IHR and how does it affect your pension rights

[mudmonster]

Hello,just a bit of advice needed on IHR. If I get IHR before I am 50 does this affect my pension from R.fail or will I still get the option of taking my pension at 55
Thanks

[RobertT]

Assuming you're talking about 'IHR with lump sum', your pension will be deferred as if you're leaving normally and will be available from age 55 if you want to take it then.

[mudmonster]

hi thanks for that ,does that mean,I get another lump sum from my pension/separate lump sums ???

[RobertT]

If you're in section A/B of the pension scheme you get a lump sum as standard although you can forgo some or all of it for a bigger pension if you like.
If you're in section C it's the opposite, so you don't get a lump sum as standard but you can commute some of your pension for lump sum if you want.
Leaving with IHR doesn't change your options when the time comes to take your pension.

[mudmonster]

Does your pension continue to you die or does it stop at 65

[RobertT]

Both your NRA60 and NRA65 pensions continue until you die.

[mudmonster]

Thanks for all the info RobertT