I am a deferred member of the Teachers' Pension Scheme and am trying to work out if I would do better to claim my pension early, (I will be 60 in Oct. 2012), or wait and let it happen at 60. my state pension age is 62 years 7 months. I have 18 years 257 days of pensionable service with a PI factor of 1.2302. My average salary was £23,610. This was accrued as full time salary & latterly part-time salary. I am now working half-time in a University, but will need every penny I can scrape together in retirement. Can anyone advise me how the cuts would affect me if introduced and whether I should take my pension now or wait ?