Early retirement

Paul1952

After taking actuarily reduced pension at 56 how long do I have to wait before I get Job seekers allowance? I got out of teaching as it was getting too much for me.

Oldernotwiser

You're not likely to be able to get means tested JSA because of your pension but, if you left teaching at then end of August, I would think that you could've signed on then. However, as you left work voluntarily, I imagine you'd be sanctioned for 13 (?) weeks. I hope someone will correct me if I'm wrong.

PS. It's great to have escaped, isn't it?

healy

Oldernotwiser wrote: »

You're not likely to be able to get means tested JSA because of your pension but, if you left teaching at then end of August, I would think that you could've signed on then. However, as you left work voluntarily, I imagine you'd be sanctioned for 13 (?) weeks. I hope someone will correct me if I'm wrong.

PS. It's great to have escaped, isn't it?

Sanctions can be from 2 weeks to 26 weeks. It will be up to a decision maker to decide if there is a sanction or not.

seven-day-weekend

My husband took Actuarilly Reduced Retirement from teaching at 55 in 2004 for similar reasons to yourself.
He is on Incapacity Benefit and unable to work, so JSA not an issue. We came to live in Spain instead.

As someone has pointed out, your Pension will probably preclude you from getting income-based JSA. You should be eligible for Contributions-based which lasts for six months; however the decision maker will have to decide whether their will be a sanction or not and if so for how long (because you left your job voluntarily).

Enjoy the freedom!

Fash

Hope it's ok to post here. I'm being made redunandant and will receive a redundancy payment of over £30,000 and can take my pension with a lump sum when I leave (both of which will be reduced to take into account the fact I'm 58). I'm definitely going to take it, though I don't intend retiring and will be looking for another job.

Can anyone tell me if I will still be entitled to the job seekers allowance?
Thanks very much

cw18

if you're being made redundant, then you can apply for contributions based JSA (which runs for 26 weeks) as long as you paid enough Class 1 contributions in (I believe) 2005-06 and 2006-07.