Cut and run

ian674 · Post by **ian674** » 05 Sep 2007, 10:24

Iâ€™ve had enough! what with the ever increasing workload the uncertainty with pensions and the promise of EVR that never materialised, so I'm planning on retiring early, two years before my 60th birthday with about 37 years service. What I would like to know is by how much my pension will be reduced. The Pensions Service Centre has been unhelpful with this query, I wondered if anyone out there has taken this route?

Thanks.

Post by **TrueBlueTerrier** » 05 Sep 2007, 13:44

Welcome Ian - we do have someone on here who is very knowledgeable about pensions I am sure he will respond in due course.

Post by **dvbuk55** » 05 Sep 2007, 17:52

ian674 wrote:Iâ€™ve had enough! what with the ever increasing workload the uncertainty with pensions and the promise of VR that never materialised, so I'm planning on retiring early, two years before my 60th birthday with about 37 years service. What I would like to know is by how much my pension will be reduced. The Pensions Service Centre has been unhelpful with this query, I wondered if anyone out there has taken this route?

Thanks.

Sorry can't help you there - but how are you going to be leaving - if you are full time why not go for the buy down of hours - I'm pretty sure they'd snatch your hand off - you only need to do that for 2 years and it won't affect your pension. You could get about 10k - you'd then be 60.

You'd spend less time "at the office" still get a wage - and with a little imagination and a good absence record plenty of "leisure" time to get used to the idea of retirement.

vigilante · Post by **vigilante** » 05 Sep 2007, 18:01

dvbuk55 wrote:
ian674 wrote:Iâ€™ve had enough! what with the ever increasing workload the uncertainty with pensions and the promise of VR that never materialised, so I'm planning on retiring early, two years before my 60th birthday with about 37 years service. What I would like to know is by how much my pension will be reduced. The Pensions Service Centre has been unhelpful with this query, I wondered if anyone out there has taken this route?

Thanks.
Sorry can't help you there - but how are you going to be leaving - if you are full time why not go for the buy down of hours - I'm pretty sure they'd snatch your hand off - you only need to do that for 2 years and it won't affect your pension. You could get about 10k - you'd then be 60.

You'd spend less time "at the office" still get a wage - and with a little imagination and a good absence record plenty of "leisure" time to get used to the idea of retirement.

THIS IS SOUND ADVICE IAN MATE,
I KNOW HOW YOU MUST FEEL ABOUT RM.
THIS HAS BEEN DELT WITH ON HERE BEFORE MATE HAVE A SEARCH

ian674 · Post by **ian674** » 06 Sep 2007, 08:25

Thanks fella's your advice is much appreciated

postiel · Post by **postiel** » 06 Sep 2007, 11:43

i believe u lose 5% for every year you go early
god i wish i was older!!!!!!!!!!!!!!

Post by **dvbuk55** » 06 Sep 2007, 12:24

postiel wrote:i believe u lose 5% for every year you go early
god i wish i was older!!!!!!!!!!!!!!

You wouldn't be saying that if you was.................. when I see these young lasses knocking about I wish I was 30 years ......... NO 40 years younger ............... No make that 50 years younger - I would have just started secondary school and what would these young uns be getting up to by the time I was 16??????

There isn't an emoticon for back scuttling I notice.

Post by **stephen500** » 06 Sep 2007, 14:55

Under evr Rm normally makes up your three years lack of service, so your pension should be a 40 year pension....under current rules that is!
They make up , i think, six years of service but you can only get three to max 40 years.

ROCKY · Post by **ROCKY** » 06 Sep 2007, 16:16

best bet is probably find some nice ailment to keep you under dont give atos origin until your retirement date,back problems,knees etc even stress,we have people who have been coasting under it for so long i cant remember what they look like,otherwise if you are fit,pick the next easy p/t duty that comes along and go for a buy down,remember you could have to live on that pension a long time so dont throw any years away unless you have to

not me · Post by **not me** » 06 Sep 2007, 17:45

yup i would play the system as best you can.keep you head down and get as much time off and light duties as you can while keeping the job

Post by **baldrick** » 06 Sep 2007, 22:15

TrueBlueTerrier wrote:Welcome Ian - we do have someone on here who is very knowledgeable about pensions I am sure he will respond in due course.

Jafferpants is your man for advice on pensions, but he has not been on site for a
few days now, so he may be away.
I'd hang on and see what comes out of the talks - they may give more EVRs.
If you can get EVR you would get a full pension - half your pensionable pay and a lump
sum of three times your annual pension.
My understanding is that if you leave the Post Office without getting EVR (or medical retirement)
before 60 your pension is deferred (frozen) until you reach 60.
But obviously that would mean you would not have any income, unless you get another job.
And you can't claim unemployment benefit or whatever it's called (jobseekers allowance?) for six
months if you leave your job voluntarily.

Post by **POSTMAN** » 06 Sep 2007, 22:45

I've PM'd(JP) him bout the thread.

ian674 · Post by **ian674** » 07 Sep 2007, 15:27

Thanks Postman, hope he can help me on the pension query.

jafferpants · Post by **jafferpants** » 17 Sep 2007, 13:35

hi ya the answer is 5% for each year you go before 60

L Tommo · Post by **L Tommo** » 17 Sep 2007, 14:06

eLLO jAFfEr pANtS HoWs ThE New GLasSEs gOInG??

GOOD TO SEE YA MATE...

OUT

ROYALMAILCHAT

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