Can one retire early as a Partner say around 55 instead of 60? How will it impact pension benefits?

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Depends on the firm and how their pension is structured

At EY you are eligible for full benefits at 58, mandatory retirement unless you get a waiver at 60. Before 58 yes would affect benefits but less so today with the more 401k-based benefits than 10 years ago.

Some firms want you out way before then! I think McK for example forces you out at 55. Select people stay until 60 but I think you lose the comp protection for Senior Directors from 55-60.

McKinsey has a heavily tenured driven comp process that provides Directors (most senior partners) some excellent comp. But once you are 55, I believe you are out of that part of the equation.

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What are the benefits? I get that there is a pension, how does it work? Based on years of service? Revenue generated during service?

I did it. All pensions are different but you will get less $ if you leave early. You can do the math based on the plan particulars and determine if the incremental $ are worth those years of your life. You have to determine how much is enough and be deliberate about what you want to do with the remainder of your life. At some point the incremental value of your assets (and pension) are more than you will need.

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