Does the current value of my benefits include reductions for taking them early?

Question:
Does the current value of my benefits include reductions for taking them early?
Answer:

Reductions aren't included in the current value of your benefits. If you take your pension benefits before your normal pension age (other than through redundancy or business efficiency or ill-health grounds), your pension and any lump-sum is usually reduced.

You can see the reductions on our website or use the on-line calculator on the 'my pension' system.