Alaric wrote:petronius wrote:The USS did give me some actuarial reduction factors a while ago (it took me an hour on the phone to extract this info).
For pensions preserved on leaving service, presumably they apply the factor to the current amount? In other words it's revalued been from leaving to now, but assumes zero revaluation thereafter.
I can partly understand a reluctance to reveal reduction factors, as they should in theory and perhaps in practice change with interest rates and expected future revaluation ( RPI/CPI increases up to retirement).
Yes the reduction is from what you've accumulated so far (not from what you might have achieved by staying a contributing member).
For the 10-year reduction factor you must be sure you are using the correct starting normal pension age for the section of the particular scheme you are in. The factors will be different for reduction from 67 to 57 than from 65 to 55 or 60 to 50.
The tables of reduction factors certainly change periodically - essential to check you are using the latest edition.
I'm slightly surprised they are allowed to use different tables for male and female in this day and age!