The benefit illustrations no longer give an estimated pension at nra 60 and 65. The last time they did that was the 2016 illustration. They have moved over to what you have earned in pension up to the March of that particular year. Now that we no longer accrue into either pension (other that the interim scheme that is mainly to fund the lump sum of the 2010 to 2018 pension, which is particularly useful for people in section C) you could try and estimate it yourself using the RPI September figures. However the further that you are away from retirement the less accurate you would be. The average September RPI figure for the last 10 years. The average for which has been 2.7%. Bearing in mind that pensionable pay has been rising by RPI since 2014.
So, using a mythical of someone who is 55 and was born on 31st of March and started working for RM on 1st of April 1984. They had pensionable pay of 25k.
Pensionable pay x RPI to the power 5 = pensionable pay at 60..... 25000 x 1.1425 = 28562
Estimated pensionable pay at 60 x accrued years until 2008 /yearly accrual rate( 1/80 section B, 1/60 section C)........
28652 x 24/80 = 8595 per year pension and 25785 lump sum.
Add to this the 2 years accrued from 2008-10...... say 500.
500 x 1.027(to the power 14).......... 500 x 1.452 = 726 per year pension and 2178 lump sum.
So for the nra 60 add the 2 sets of figures together..... 8595 + 726 = 9321 per year pension and 27963.
To find the maximum tax free lump sum..... (yearly pension x industry standard multiplier) + lump sum + AVC if any.
(9321 x 20) + 27963 = 214383..... divide by 4 = 53595
To find the reduced pension..... remaining pension pot divided by 20..... 160787/20 = 8039
So 8039 per year pension with a maximum tax free lump sum of 53595 assuming pensionable pay rose at an average of 2.7% for the next 5 years.
Nra 65 is harder to work out as the cash balance fund is not expected to be in place much beyond September 2020. So if you assumed the cash balance fund lasted for 2.5 years and had 12250 in it ( 25000 x 0.196 x 2.5) and grew at RPI for 9 years. 12250 x 1.027(to the power of 9)= 15569.
Csds pension blocks from 2010 to 2018. In 2019 would be 2500 pension plus 7500 lump sum so multiplying by RPI until 2029 would be...... 2500 x 1.027( to the power of 10) = 3263 with a lump sum of 9789. To get the maximum lump sum ....
(3263 x 20) + 9789 = 75049/4 =18762 of which 15569 is funded by the cash balance fund which means to find the revised pension you add the 15569 to the remaining 56286 then divide the total by 20 = 71855/20 = 3592.
So you have an NRA 60 of 8039 pension and a lump sum of 53595 lump sum.
NRA 65 of 3592 pension and a lump sum of 18762.
Plus the proposed CDC fund from September 2020 with an NRA of 67.
All guess work.