C
cavanman.
Guest
Hi, first-time poster, long-time user of website, just want to say thank you to everyone for an absolutely brilliant site, for the people, by the people.
My mum is a nurse (employed pre-1995) presently aged 53. She "hopes" to retire at age 60, at which stage she will have 34 years of service.
Having only discovered the actual existence of NSP our question is this; If she purchases, for example, one year of service, now based on the premise of retiring at age 60, and then doesn't retire until age 65 what is the result? (I'm guessing maybe that she gets the year of service in the same way, but it will have cost her more than if she had chosen to buy based on the premise of retiring at age 65, and the difference in these payments would be lost?).
On this basis she might be best to choose a retirement age of 65? (and thereby incurring the actuarial reduction if she did retire before 65, but protecting her from the above loss?)
Also the chances of completing a first-time lump-sum NSP by November 13 would be slim to none?? If so, on this basis she might be best to do an AVC for this year??
Any response greatly appreciated.
My mum is a nurse (employed pre-1995) presently aged 53. She "hopes" to retire at age 60, at which stage she will have 34 years of service.
Having only discovered the actual existence of NSP our question is this; If she purchases, for example, one year of service, now based on the premise of retiring at age 60, and then doesn't retire until age 65 what is the result? (I'm guessing maybe that she gets the year of service in the same way, but it will have cost her more than if she had chosen to buy based on the premise of retiring at age 65, and the difference in these payments would be lost?).
On this basis she might be best to choose a retirement age of 65? (and thereby incurring the actuarial reduction if she did retire before 65, but protecting her from the above loss?)
Also the chances of completing a first-time lump-sum NSP by November 13 would be slim to none?? If so, on this basis she might be best to do an AVC for this year??
Any response greatly appreciated.