Getting your pension early
You can retire and take your pension at any time from 55. However, your benefits are worked out on using the scheme pension age so we will reduce the pension because of early payment.
Leaving nuvos before scheme pension age (65)
If you leave before scheme pension age, your nuvos pension benefits may be affected, depending on your circumstances. The following booklets give information on what happens when you resign:
- Leaving nuvos before pension age with less than 2 years service*
- Leaving before scheme pension age with 2 or more years’ service*
- nuvos pension scheme booklet*
- nuvos ill health retirement* a guide to the benefits available tells you about the provision for ill health retirement Redundancy
If you are made redundant you employer will pay you compensation under the Civil Service Compensation Scheme for loss of employment. Your pension options will be the same as if you had resigned.
Re-employment
You need to be aware that if you take your pension, whether through one of the early retirement options or through ill health retirement, your pension may be reduced if you are later re-employed by the same employer or by another employer who participates in the Civil Service pension arrangements. The leaflet What is abatement?* tells you more.
You should also be aware that if you leave with benefits under the Civil Service Compensation Scheme and are re-employed by a Civil Service Pensions employer you may have to repay some or all of your compensation benefits
*Booklets and leaflets are also available from your pensions administrator – see under Pensions helpline for contact details.