NHS pension & retiring at 53

crv1963

futureself wrote: »

Hello, thanks to everyone for all your helpful info.
Firstly I'm in the 1995 scheme and stayed with it. I've read that you can retire at 50 if needed but obviously the pension is greatly reduced. I would probably get about £400 a month roughly if taking now. The main problem is work. There are many issues going on at work at the moment and the ward has been put into 'special measures', even though there has been no official documentation about this. I have got the RCN involved about patient care and a drug error which I owned up to. However, I have been successful in obtaining another job in a private hospital but the NHS have dragged their heels in supplying references. My last manager has given me a good reference but my current manager has not yet sent off my reference and has now informed me that it would include the 'special measures' aspect which I think is unfair. I just want out now because the place has become toxic. So on the advice of the new employer I've handed my notice in but I've yet to receive a start date. Now I'm in limbo! Hence thinking about the retirement bit. (Sorry if its a bit confusing)

Firstly- Special Measures cannot be attributed to an individual on a Ward! So that is a threat not a provable fact, if it was the Disciplinary Process would be used. Special Measures are for systematic failures attributable mostly to management failings- refer to Mid Staffs failings etc, raise this with the Lead Nurse for your area in the first instance then the Director of Nursing, then the Chief Exec, discuss with HR the slow response for references!


Secondly- seek union support if you feel bullied into leaving it's a big issue internally even if you go!


If there is no official documentation then it is not a fact, NHS mantra if it's not recorded then it didn't happen, Chief Exec's have to issue publically their 5 most important "causes for concern" and Teams "most needing support" so you can argue if there is no recording that your current manager is bullying you!

PeacefulWaters

Ultimately, a decision to take pension now alongside another job is probably a poor one financially.

Yes, the new job might be a drop in income. But leaving the pension untouched now would ensure you don't get absolutely hammered for an actuarial reduction.

Additionally, you'd pay tax on all the pension income, in addition to tax on income from your new employment (assuming you're earning over £11,500).

Changing employer might be good for you. But ideally you'd leave the pension untouched for now. It'll be worth more later.

highet

couple of points
if in 95 scheme can retire any time after 50 -you do not need your employers ''permission'' but hand in notice as normal - pension agency need about three months notice of when you wish to start taking your nhs pension to process the paperwork
abatement was abolished apart from a very few special cases (retiring early on ill health grounds) a few years ago
actuarial reduction for taking pension before normal retirement age is not a penalty - it is purely a calculation to allow for the fact that (assuming you survive to average life expectancy) you are getting pension paid for longer
remember once you start claiming your pension its money in the bank - delay taking it and you will get a higher pension ultimately but if anything happens to you (god forbid) you wont get anything