Redundancy and pension question

peggy1986

Hi all

I just wanted to say thank you in advance for any help you may be able to give me with regards to pension options when made redundant at 55.

Can anyone shed any light on "unreduced pensions"?

Is anyone aware of any rules around beingmade redundant at 55 and the employer being obligated to "top up" the employee's pension pot to what they should have got at retirement age? (Again this is something that may not exist!).

A friend mentioned something to me along those lines but I'm struggling to find any answers.

Again, I would be eternally grateful for any advice.

Thank you

getmore4less

don't think there is a requirement to do that allthough something similar seems to be available with a lot of employers especialy public sector

lakes17

It definitely exists in the Public Sector but not sure about private sector. If your employer makes you redundant and you're 55 or over then it is classed as redundancy/early retirement (R/VER) and your employer is obliged to release your full pension as well as paying redundancy pay. If on the other hand you choose to retire early (from 60+) then a reduction in monthly payments would apply - usually 25% less each month.