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Retiring early on an Actuarilly Reduced Pension

Discussion in 'Retirement' started by Footyfan1, Aug 24, 2011.

  1. I had had time out to have children as well and I still got my pension early without any problems. Something is wrong here.
     
  2. I am already over 60 - does ARB not apply to me ie. i get what pension i have accrued to date with no reductions? in service since 1989

    thanks
     
  3. ARB is only applied if you retire before your 'Normal Pension Age' which in your case should be 60.
     
  4. thanks!
    thats good news
    i might go christmas now and not wait for end of summer
     
  5. Presumably, if you are over 60, then you have opted out of the Pension Scheme? Can you still contribute to it if you are over 60 and getmore added years?
     
  6. voodoo child

    voodoo child New commenter

    I've taken ARP and am now working again and paying into a second pension for teaching. I gather that I have to have one year's service (so if part time that will take longer to accrue) before a pension is payable, though you do get an annuity if not.
     
  7. Given the employers contribution it would seem sensible to go for the second pension even if you dont intend to clock up the extra year. Far too many returning teachers seem to opt out and miss out on the extra pension / annuity.
     

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