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VERY URGENT -effect of downgrading on pay and pensions
homersimpson_3
Posts: 1,249 Forumite
my friend is 40 in 2 months- single no dependents. joined final salary scheme 7 years ago and has been paying added years for about 1 year. he is very unhappy in work and will probaly apply to be voluntary down graded. he has to face all of this on monday (hence urgency of posting).he likes the place- just hates his role.
presently salary about 14500 - pay dept advise if down grading salary 12100
pensions dept calculating affect on pensions- presently paying just over 100 per month for added years. - this will take weeks which he hasn't got!
is there a calculator to work out how much he will pay for added years after down grading?
is there a caculator so he can work out net pay as he need to re budget?
what benefits can he claim?
what else does he need to consider?
he has little confidence at the moment- what can he do to make up the shortfall in salary- he doesn't have access to car but is happy delivering catalogues/yellow pages from home but not ones where you can collect money e.g avon, betterware etc
thanks
presently salary about 14500 - pay dept advise if down grading salary 12100
pensions dept calculating affect on pensions- presently paying just over 100 per month for added years. - this will take weeks which he hasn't got!
is there a calculator to work out how much he will pay for added years after down grading?
is there a caculator so he can work out net pay as he need to re budget?
what benefits can he claim?
what else does he need to consider?
he has little confidence at the moment- what can he do to make up the shortfall in salary- he doesn't have access to car but is happy delivering catalogues/yellow pages from home but not ones where you can collect money e.g avon, betterware etc
thanks
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