guaranteed minimum pension
One of my pensions has an element of gmp what does this mean and how will it affect my pension and my lump sum if I take it early (age55)
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879MikeGG1 postedIf this GMP is still part of the original Final Salary scheme, then it would seriously reduce your ability to take pension/lump sum at 55. Ask the scheme administrators for a quote.
If it was transferred out to another Final Salary scheme then again ask for a quote.
If it was transferred to a S.32 Buy-out policy then you are very unlikely to get much more than your GMP from M65/F60.
Mike
Posted on 16 December 2012 |
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