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Changes to percentage reduction factors

Published: Thursday, 10th January 2019

Earley retirement factors

Changes to the early retirement reducton factors from 8 January 2019

IMPORTANT : CHANGES TO EARLY RETIREMENT PERCENTAGE REDUCTION FACTORS

As a result of the Government’s Budget announcement on 29 October 2018 a change to the percentage reduction factors applies to benefits coming into payment prior to Normal Pension Age. The new factors have been introduced from 8 January 2019.

The new factors have been equalised meaning that men and women will receive the same percentage reductions applied to their pensions. The percentages are also more favourable than those in place before 8 January 2019.

To view the early retirement factors please click here. the changes will apply to any early retirement pension coming in to payment from 8 January 2019.