ILL Health Retirement Calculations

[noseyme]

Hi

Can anyone give me the formula for calculating Ill Health Retirement.

Ta

[stokes11eg]

quickest way is to log on to the union site to get a breakdown. but remember every case is slightly different
and many factors have to be taken into account. but you should get a general idea.
good Luck.

[General Mannerheim]

They have recently changed them, basically you have to be at deaths door to merit ill health with immediate pension.

They are more likely to offer people ill health with lump sum payment...this is 34 weeks plus any leave entitlement that you might have owing plus 9 weeks notice which gives you a mininium of 43 weeks pay upto a max of 52 weeks pay.

It`s easy to see why RM prefer paying out the lum sum option.

[noseyme]

Hi Again All,

Thanks for your replies.

Is the whole lot taxed ?

Ta

[stokes11eg]

No. it,s not taxed, and if you are paid off through I'H'R. you will get payment for your collegue shares.

[noseyme]

Hi Again,

Does this mean that the 9 weeks pay in lue of notice and not used holidays wont be taxed ??????

Ta

[stokes11eg]

Yes if you get the minimum payment you should get about 13 000(not including pension payment which varies)
you wouls also get your collegue share pay out. But remember, there are two tiers of payment, depending on wether you can, or cannot resume some kind of work.