ill health retirement

[lynneclive]

Hi
Very new to this so please forgive me if it makes no sense,
My husband now only does part time hrs after an accident at work(postie) we won our claim with help from the union.He is now 30% disabled.
He is also type 1 diabetic,asthmatic,blood pressure etc,if he was a horse you would shoot him bless him.
He is off sick at the moment with sciatica all bought on because of the accident and surgery.
Now we know he cannot claim again for the accident, but noises have been made about ill health retirement lump sum?
He is 55 next year,if he took the lump sum,would he still get be able to get his pension at 55,deferred or other ?
thank you

[rehabron]

Hi
Very new to this so please forgive me if it makes no sense,
My husband now only does part time hrs after an accident at work(postie) we won our claim with help from the union.He is now 30% disabled.
He is also type 1 diabetic,asthmatic,blood pressure etc,if he was a horse you would shoot him bless him.
He is off sick at the moment with sciatica all bought on because of the accident and surgery.
Now we know he cannot claim again for the accident, but noises have been made about ill health retirement lump sum?
He is 55 next year,if he took the lump sum,would he still get be able to get his pension at 55,deferred or other ?
thank you

Your husband is certainly have a bad run of ill-health. I assume that your husband was originally on a f/t contract and as a result of his accident at work he returned on a part time contract and the claim that you one would have included compensation for him hving to reduce his hours of work.ATOS would have been involved in this and would have a complete history of his medical condition including his 30% disability. With his latest condition ATOS would be further involved and I assume that he has been given a face to face consultation with them and in their opinion IHR could be a recommendation to RM management due to amount of time off work. His pension can be withdrawn at age 55 and if I am correct will be enhanced by 3 3/4 years at the last agreement. Good luck

[rehabron]

Sorry forgot to add in my posting that as your husband is now on p/t hours this would have an effect on the final amount paid so I hope that this has been well covered in his accident claim.

[lynneclive]

Hi,
Thanks for that but i am still a little confused,i assume that the lump sum ill health amount will come from his pension,then at 55 he will be able to claim his monthly pension.
Or is that completely wrong ,i have read the downloads etc for the pensions and like most us find them extremely confusing,thanks very much for feedback

[rehabron]

Hi,
Thanks for that but i am still a little confused,i assume that the lump sum ill health amount will come from his pension,then at 55 he will be able to claim his monthly pension.
Or is that completely wrong ,i have read the downloads etc for the pensions and like most us find them extremely confusing,thanks very much for feedback

Calculating your husbands ill-health retirement package is a minefield and is dependant on various factors (1) which type of RMPP your husband is paying into eg. Plan A or Plan c (2) reckonable service up to NRA 65 had he not have to retire due to ill-health and on what basis the package is to be calculated on to give the most lucrative payment. Standard ill health retirement is 34 weeks wages pro-rata for p/t employees so it is difficult to assess as your husband has been reducred to p/t hours.
If RM and their Occupation Health Advisors recommend IHR then your husband can be given a figure which should include a lump sum payment and monthly benefits taking immediate effect if RM is agrreeable so if it does come to that your husband will have the complete picture of what is to receive. Trust your husband will have a good negotaitor at the time so the best deal is reached. Hope this helps.

[lynneclive]

Hi,
Thanks for that,hes in C plan and has 24 years at NRA 65, I find it very frustrating that he cant even get a quote from the pension people till 2 months before his 55 birthday,so we would have at least a reasonable idea of what he will get for just retiring early ,which is what i want him to do !
I am just concerned they will try to finish him,and he will loose out on his hard earned pension.
We fought tooth and nail to win his claim for the accident,when the solicitors didn't want to take it on,so if they want a fight they can have one.
I will not allow them to toss him aside like nothing,they crippled him,he ended up with 24 metal staples in his back! now thats something you dont forget.
I will try to do some more homework and investigation,thanks for the feedback any your help and time

[daveyeff]

24 yrs at NRA ? I thought it didnt go up to nra 65 until 2010.,,,,never mind. anyways, i took my pension early at age 50 (5 years ago). at the time i had 16 yrs service and i recieved a lump sum of 17 grand. so its safe to assume he.ll get at least around 20 grand, that is from his pension alone. he will then get a monthly sum from his pension probably around 300 a month. on top of this he will get an ihr sum of 34 weeks pay plus 9 weeks P.I.L.O.N.( payment in lieu of notice). which for full timers is around 15-17 grand. so the way i see it, it will be around about 37 grand or thereabouts. could be wrong, but if i am it wont be by much.

