Sums is this correct

[comeracing]

I want to take my NRA 60 benefits at 55 , my current statement reads £5.985.05 if I x this by 20 come to £119.701, so 25 % of this figure would be my lump sum just under 30k ? If this is correct how could I work out my weekly pension ?

[renrag40]

If you take the nra60 at 55 your pension will be reduced to £4,488. This will be further reduced if you take a lump sum.
Maximum lump sum would be £22,443.
Monthly pension of £280.
Weekly pension of £64.
These a ball park figures.

[renrag40]

To answer your question ....... if you divide the maximum tax free lump sum by 80 will give you your monthly pension. If you then divide the monthly pension figure by 4.333333 you will get your week pension figure.

[comeracing]

If you take the nra60 at 55 your pension will be reduced to £4,488. This will be further reduced if you take a lump sum.
Maximum lump sum would be £22,443.
Monthly pension of £280.
Weekly pension of £64.
These a ball park figures.

Your weekly and monthly figures are they separate would I get both or is the weekly one just added up to approx make the monthly amount thanks

[skodamanpat]

That would be nice, a sum every week and another every month

[comeracing]

That would be nice, a sum every week and another every month

I asked this as a weekly pension of £64 doesn't add up to the monthly amount of £280

[ted_e_bear]

That would be nice, a sum every week and another every month

I asked this as a weekly pension of £64 doesn't add up to the monthly amount of £280

It does
£280 x 12 = £3360 per year
Divided by 52 = £64.61 per week

[skodamanpat]

Wot e sed

[NorthernBoy]

I just put your statement figures into the calculator and it came out with and pension of £5154. I used an age now of 55 and put £0 in all the other boxes.

Assuming 20 x 5154 would mean max lump sum of of £25770.

This would reduce your pension by £1288, if using a conversion rate of 20

Annual pension would then equal £3866 / £322 a month gross.

As always treat the above for guidance only.

[comeracing]

I just put your statement figures into the calculator and it came out with and pension of £5154. I used an age now of 55 and put £0 in all the other boxes.

Assuming 20 x 5154 would mean max lump sum of of £25770.

This would reduce your pension by £1288, if using a conversion rate of 20

Annual pension would then equal £3866 / £322 a month gross.

As always treat the above for guidance only.

Thanks much appreciated