Would any of you leave at 53 without getting your pension?

[stroller]

Toby Tyke,

That's a shame there are only 3 EVR's in your office, how long have you done in the Post Office?

[trythat]

I'm in a simular position, but I started thinking about retiring when I was 55 some years ago, so we started to save hard, intending to go at 54 or 55, have enough saved to take us to 60, and hopefully lump sum and pension at 60 will take us to our career average pension. We're so near, yet so far, just need a problem with stock and shares ISA, and we'll have to work past 55 any way

I don't have any body problems (yet), but just don't like work any more.

[Toby Tyke]

Toby Tyke,

That's a shame there are only 3 EVR's in your office, how long have you done in the Post Office?

17 years. C40 people in front of me on seniority.

[bluealbert]

I'm 55 this year done nearly 27 yrs how much pension and how much would I get if I went out on ihr or evr ?? Sorry I ain't got a clue

[Cyclopz]

Never say never.

[Dee Plish]

Everybody's circumstances are different and that is the most crucial factor in working all this out.
I went at 54 with full 104 weeks VR and no pension. Paid off mortgage and can manage a low cost lifestyle and still thoroughly enjoy a very early retirement and (hopefully!) not have to draw on pension until I'm 60. If I get stuck, i'll find some work somewhere. Don't forget if you go now under VR. you will get the opportunity to cash in your shares, tax free, as a "good leaver". With the way things were going when I left last year, I couldn't see any improvement to our working lives, only more grief and nonsense.
Also, our current VR terms are only guaranteed until May this year - then they may well be up for renegotiation with who knows what consequences. And also don't forget when the 5 year protection of your daily T's & C's runs out, what will happen then?
Got out sooner than I would have liked but the loss of a few non-essential lifestyle choices and the joy of waking up knowing every day is a holiday is worth it. Leaving comes highly recommended!

[Fatboyslim]

Thank you. This is my point exactly.

You cut your cloth accordingly. Don't get me wrong T&C's at RM are good compared to other employers. I've heard it mentioned (again) six weeks leave, pension etc. Going to work for A N Other company might not attract these generous benefits. BUT, and this is a very big BUT. Your six weeks leave, pension etc will not be any use in your 60's if you cannot hardly walk without a walking aid.

I have seen this job deteriorate considerably over the past few years. Make no bones about it - it will get worse. I cannot imaging how a human body can be expected to walk 10-15 miles a day five days a week for 40+ years - without paying a very heavy price. So, your six weeks leave and pension are not much use then are they? Hard talking - but not far from the truth. Can anyone on here see staff walking for 10-15 miles a day when they are 68? I can't.

Not so good after all is it?

[OnAFlyer]

Go now if you can. In your situation I certainly would. It's not that I don't like working for RM, but in years to come retiring at 53 is going to be something that just doesn't happen.

We've got people in our office who are nearly 65, one over that, are getting 30+ years of final salary pension, the career average pension, still work full time and won't take VR even though it's been offered to them. Pure greed, money can't buy you years of your life back.

[supertramp]

just to clarify something ,i rang pensions they told me you lose 50% of your nra 60 pot if you draw at 55 ,25 %out of your nra 65 pot,ring pensions yourself to get the proper facts, they will only send you a forecast 3/4 months before you are 55

[TrueBlueTerrier]

just to clarify something ,i rang pensions they told me you lose 50% of your nra 60 pot if you draw at 55 ,25 %out of your nra 65 pot,ring pensions yourself to get the proper facts, they will only send you a forecast 3/4 months before you are 55

I think you have transposed the percentages there.

[supertramp]

just repeating what pensions told me

[RobertT]

just repeating what pensions told me

You either mis-heard or they got their figures wrong as you will take a 5% per year reduction if you take any of you pension early. So taking both elements at 55 will see a 25% reduction on your NRA60 figure and a 50% reduction on your NRA65 amount. Unless you are over 55 and taking EVR in which case your pension may well be enhanced.

[TrueBlueTerrier]

just repeating what pensions told me

Then I would double check the usual is 50% at 55 for NRA 65 and 25% for NRA 60 - basically 5% per year for both.

[stroller]

RobertT

How much is your pension enhanced when your over 55 taken with EVR?

A lot of shrewd people in my office waited until they hit 55 before going because there pension was enhanced but I thought that was gone now?

[RobertT]

As far as I know it still comes under the MTSF agreement in 2010, but I’m happy to be corrected if I’m wrong. Details can be found via the link in this thread:

http://www.royalmailchat.co.uk/communit ... 36&t=33667" onclick="window.open(this.href);return false;

Bare in mind that EVR or Early Voluntary Retirement can only be taken if you’re 55 or over and is sometimes mixed up with VR(Voluntary Redundancy) which can be taken at any age in theory.