Early retirement deduction rate in defined benefit scheme

G

guest

Guest
Hi all,

Member of defined benefit scheme in prominent Irish PLC.

Just informed the rate of clawback for early retirement is 6% for every year under the age of 65.

So if you retire at 50, you lose 90% of your pension, 55 you lose 60% etc.

The clawback is mentioned mid sentence in the pension booklet and no rate was given, this info has only come to light and people are shocked.

Q. Is this clawback the norm?
Q. Is the rate in the norm?

Tks
 
Re: Early retirement deduction rate in defined benefit schem

Hi guest,
Your question has been posted here:
ajapale
 
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