USS benefits calculator help

[cashmerecardigans]

Hi, I’m looking at possibly taking a VR package but am struggling with the pension aspect. For reference I’m nearly 60.
If I use the benefits calculator I can see what my pension will be at age 60.
So, two questions - is the figure I am seeing the amount I would get if I started drawing my pension at that age, or are there additional early retirement factors?
Secondly (and I feel this should be obvious, but it isn’t to me) is what happens if I leave and no longer pay in but don’t actually draw my pension until I’m, say, 65? Do I still just get what it shows at the age I stop contributing? Or is it different, as I haven’t started drawing it, so it is paying out for a shorter time.
Apologies, I feel this is should be simple but I can’t find an answer on the website, so any advice much appreciated.

I would post this on the MSE pensions forum as there are lots of USS people there. I think the brief answer to your question is that different phases of the scheme have different normal pensionable ages and so the early retirement factors vary accoring to when the pension was built up. If you have a lot in the old final salary scheme then my recollection (but check) is that you can take that without reduction IF you are still working at 60 and your employer agrees. If you leave before 60 you lose this possibility. I wouldn't rely on the benefits calclulator for more than a rough check. Get a proper quotation.

See, for example, this thread and the contributions from 'Morgan Green' who seems to be in a fairly similar situation: https://forums.moneysavingexpert.com/discussion/6287299/uss-general-discussion/p30

On the calculator you can add some changes such as leaving (no longer paying in) from a certain date and see how that affects the outcomes. I think it is on step 2 of the calculator, there are about 5 variables you can make to see how it changes things. Have a play around as the option is on there.

thanks so much @Mia85I’ll definitely have a look at MSE. And @stanspani hadn’t realised you could change that, I’ll have a go.

If you contact USS and explain they will provide figures for you too. They turn it around quite quickly.