Hi, my name is Wallflower!

Wallflower
Wallflower Online Community Member Posts: 1 Listener
in Start here and say hello!

Hi, I am also part of the GMPF scheme. Looking at early retirement on ill health. Tier 1 baffles me.

  • Tier 1 – You are not likely to have the ability to obtain gainful employment before your normal pension age (NPA). You will receive an enhancement of 1/49 of your pensionable pay multiplied by the number of years until your NPA.

So, does the above mean that if I am on £18 per annum, I will, after enhancement, receive roughly 10% of my annual salary until I reach retirement age? My state retirement age is 67. I am 62. Please advise. It doesn't make sense to me.

Thanks

Comments

  • Albus_Scope
    Albus_Scope Posts: 11,423 Scope Online Community Coordinator

    Heya @Wallflower and welcome to the community. 😁

    I'm afraid I've not heard of the GMPF. I've had a quick google, did you mean the Greater Manchester Pension Fund? It looks like you can ask them questions directly on their website, I think they'd definitely been better equipped to answer your questions.

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