Early And Late Retirement

Many schemes specify different retirement ages for men and women. It is still legal for schemes to do so, although it is not now lawful for an employer to specify different retirement ages for men and women.

Most schemes allow early retirement, though you will get reduced benefits as you will be drawing a pension for longer. Schemes also allow you to defer your retirement.

Schemes that are contracted out of the SERPS must revalue your pension by 7/8% a year for each year you delay. Other schemes will have different arrangements.

More on Early or Late Retirement at http://www.ssa.gov/oact/quickcalc/early_late.html

Please remember this website is for informational purposes only and does not constitute professional financial advice.

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