Am a little unsure as to how to calculate the pension supplement I am likely to get if I retire at 60 taking all benefits at that time. The pension line could not give me this 'rough number' over the phone
The 'nutshell' statement lists 3 pension supplement numbers in my particular case:
NRA60 Estimated Benefits p2 Pension Supplement = £585
NRA 65 Estimated Benefits p2 Pension Supplement = £745
And on p4 it lists the total pension supplement (up to 31st March 2016) = £938.
Am I correct to assume there is no reduction in the NRA60 pension supplement if SRA = 60 in my case?
OK I realise that these numbers will change slightly upwards between now and when I retire (60 in April 2018 - just after the current scheme ends/is changed) but for the sake of simplicity just assume these numbers remain the same.
I saw Robert's 5% off for each year for pension supplement benefits taken early in another thread.
So am I correct in the following calculation using my numbers:
Total Pension Supplement Due if taken @ 60 (NRA60 + NRA65) = £585 + 75% of (938-585) = 585 + (353 x 0.75) = 585 + 264.75 = £849.75 assuming no additional CSDB pension supplement blocks added between the 2016 March 31st illustration and April 2018 (when I intend to retire at 60)
And am I correct to assume this is payable until state pension kicks in (when I am 66)?