NHS pension & retiring at 53

Of course you can, you're not an indentured servant. You can give the notice specified in your contract and once you've completed your notice you can work for whomever you want however much you want.

Did you have a question about pensions? Your NHS pension will be deferred until normal retirement age. It may be possible to take it early with an actuarial penalty, but as you're planning on continuing to work, there is no reason you'd want to.

futureself wrote: »

I have worked as a Nurse in the NHS for 22 years. I am considering taking early retirement at 53 because of work related stress, work load, conditions, bullying, the list goes on. What I would like to know is can I do this and then find another job elsewhere and how many hours can I work. I don't want to stop work I just want out of the NHS. Thank you in advance for your advice.

If the answer was "no" that would mean you were a slave !! DiId no one else you know in the NHS never leave and take up a different job?

You can become an architect or a zoologist or anything in between and work for as little or as long as you like. You'll get your pension at whatever age its due. As per previous post i sugegst you go and see your union rep, and in the meantime consider taking time out for stress.

Hi futureself,


The first course would be to check your Total Rewards Statement, that will give you total saved so far and current pension amount at retirement. Then as Louloubelle79 said check with NHS Pensions they have a website.


I'd check with HR and Trust Pension Officer if you have an opportunity to retire earlier than scheme rules and a forecast of the reduction in pension size that would cause. Different schemes have different ages for retirement, also within 1995 scheme there are "special classes" who can retire at 55.


You need to find out which scheme you are in, what amount you've accrued and when you can take it or if you need to leave it deferred until there is no penalties.


Another point not mentioned so far is- are you off work with work related stress and if so what have your manager or HR contacted you to plan what needs to be done to enable you to return to work? Or will they support your request for early retirement?


If you are not off ill have you raised your concerns/ fears/ the bullying through line management, trust whistleblowing policy, whistle blowing helpline or sought help through Trust Staff Counselling Service or contacted your Union?


Daunting but a possible route to working on your concerns as no one wants an unhappy workforce and your Trust may have even more guidance/ support ours also has a supportive Chaplaincy Service who although cannot get involved directly can support individuals with time, advise and pointing in the right direction.


I'd caution that although Nurses are in demand it may be that a change of employer may not be the solution as there are different stressors and pressures in every setting/ speciality.



The rules about pension and earnings are that you may not earn more by combining NHS Pension and NHS Salary after retiring than your total finishing wage prior to retirement, eg Band 6 35k pa, retires Pension 16k pa so can earn up to 19k via a new NHS job. The restriction does not apply if new post is with a none NHS employer or via an agency as the person is deemed to not be working directly for the public purse.


I do know of staff who have retired early, but they have either already accrued full pension entitlement through Mental Health Officer (Special Class 1995 scheme) and took an actuarial reduction in both annual pension and lump sum or were retired through ill health without accruing full pension entitlement.

Good Luck


CRV

crv1963 wrote: »

The rules about pension and earnings are that you may not earn more by combining NHS Pension and NHS Salary after retiring than your total finishing wage prior to retirement, eg Band 6 35k pa, retires Pension 16k pa so can earn up to 19k via a new NHS job. The restriction does not apply if new post is with a none NHS employer or via an agency as the person is deemed to not be working directly for the public purse.





CRV

Isn't this only if your early pension is not from voluntary early retirement ie when actuarially reduced eg your got protected rights at 55 and you are re-employed under 60.

I intend to get pension at 59, retire from one of my four jobs, and carry on with the others (subject to reduced hours in the first month - I understand that I there is then no limit to earnings on top of pension

or have I got this wrong? :eek: