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# Welcome to the MSE Forums

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• FIRST POST
• Bravepants
• 11th Apr 18, 4:48 PM
• 565Posts
• 745Thanks
Bravepants
Hello,

I wonder if anyone here is paying Added Pension in the Alpha scheme?

I think the 2018 calculator provided on the MyCSP site is incorrect.

Compared to last year's calculator my monthly payment seems to get me double the Added Pension!

Would it please be possible for someone to double check this?

I have emailed MyCSP about the issue.
Page 2
• Tayloriw1
• 10th Aug 18, 7:58 AM
• 18 Posts
• 0 Thanks
Tayloriw1
If I retire at say 56 how much reduction would my Alpha pension be ?
As classic says 5% per year but Alpha just says a reduction
• hugheskevi
• 10th Aug 18, 8:20 AM
• 2,117 Posts
• 2,693 Thanks
hugheskevi
If I retire at say 56 how much reduction would my Alpha pension be ?
As classic says 5% per year but Alpha just says a reduction
You can use the retirement modeller or the buy-out calculator to see.
• Bravepants
• 10th Aug 18, 9:13 AM
• 565 Posts
• 745 Thanks
Bravepants
Also, there is an Excel calculator available on the MyCSP site:

"alpha-early-retirement-and-age-addition factors..." I got it in December 2017 and was valid from APril 2018.

There is a worksheet tab for each normal retirement age.

So in my case it would be 67 NRA, the table then presents a reduction factor for age (including months!) before NRA.

For example, here is a list of reduction factors for your planned retirement age of 56 for each NRA:

NRA = 68, reduction at 56 = 0.537
NRA = 67, reduction at 56 = 0.568
NRA = 66, reduction at 56 = 0.601
NRA = 65, reduction at 56 = 0.635
NRA = 60, reduction at 56 = 0.825

So if your NRA is 68, and you retire at 56 you will get 0.537 times the amount due at 68.

Check the site for an up-to-date calculator though.

Cheers,
P
• marlot
• By marlot 10th Aug 18, 9:41 AM
• 3,778 Posts
• 2,892 Thanks
marlot
Originally posted by hugheskevi
I hadn't seen the retirement modeller on there previously. It even does Nuvos and Alpha. Very useful - thanks
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