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Background information:

  • From 1 June 2018 it is proposed to allow retirement (not flexible or redundancy) from 55 (instead of from 60) without your employer's permission.
  • Normal pension age (NPA) for benefits earned up to 31 March 2015 is 65 .
  • NPA for benefits earned after 31 March 2015 is your state pension age .
  • Pension reductions for taking benefits before their NPA are about 5% p.a.
  • Lump sum reductions for taking benefits before their NPA are about 3% p.a.

Note: A technical guide about how the rule of 85 works is at http://www.lgpslibrary.org/assets/gas/scot/85YRv1.2c.pdf