New NHS Pension
I understand that in 2009/10 existing members of the NHS Pension Scheme (NHSPS) will have the opportunity to join the new NHSPS which has a normal retirement age of 65. One advantage of the new NHSPS would be a pension based on 1.87 per cent of my career average revalued earnings (CARE), rather than 1.4 per cent under the old scheme.
So far I have had no notification from NHS Pensions about this option. If it is still going ahead, what is the actuarial reduction that would apply to members joining the new scheme and taking early retirement at, say, age 60?