Will my pension be reduced?

The normal age for members to start receiving pension benefits (known as 'normal pension age) links to state pension age. This means that you can draw your benefits at the same time as your state pension without incurring a reduction.

Your pension built up before 1 April 2014 has a protected normal pension age (NPA), which for almost all is age 65. View our protected NPA page for more information.

How much will my pension be reduced by?

From November 2018, the pension reduction is no longer gender specific.

How much your benefits are reduced by depends on how early you draw them. The earlier you retire, the greater the reduction:

Years early Pension reduction All members lump sum reduction
1 5.1% 2.3%
2 9.9% 4.6%
3 14.3% 6.9%
4 18.4% 9.1%
5 22.2% 11.2%
6 25.7% 13.3%
7 29.0% 15.3%
8 32.1% 17.3%
9 35.0% 19.2%
10 37.7% 21.1%
11 41.6% N/A
12 44.0% N/A
13 46.3% N/A


If you are a preserved member who wishes to look into the possibility of receiving your pension early (but not before the age of 55) you should contact the Cornwall Pension Fund for further details.

There are some circumstances where preserved members can receive their pension benefits before normal pension age without incurring a reduction.  The 85 year rule explains these circumstances in more detail.

Can I access my details online?

As a member of the Cornwall Pension Fund, you can sign up for My Pension Online. This allows you to securely:

  • access your pension account details
  • calculate pension benefits estimates

To find out more about this member self-service facility and sign up, please visit our My Pension Online section of this website.

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