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  1. #1

    Classic CS pension inverse commutation rate

    Hi - does anyone know what factor is used by the civil service classic scheme for calculating inverse commutation?

    I believe I have a preserved pension of 4,350 pa with a lump sum of 13,050. If I were to ask for that lump sum to be converted to pension, how much would my annual pension be please?

    I am 56 next birthday and plan on taking actuarial bought out early retirement three-months after that birthday.

    Thanks in advance.

  2. #2
    For a person aged 56.25 inversely commuting 13,050 the increase in pension would be between 595 and 646, depending on survivor pension and gender. That is a factor between 20 and 22. I'm not sure if there are any limits to the amount you can commute.

  3. #3
    Thank you very much for that information.

    I don't quite understand this comment though -

  4. #4
    ISTR that the rate isn't fixed but varies based on the current view of longevity, (nominal) investment returns etc & you need to get in touch for a quote

    Edit: or perhaps not then

  5. #5
    Noodling - I have a classic civil service pension deferred from when I left in 1995. Apart from the Pension Statement I request now and again I have never had any Pension information.
    I was assuming I could get this Pension from age 60.
    I am potentially thinking of retiring at 57 and thought I would live off savings until then.
    Just curious as to what are the advantages of actuarial bought out early retirement Forgive my ignorance.


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