Redundancy,PILON and works pension.

gorjam

Hello there I am looking for some information on a worrying and difficult problem.It looks as if I am to be made redundant at the end of June 3 months short of my 55th birthday.I have worked for my current employer for almost 35years and will probably be given 6months notice at the end of June this will almost certainly be paid in lieu of notice(PILON) but I am not 55 until October. What are my chances of getting my works pension at 55? Thanks in advance for any help and sorry for the clumsy question.

Sycorax

It depends if you're on a public sector, final salary type pension. In which case there's a good chance you will be able to claim your occupational pension at 55.

If it's a different type of plan it's down to the trustees and even if they agree there could be an actuarial reduction.

I suggest you root out your pension info (you should have been getting an annual statement) and contact the administrators of the scheme. They will tell you your options.