take path 2 but cannot find any other work what will you do with yourself?  Have you prepared for "doing nothing" in retirement.  Do you have plans for your day?  Or do you need the next 4 years working 3 days a week to prepare you for whatever comes next?

And a basic question is £24k enough to live on?  Is £31k enough to live on?

I have plenty to do !  Too many plans. The main issue is the USS I am giving up, not the ability to fund lifestyle until 60 - as I have some PT work. The dc will draw from 60 at 4% as well. Full state pension. As I say the only issue I cannot decide on is whether to hang on for the extra USS DB pension. I suppose its a question of when I would 'break even' by waiting v going now