retire at 56

parkman

hi I have asked and been refused early retirement at 56, I come under the 85 year rule ,my total is 92 I cannot get ill heath retirement ,I had 4 way heart by pass in may 2008 and have been suffering from stress lateley in my work ,hence the reason for asking for early retirement. can I be refused early retirement and does the 85 year rule help me . I work for a county council thanks

jamesd

I suggest that you edit your post then click on the advanced button and adjust the title to include "Refused early retirement at 56, county council, 85 year rule, health trouble". This should attract the attention of people who know more about those rules.

bilbo51

Look here for Ill health retirement:

http://www.lgps.org.uk/lge/core/page.do?pageId=102182

The rule of 85 gives some protection from any actuarial reduction in your pension should you take it early. How much depends on your age...

See:

http://www.lgps.org.uk/lge/core/page.do?pageId=100801

littlelad

Yes you can be refused early retirement before 60 unless they want you to go. It costs the employer a lot to let you go before then so it can be difficult to get them to agree. It's only when you reach 60 that you don't need your employer's permission but, at 60, you would still be retiring early as NRA is 65 - presume you're in LGPS.

You can only take advantage of rule of 85 at the age of 60 no matter how many years in excess you have of 85 before then. The protection it affords applies to actuarial reductions between 60 and the NRA of 65. There is also the cut off date in April 2016 to consider but if you miss this (by reaching 60 after this date) you will be well within the tapering given you are 56 now. You are in a good position if you can just hang on.:)

hyubh

parkman wrote: »

does the 85 year rule help me

It helps you in that actuarial reductions will be reduced/removed if you went of your own accord at 60, but doesn't help you in that it makes making you redundant at 56 (and so triggering an automatic early retirement) more expensive for the employer. (Being refused an ill health retirement is another matter however.)

Thrugelmir

Is stress grounds for early retirement?

I rarely get a week without stress.

bigadaj

Thrugelmir wrote: »

Is stress grounds for early retirement?

I rarely get a week without stress.

Certainly is in the public sector.

hyubh

bigadaj wrote: »

Certainly is in the public sector

Care to elaborate? The requirements for an LGPS ill health retirement, on any of the three tiers, are pretty clear (and for that matter, apply with regard to any LGPS employer, public, private or third sector). Moreover, the OP has already said they haven't been deemed met in their own case.

bilbo51

Thrugelmir wrote: »

Is stress grounds for early retirement?

I rarely get a week without stress.

I keep trying to plan in my nervous breakdown but I'm just too busy...

bilbo51

littlelad wrote: »

You can only take advantage of rule of 85 at the age of 60 no matter how many years in excess you have of 85 before then.

Not strictly correct.

See the link I posted earlier: http://www.lgps.org.uk/lge/core/page.do?pageId=100801

quotememiserable

bigadaj wrote: »

Certainly is in the public sector.

Certainly is not in any sector. Ill health retirement is only available where the person can demonstrate their condition prevents them from working and is permanent. You can't demonstrate stress as permanent.