Can you retire early, take pension but defer lump sum?

[TheJackal]

I saw a video relating to UK public service DB pensions and there it seems you can retire early, draw down the pension with actuarial reduction, but defer the lump sum until normal retirement age.

Can you do that in Ireland? Or vice versa, take the lump sum early with actuarial reduction, and leave the pension normal retirement age to avoid actuarial reduction?

 

[niceoneted]

That might be in relation to a cost neutral early retirement scheme in the public service?

 

[gipimann]

My own experience of Cost Neutral early retirement (civil service) was that this wasn't an option - it was all or nothing (take lump sum and pension or leave all until pension age).

The only time I ever heard of being able to park part of one's pension entitlement was during the years when Incentivised early retirement was offered during 2009/2010 - staff were offered their pension based on service (no actuarial reduction) plus 10% of their lump sum, the remainder of the lump sum to be paid at age 60.