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early retirement - which option
jlambo
Posts: 5 Forumite
Hi
due to retire from council early and have been given an estimate of early retirement benefits which happy with, in addition, can choose either Compensatory Added Years or Discretionary Compensation Payment (think they are classing it as redundancy).
Is the decision based on which one of these I take down to tax?
No mortgage to pay!
Help!!! The added years would only be £400 per year added to pension so not a huge amount.....
due to retire from council early and have been given an estimate of early retirement benefits which happy with, in addition, can choose either Compensatory Added Years or Discretionary Compensation Payment (think they are classing it as redundancy).
Is the decision based on which one of these I take down to tax?
No mortgage to pay!
Help!!! The added years would only be £400 per year added to pension so not a huge amount.....
0
Comments
-
First of all, if you are actually being made reduendant, I think you can claim JSA for 26 weeks but I would ask on the benefits forum.
And added years sounds good to me as any DB scheme is a good one and more years is very benefical long term.0
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