PPF - early retirement
Jona
Member
This is possible right? Normal early retirement factor method for deriving the reduced pension.
No other specific considerations.....?
Ta
Jona
Member
Comments
Hi Jona
Here is a response from our Pensions Technical Specialist at Aegon, Martin Haggart:
Yes it is possible to take early retirement benefits under the PPF, excerpt below from PPF "When you retire" member guide:
Early retirement: You may be able to receive your compensation earlier than your normal pension age. You have to be 55 years old or over to do this – unless you have a right to take your pension earlier under the rules of your former pension scheme (known as ‘protected’ pension age). However please be aware this could never be below age 50. If you want to receive your compensation early, you should contact us for an early retirement illustration. Because you would be receiving your payments early, the amount you would receive will be lower than what you would’ve received at your normal pension age
Best wishes
Theresa
Thanks @Theresa_Dixon