Commutation etc

gdn1947

Upon leaving the RAF after 22 years I commuted a portion of the annual pension into a lump sum which was repaid over the following 15 years. My current employer suggests that my company pension, or the lump sum available, will be reduced by the earlier commutation. I have asked my company to explain but wondered if anyone here would care to comment.
Thanks, gdn

Andy_L

Is this another public sector employer?
They may think you want to transfer years of service in the RAF pension into their scheme in which case, since you've already had some benefits out of the scheme there's less left in your (pseudo) pension pot to transfer into there scheme.
TBH I thought that, if you got the immediate pension payout it couldn't be transfered to a new scheme as it is a pension in payment.

gdn1947

Thanks for your reply. I am a private sector employee. Their statement came out of the blue following enquiries about taking early retirement at age 61. There has been no suggestion of transferring the Service pension into the Company scheme. As we're 20 years down the line its most probably a bit late anyway!

Thanks

gdn

Andy_L

I suspect the're talking toss then and/or are confused.