u/Wrong_Clock_4880

NHS pension, 25yrs in. In both 1995 and 2015 schemes

I’m planning to stop working early (10yrs before state pension age, in about 10yrs time)

Is anyone able to tell me what happens if I stop working (and therefore stop paying into my pension) but don’t take my pension for a year or two?

When I finally take my pension, does it pay out with the actuarial reduction for the age I stopped paying IN to my pension, or would it pay out with the actuarial reduction for the age I actually take the pension?

(My instinct is the former, but pensions can be weird so I thought I’d ask)

Obviously, if there’s no difference in the pension payout, I’d take it when I stop working, rather than thinking of saving for a bridge and delaying taking the pension

Many thanks for any information