MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.

20th August 2017
:: Scheme Member | Drawing My Benefits | Early Payment

Early Payment
 
When would you like to retire?
 
A common immediate response is ‘tomorrow’. In reality, many people don’t want to retire early, and few of us could actually achieve a comfortable income by taking our pension benefit before it is due – unless of course we have successfully planned to do so. Early payment penalties, personal finances, health, the impact upon social security benefits, interest and annuity rates are some of the areas which can affect this planning and make early payment difficult to achieve.
 
We look at the issues related to scheme benefits to help you in that planning.
 
We explore typical questions such as:
  • Can I retire early?
  • Penalties, Discount Rates & Reduction Factors
  • Why waiting a short while could improve your pension
  • Pension increases once your pension commences
  • Pension Protection Fund issues  
To find out more, choose one of our free Factsheets on the right to match your category of membership.
 
 
Not sure which category of member you are? See our definitions:
 
 
 
 
 
See our Glossary for definitions of phrases in our Factsheets
       
 
 
 
 
 
  Defined Benefit scheme members
 
Early Payment - for Active Members of Defined Benefit Schemes
Early Payment - for Preserved Members of Defined Benefit Schemes
Early Payment - for Pensioner Members of Defined Benefit Schemes
       
 
  Money Purchase scheme members
 
This Factsheet is not yet available for Money Purchase members.
This Factsheet is not yet available for Money Purchase members.
 
     

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