Early Riser
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Can I clarify, even if she takes CNER from age 55, she can hold off on drawing down ARF until 60?
I have been diligently reading (again) this very valuable but rather dense thread, and it seems now that the tide of opinion has turned against buying notional service. Is that a reasonable conclusion?
Should I just go with what the brokers seem to be saying and take the AVC route?
I'll actually have only 19 years service at retirement -- this includes buying back temp service of 5 years out of my lump sum. Can I ask how you arrive at the 72/80 calculation so that I can apply it to 19 rather than 24?
And, if my wife decided that she wanted to, say, retire at 60, would putting a lot into AVCs be a better route? In short, is the AVC route more flexible?
Finally, is it true that contributions to NSPs can only begin at next birthday? The reason I ask is because she's 52 this Saturday, so if she didn't begin an NSP by the end of this week, would she have to wait until next November, thereby losing a year?
I can't answer your question about an advisor. But just to note that pre-2004 teachers can take normal retirement (ie, no actuarial reduction) from 55 onwards provided they have at least 35 years service. The 35 years can include credit for pre-service training.I have a question. I have a close relative who is a teacher since 1993. She is 50 now and wants to retire at 55
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