Pension schemes


T

Tahiri

Now that women who planned to retire at 60 are having to retire
at 66 what happens to their employers pension schemes? Can a
woman still get that income from 60 or are they all varying? For
the sake of argument assume we are not thinking of their current
employer, but a previous one.
 
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D

David Woolley

Tahiri said:
Now that women who planned to retire at 60 are having to retire
at 66 what happens to their employers pension schemes? Can a
woman still get that income from 60 or are they all varying? For
the sake of argument assume we are not thinking of their current
employer, but a previous one.
You are confusing state pension ages with retirement dates. Contract
clauses about retirement dates are now void.

The details of when a company pension can be taken will be in the
relevant contract.
 
T

Tahiri

"David Woolley" wrote
You are confusing state pension ages with retirement dates. Contract
clauses about retirement dates are now void.

The details of when a company pension can be taken will be in the relevant
contract.
I see, I think. So the age is not critical, but to get an income from the
earlier employer you need to 'retire' i.e. stop working for the current
employer. Sorry if it was a silly question.
 
D

David Woolley

Tahiri said:
I see, I think. So the age is not critical, but to get an income from the
earlier employer you need to 'retire' i.e. stop working for the current
employer. Sorry if it was a silly question.
I suppose some people may have such a contract, but I would be surprised
if it were common, as it seems to give an unfair advantage to the
scheme, assuming it is defined benefit and there is no increase for
taking the pension later.

You will need to look at the documents to be sure.
 
R

Roger Mills

"David Woolley" wrote

I see, I think. So the age is not critical, but to get an income from the
earlier employer you need to 'retire' i.e. stop working for the current
employer. Sorry if it was a silly question.
No. There shouldn't be a problem of getting a pension from an earlier
employer if you have reached the qualifying age, even if you are still
working for a later employer.

I received a pension and a salary at the same time some years ago before
I actually retired. In my case they were for essentially the same job,
but the part of the company I was working for was taken over by another
company - so my pension provider and (then) current employer were two
different legal entities.

I have a feeling that there are circumstances now under which you can
receive a pension *and* a salary from the *same* legal entity.
--
Cheers,
Roger
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T

Tahiri

I suppose some people may have such a contract, but I would be surprised
if it were common, as it seems to give an unfair advantage to the scheme,
assuming it is defined benefit and there is no increase for taking the
pension later.

You will need to look at the documents to be sure.
Thank you David and Roger. I remember a woman, then fairly recently retired,
whose ex-employer was seriously short-staffed. She would have gone back
for a bit but couldn't because it would affect her pension. Presumably this
was
because the employer and pension provider were the same. Although that
was the civil service so the rules may be different.
 
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C

Cliff Frisby

Roger said:
No. There shouldn't be a problem of getting a pension from an earlier
employer if you have reached the qualifying age, even if you are still
working for a later employer.

I received a pension and a salary at the same time some years ago before
I actually retired. In my case they were for essentially the same job,
but the part of the company I was working for was taken over by another
company - so my pension provider and (then) current employer were two
different legal entities.

I have a feeling that there are circumstances now under which you can
receive a pension *and* a salary from the *same* legal entity.
Well, yes, an example that comes to mind is teachers in the state sector.
The scheme's 'retirement' age has recently been raised, but accrued
benefits will be honoured (as they should be), so any teacher working
through to retirement age having been a pension scheme member prior to that
retirement age having been raised, would AIUI spend some time in receipt of
a teachers' scheme pension and a teacher's salary.

There may be well be a lot of other public sector and private schemes that
have taken the same route.
 
R

Roger Mills

Thank you David and Roger. I remember a woman, then fairly recently retired,
whose ex-employer was seriously short-staffed. She would have gone back
for a bit but couldn't because it would affect her pension. Presumably this
was
because the employer and pension provider were the same. Although that
was the civil service so the rules may be different.
The usual way round that would be to sign up with an agency which
provides temporary staff to the relevant department. That way, she
wouldn't be officially "employed" by the civil service, but would still
be working for them.
--
Cheers,
Roger
____________
Please reply to Newsgroup. Whilst email address is valid, it is seldom
checked.
 
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J

JohnW

I have a feeling that there are circumstances now under which you can
receive a pension *and* a salary from the *same* legal entity.
Cheers,

Roger
Yes, you can now "retire" , receive your pension and tax free lump sum and continue to work seamlessly.

John
 

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