Help with pensions

bigadaj

sheilavw wrote: »

It seems it is. He had one about 10 or 11 years ago. I think sometimes it's better to slow down. Hopefully a part time job will come along soon seeing as his employer won't reduce his working week even with the GP recommendation. He would take the 2 nights and let someone have 3, they wont even advertise

Has he had a recent occupational health assessment, he should ask for one if not, his employer should be undertaking one in any case for their own information.

Does he have a union or could he speak to company hr, always good to record things.

sheilavw

hi thanks he does pay to a transport union, he set this up himself. I dont think they have occupational health, never had assesment. Managing director asked him to go in for a meeting when he handed sick notemin to say returnin 6th jan, said couldnt do the part time his G.P recommending as no one to do other half of his job

atush

Get his union involved. they should provide free legal help.

it could be constructive dismissal if they force him to quit over health issues? They should allow him to go part time, after all, they'd have to hire someone to replace him, so no more trouble to hire someone part time to share?

sheilavw

Thanks, I agree not very accomodating. He has worked there 13 years. He originally asked last summer. They said would advertise but they may struggle to get someone fridays. (it is 5 nights mon to fri) he said he would do wed thurs fri. He also said that when whoever they got was on holiday (they only get minimum 20 plus bank holidays) we would work all week on them weeks. They havent advertised. I think someone semi retired would welcome just a couple of days

atush

If they havent advertised, and he asked months/a year ago, they are in dodgy territory.

Get him to contact his union for help immediately.

sheilavw

Thanks, I will. Hope they can help

sheilavw

Just received another forecast. Despite making 7 monthly payments since the last one (£112 gross a month) the pension is worth over £100 less. He is still currently off work and seeing a specialist next week for knee. Bloods for psa level and diabetes came back clear. He is still hoping to go back once knee sorted, but part time. Think it is now time to take the pension, dont want it going down further

bigadaj

sheilavw wrote: »

Just received another forecast. Despite making 7 monthly payments since the last one (£112 gross a month) the pension is worth over £100 less. He is still currently off work and seeing a specialist next week for knee. Bloods for psa level and diabetes came back clear. He is still hoping to go back once knee sorted, but part time. Think it is now time to take the pension, dont want it going down further

Not a comment on whether it is appropriate to take the pension now or not, but stock markets have been falling recently, which is probably why the pension has reduced over the last few months. It may continue to go down or rise but it's possible that current levels may be near the bottom for the near future.

atush

Exactly, stock markets have fallen. So really not the best time to take it, or move it to cash (which you could have done months ago?)

What did his union have to say? Is the employer going to allow him to work part time (you said they said no?).

jamesd

sheilavw wrote: »

Just received another forecast. Despite making 7 monthly payments since the last one (£112 gross a month) the pension is worth over £100 less.

No problem, that's just because stock markets are down a bit at the moment.

sheilavw wrote: »

Think it is now time to take the pension, dont want it going down further

It's perhaps worth knowing that last couple of times it took less than a year for recovery to happen. It's just the routine ups and downs that happen.

Not sure what you mean buy taking the pension, though. Did you mean doing something like buying an annuity to provide regular income or something that can pay more like using income drawdown to just take money from the pension, leaving it invested?

Unless there's an immediate need for money it's probably going to make you better off to leave it invested for a while longer. If there is an immediate need, just taking what is needed would be likely to beat taking any more than that.