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Whether to apply for IHR etc

12 Feb 2020, 12:19

Hi guys,
I'm recovering from a major spinal operation, and was suddenly approached by delivery management this week, asking whether I want to consider applying for IHR, as apparently "some funds have been found/released", which were not previously available. That seems odd, as I would have thought that an IHR discussion could happen at any given time, according to individual circumstances.
I didn't realise that if you do apply, you can't do it purely as an exercise to determine what would be offered, but you instead have to go through the Occupational Health referral process of obtaining detailed medical and specialists reports, and OH (Atos as was) decide whether it's a lump sum or a pension. If a pension, I understand that's nothing apparently to do with your own pension scheme. I told the manager it's something I would at least explore, but obviously it seems I can't do that, as it would commit me with no going back. I believe there's a formula of something like 34 weeks tax free pay plus 13 weeks basic taxable and any remaining holiday for the lump sum decision, or the pension decision providing about 75% basic pay for 3 years.
I'm 60 this year in DBCBS C and Bonus plan CSP with 20 years service. I am currently exploring my financial circumstances, and have just booked a pension advice appointment with "Pension Wise" government advice service.
Could anyone kindly offer (obviously no implication) advice, comment, or confirm any accurate or rectify any incorrect assumptions I have made, and perhaps say what you'd probably do if you were me? I should add that reluctantly continuing in a very difficult delivery environment for another five years has been my aim.
Finally, I have assumed that VR is pretty much a non starter now and in the near future, and that transfers out of delivery, say into mail centres or hubs are rare.
Thanks in anticipation.

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