Civil service final salary pension

luckyme2

I am 51 and made redundant Nov 08. Unsure of the future, i opted for the smaller pension lump sum £18k and larger annual pension £6k, as opposed to the larger lump sum £32k and the annual pension of £4k.

I have been offered a f/t job £24k with another local authority, I can not earn above my final salary of £28.600, without losing £1.4k of my annual pension.

Are there any ideas on what i can do. I have tried negotiating part time hours but that has been refused.

It is a shame to lose my pension after contributing 18 years service.

Do I start another superannuation pension?

Any comments will be appreciated

Luckyme2

DiggerUK

@ luckyme2,
I always knew that pensions could be forfeited if a CS was convicted of murder or manslaughter of another CS, convictions for breaching the 1911 O.S.A., and acts of treason. This is a new one on me.

Payments can, I believe, be reduced if you are re-employed in another CS job under the PCSPS.

I don't want to raise your hopes but if your new employer is local authority it will be a differently administered pension scheme.
I don't think you will have to pay anything back.

Contact the CS pension people or your union.

And yes join the super-an scheme at your new employer.
Please get back on this one with more info, I'm all ears.

Best of luck. Check here.
http://beta.civilservice.gov.uk/search-results.aspx?query=pension+at+51&page=2

Search "pension following redundancy" sorry I forgot.

P.S., your double posted, delete your other thread.

taliesin

I agree with DiggerUK - the OP's account doesn't quite add up.

It's correct to say that, if you retire from the Civil Service (or one of the organisations that operates analogous or "by analogy" pension schemes), your pension is potentially subject to abatement if you subsequently undertake further employment in the Civil Service (or one of those same organisations). But taking a job with a non-CS organisation (and local authorities are not CS) should not give rise to abatement.

I think OP needs to clear up whether his original employer was or was not Civil Service.

If it was, and the new job is in local government, I cannot see how abatement rules can apply. Even if they did, there is room for discretion within the CSPS and it is possible that the income from the new job could be ignored.

On the other hand, if the original employer was another local authority, the OP is dealing with a completely different pension scheme, so the CSPS and its rules are completely irrelevant.

I very much agree with Digger's suggestion that the OP contact his union. I also agree that he should subscribe to the pension/superannuation scheme with his new public sector employer - it's a substantial part of the overall rewards package.