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    • Dixy
    • By Dixy 26th Jan 17, 2:39 AM
    • 9Posts
    • 6Thanks
    Dixy
    Partial retirement from civil service advice
    • #1
    • 26th Jan 17, 2:39 AM
    Partial retirement from civil service advice 26th Jan 17 at 2:39 AM
    I am 60 in May and considering changing from 5 to 3 days a week from September and taking my pension. I am in the classic scheme.
    Can anyone advise please?
    Will I loose out on my final retirement amount if I work over 3 years before finally retiring?
    Am I able to leave the lump sum until final retirement?
    Thanks in advance.
Page 4
    • GibbsRule No3
    • By GibbsRule No3 12th Mar 17, 9:26 AM
    • 621 Posts
    • 358 Thanks
    GibbsRule No3
    Dixy, while I was not technically still a "Civil Servant", as company was TUPE'd to "a wholly owned subsidiary", for 22 years and was then brought back under BEIS department (but we were still not classed as CS again). I took both my CS pension and the "WOS" final salary pensions last year, dropped to a three day week and started paying into the Stakeholder pension. Best move ever, win, win for me. Love three days a week, so 24 hours rather than 36, pension money and still being paid, slightly more than a State Pension would be, so preparing me for full retirement in 2020 paying less tax but another pension pot is being added to, so if you can still pay into the new CS pension, do it. SP is being added to as well due the the contracted out part of the CS pension.

    I was intrigued by the post about not being allowed to earn more, with the pension added part, than if you were still full time as I am now taking more money home per month, so is this only a "full" Civil Servant thing? Due the the PA going on the pay, I am paying more tax on the two pensions than the take home pay for the working part, so I might need to look at upping the Stakeholder pension per month which after doing it for a year I know I can live on that option, it would make me "really" live on my retirement monthly income.
    Last edited by GibbsRule No3; 12-03-2017 at 9:43 AM.
    Paddle No 21
    • GunJack
    • By GunJack 12th Mar 17, 1:08 PM
    • 9,499 Posts
    • 7,088 Thanks
    GunJack
    I was intrigued by the post about not being allowed to earn more, with the pension added part, than if you were still full time as I am now taking more money home per month, so is this only a "full" Civil Servant thing?
    Originally posted by GibbsRule No3
    might be because you're not paying NI and pension conts. out of the pension in-payment, only on the reduced salary...as they're %ages, these in total would be lower than if they were based on full salary...

    so you may be grossing the same, but takehome more as deductions will be lower
    ......Gettin' There, Wherever There is......
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