IHR

[agassi_2]

Hi there. I had a massive heart attack at work on 2nd Jan this year. I had 2 ambulances and a helicopter attend. I had several cardiac arrests resulting in being defibrulated 11 times in all. I managed to hang in until they got me to Papworth where they saved me. Consequently as a result I've only got 45% function of my heart left. I'm not complaining. By all accounts it's a miracle I survived and have the function I have.i have another scan in the coming weeks to see if it's been reduced further. If it's gone down to 35% I will have to have a device fitted similar to a pacemaker. I'm 57 and have done 33 years service. I have a telephone interview with OH assist doctor next week to discuss IHR. My question is if they offer me IHR what happens to my pension? I really can't see myself working again but it's very early days I know but I have taken stock of life since and don't want to really/may not be able to. Do they offer you different options? Do you lose some of your pension for having to take it early? Thanks in advance

[k979aaa]

Hi there. I had a massive heart attack at work on 2nd Jan this year. I had 2 ambulances and a helicopter attend. I had several cardiac arrests resulting in being defibrulated 11 times in all. I managed to hang in until they got me to Papworth where they saved me. Consequently as a result I've only got 45% function of my heart left. I'm not complaining. By all accounts it's a miracle I survived and have the function I have.i have another scan in the coming weeks to see if it's been reduced further. If it's gone down to 35% I will have to have a device fitted similar to a pacemaker. I'm 57 and have done 33 years service. I have a telephone interview with OH assist doctor next week to discuss IHR. My question is if they offer me IHR what happens to my pension? I really can't see myself working again but it's very early days I know but I have taken stock of life since and don't want to really/may not be able to. Do they offer you different options? Do you lose some of your pension for having to take it early? Thanks in advance

Don't worry about the future IHR does not affect your pension as it stands you could do another job in RM if they offer you one it may mean travel but hay it a job look to the future and all the best.

[RobertT]

IHR will mean 34 weeks pay plus I think another 12 weeks(for your level of service) PILON.

Generally speaking if you take your pension early it will be reduced. But I believe it is possible, depending on circumstances, to have your pension paid without reduction when it's for health reasons. Although exactly what the criteria is, I don't know.

It's alluded to in the plan guide:

Ill Health Retirement

If your employer decides that you are no longer able to work because of a health condition, they may retire you on ill health grounds. In that case, as long as you are not already taking your Age65 benefits, you’ll get the pension and lump sum you’ve built up so far, including the actual value of your Cash Balance benefit (i.e. not reduced to reflect early payment).

[osgoody1970]

5 per cent reduction, every year between 55 and 60, so if you are 57, it. Would be 15 per cent.

[agassi_2]

I know about the reductions 5% a year if you take it early. I know they could offer me another job within the business. I was just wondering if anyone similar to my situation has any experience with being finished on IHR and how it affected their pension. Reading it seems there's 2 options for them to give you

[zipmeister]

I know about the reductions 5% a year if you take it early. I know they could offer me another job within the business. I was just wondering if anyone similar to my situation has any experience with being finished on IHR and how it affected their pension. Reading it seems there's 2 options for them to give you

The first option is the one explained by RobertT and the other option is IHR with benefits I had to deal with a FT postman 58 years old ,30 odd years service who was offered option 1 we appealed that he would never work again so eventually he was offered IHR with benefits and for him this consisted of:
Pension paid up and immediate access
PILON taxable
3 years paid at half pay
after the 3 years he would be medically assessed and if he was in the same state he would receive £29,000 lump sum, partially able to work £17,000 and if recovered enough to work with no problems he would receive no payout
This was over a year ago but I have not heard of any changes.

[TheStrangler]

So are you better off taking your pension before IHR?
Are you saying that if you're medically retired your pension may be changed in some way (positively or negatively)?.

[agassi_2]

I know about the reductions 5% a year if you take it early. I know they could offer me another job within the business. I was just wondering if anyone similar to my situation has any experience with being finished on IHR and how it affected their pension. Reading it seems there's 2 options for them to give you

The first option is the one explained by RobertT and the other option is IHR with benefits I had to deal with a FT postman 58 years old ,30 odd years service who was offered option 1 we appealed that he would never work again so eventually he was offered IHR with benefits and for him this consisted of:
Pension paid up and immediate access
PILON taxable
3 years paid at half pay
after the 3 years he would be medically assessed and if he was in the same state he would receive £29,000 lump sum, partially able to work £17,000 and if recovered enough to work with no problems he would receive no payout
This was over a year ago but I have not heard of any changes.

Many thanks for this info

[agassi_2]

I know about the reductions 5% a year if you take it early. I know they could offer me another job within the business. I was just wondering if anyone similar to my situation has any experience with being finished on IHR and how it affected their pension. Reading it seems there's 2 options for them to give you

The first option is the one explained by RobertT and the other option is IHR with benefits I had to deal with a FT postman 58 years old ,30 odd years service who was offered option 1 we appealed that he would never work again so eventually he was offered IHR with benefits and for him this consisted of:
Pension paid up and immediate access
PILON taxable
3 years paid at half pay
after the 3 years he would be medically assessed and if he was in the same state he would receive £29,000 lump sum, partially able to work £17,000 and if recovered enough to work with no problems he would receive no payout
This was over a year ago but I have not heard of any changes.

Many thanks for this info

In some cases it seems yes, positively. Looks like you have to meet the criteria for their doctor though

[newrepontheblock]

Just sat in with colleague who has been offered IHR. Less than £10k!!!!!!! 30 years service. The offer consisted 4 weeks salary, 6 weeks leave and a notice period.

Surely this is wrong, unless RM has decided to move the goal posts in the last few weeks

[celtic1967]

Just sat in with colleague who has been offered IHR. Less than £10k!!!!!!! 30 years service. The offer consisted 4 weeks salary, 6 weeks leave and a notice period.

Surely this is wrong, unless RM has decided to move the goal posts in the last few weeks

The ihr payment will be pro rata dependant on their hours

[newrepontheblock]

Full time, there was a rumour RM was pulling the plug, then this offer came. Last few people who had IHR with similiar service and contracts had £20K

[celtic1967]

Full time, there was a rumour RM was pulling the plug, then this offer came. Last few people who had IHR with similiar service and contracts had £20K

Thats roughly what i got

[mightyowler]

Full time, there was a rumour RM was pulling the plug, then this offer came. Last few people who had IHR with similiar service and contracts had £20K

Have you questioned it? Spoken to the area rep?

[celtic1967]

Full time, there was a rumour RM was pulling the plug, then this offer came. Last few people who had IHR with similiar service and contracts had £20K

Was that a written offer, or what the manager quoted ?