|
7 Feb
8:24am, 7 Feb 2025
28,665 posts
|
TROSaracen
My lot gave you an extra £30k if you left early - within 6 weeks, this meant you were off the headcount before year end and they could report to the City ‘success’ in reaching staff reduction targets.
The terms of the redundancy meant it was the default option and your manager had to make a case as to why you couldn’t go if they wanted to stop you (provided you met the base qualifying criteria to apply for voluntary).
My manager wanted me to work a further 6 months, but felt the case wasn’t strong enough to be an ‘exception’. But managed to get agreement that I’d still get the early leaver £30k if I worked the extra notice, so I agreed.
|
|
7 Feb
8:58am, 7 Feb 2025
26,706 posts
|
geordiegirl
That’s a good result TRO
Mr gg has gone to drop off his laptop and sign out. Very exciting day.
|
|
7 Feb
9:15am, 7 Feb 2025
27,973 posts
|
Bazoaxe
They can’t stop you retiring post 55 gg but they can class you as a bad leaver which might mean some perks like shares are lost and so make it a harder choice
My lot treat retirement as a good leaver and you get these shares without tax and ni forfeit as if you had held for the full period required. If I resigned I would lose some shares and pay tax and ni on others.
I have a three year scheme that matures November and I am wondering if I let that mature just in case. I wasn’t bothered before but share price is on the up so want to ensure they don’t somehow treat me as a bad leaver.
|
|
7 Feb
9:18am, 7 Feb 2025
26,708 posts
|
geordiegirl
My friend said yesterday you need to go as a good leaver a bad leaver as you explain. I did know this but I was thinking of options if they refuse.
For my role I’m confident they won’t refuse.
I could do with finding out what my DB pension looks like I got a transfer out value recently and it was atrocious I am now worried that what I was expecting is based on normal retirement age not as it stands now. In which case I’ve stayed here all these years because I had ‘the best pension’ and it wasn’t the case. Which could impact my escaping.
|
|
7 Feb
9:24am, 7 Feb 2025
6,123 posts
|
Shades
GG - your IFA will advise but generally DB pensions are better left where they are as they will provide a guaranteed income, inflation protection etc.
|
|
7 Feb
9:32am, 7 Feb 2025
26,709 posts
|
geordiegirl
That’s the theory unless I don’t live long enough to realise it & it dies with me, in our own pot if I pop my clogs Mr gg at least has the finances to enjoy what time he has left.
Also we’d rather front load the spending by travelling now and living less expensively later rather than get to 80 with shed loads of money we can’t enjoy & spend.
My IFA is and will continue to advise when I get figures but getting the figures is not as easy until I give my notice of intent. It’s a balancing act at the moment
|
|
7 Feb
9:41am, 7 Feb 2025
6,124 posts
|
Shades
It can take months to get a response from whoever is managing the DB pension. Despite waiting until I was 60 and able to claim my DB pension it took 3 months to get any details out of them and that was only due to finding a contact who held an senior role within the company that was able to pull some weight for me.
|
|
7 Feb
9:44am, 7 Feb 2025
26,710 posts
|
geordiegirl
We had a pension briefing in August it sounded so easy to get your info it really isn’t.
|
|
7 Feb
9:48am, 7 Feb 2025
6,126 posts
|
Shades
It really depends on the company managing the pensions. Once I finally got paid, my name was wrong, they had that I was male and no NI number. They were incompetent, company was Mercer.
Sadly the company that I'd worked for then went into liquidation but the benefit to me was I no longer had to deal with Mercer. Pension now handled by PPF and really efficient.
|
|
7 Feb
9:53am, 7 Feb 2025
26,711 posts
|
geordiegirl
Funny that so is mine! I’ve heard so many similar issues from colleagues who’ve left.
|
McGoohan 
Any pension experts out there?
Oct 2024