[rehabron]

24 yrs at NRA ? I thought it didnt go up to nra 65 until 2010.,,,,never mind. anyways, i took my pension early at age 50 (5 years ago). at the time i had 16 yrs service and i recieved a lump sum of 17 grand. so its safe to assume he.ll get at least around 20 grand, that is from his pension alone. he will then get a monthly sum from his pension probably around 300 a month. on top of this he will get an ihr sum of 34 weeks pay plus 9 weeks P.I.L.O.N.( payment in lieu of notice). which for full timers is around 15-17 grand. so the way i see it, it will be around about 37 grand or thereabouts. could be wrong, but if i am it wont be by much.

As we are now into 2014 and still employed with the company if not for IHR his work expectacncy and income would have taken him into 65 years of age and therfore NRA 65 would kick in and his IHR package would have to take this into consideration.

[daveyeff]

24 yrs at NRA ? I thought it didnt go up to nra 65 until 2010.,,,,never mind. anyways, i took my pension early at age 50 (5 years ago). at the time i had 16 yrs service and i recieved a lump sum of 17 grand. so its safe to assume he.ll get at least around 20 grand, that is from his pension alone. he will then get a monthly sum from his pension probably around 300 a month. on top of this he will get an ihr sum of 34 weeks pay plus 9 weeks P.I.L.O.N.( payment in lieu of notice). which for full timers is around 15-17 grand. so the way i see it, it will be around about 37 grand or thereabouts. could be wrong, but if i am it wont be by much.

As we are now into 2014 and still employed with the company if not for IHR his work expectacncy and income would have taken him into 65 years of age and therfore NRA 65 would kick in and his IHR package would have to take this into consideration.

yes but he has 24 yrs in,, so 21 of those yrs were paid into the old pension. it went to 65 in 2010 so he will have about 21 yrs nra 60 that he will be able to get when he,s 55. and the other 3 at nra 65

[daveyeff]

also if he's unable to work it would be advisable to stay on the sick until they pay him off,,which is 9 months from date of detriment. he WILL be eligible for it by then but they will try to pay him off before the 9 months if they can get away with it,

[Pinky 1]

If the pension is taken at 55 he's going to take a 25% reduction on it for taking it early.
It is possible to get IHR on a full pension, an atos recommendation, so i would hold fire on applying for an early pension just yet.

[daveyeff]

If the pension is taken at 55 he's going to take a 25% reduction on it for taking it early.
It is possible to get IHR on a full pension, an atos recommendation, so i would hold fire on applying for an early pension just yet.

you dont really lose out though. as i was told off the pensions people. the very fact that you are recieving a monthly sum 5 to10 yrs before its due makes up for the short fall. for example if i had of waited until i was 60, my lump sum would have been around 32 grand. i got 17grand at 50. and been getting around 230 a month for the last 5 yrs. so ive had around 13 and a half grand off them already, by the time i reach 60 it will be more than i would have got on my original lump sum. by about 12 or 13 grand in fact.

[daveyeff]

some people DO want to leave their money until they reach retirement age, and that is entirely their decision, ie, leaving something for the missus or kids etc. or just to keep it for a later date. but there was a bloke at ours left his, for his retirement, and when he finished at work he was retired for 2 months, then was diagnosed with lung cancer, and sadly died 8 months later. he had 42 yr service. my view (and it IS just my view), is take it when you can. you wont lose out.

[Pinky 1]

If the pension is taken at 55 he's going to take a 25% reduction on it for taking it early.
It is possible to get IHR on a full pension, an atos recommendation, so i would hold fire on applying for an early pension just yet.

you dont really lose out though. as i was told off the pensions people. the very fact that you are recieving a monthly sum 5 to10 yrs before its due makes up for the short fall. for example if i had of waited until i was 60, my lump sum would have been around 32 grand. i got 17grand at 50. and been getting around 230 a month for the last 5 yrs. so ive had around 13 and a half grand off them already, by the time i reach 60 it will be more than i would have got on my original lump sum. by about 12 or 13 grand in fact.

The point i was trying to make, is that if he is offered IHR with pension he will get the full pension immediately.
I don't believe he'll get hit with the 25% reduction, which as you know, can be a big difference.

[lynneclive]

Hi
Thanks for all the input he has 22 years nra 60,at full time,2 years at part time nra 60,and 4 years part time nra 65!!!!!(sorry ,i got it wrong)
Dear lord you have to be a soddin Einstein to work it all out.
From what everyone has said ,i can assume he will be better off waiting for them to finish him on IHR ,instead of him just taking his pension early?
I don't think there's much chance of him getting his full ill health retirement up to 65,we were told by a union rep that you have to be practically dead for that ?
But we cant go on much longer like this,it would be easier for him to just take his pension and the hit of 25% loss at 55,he has been prodded, poked etc by many!!! and i think hes just had enough.