How to cope with work in run to retirement

zagubov

Reading some of these posts I've got to ask, what on earth were your union officials advising you?
Were they giving no support at all? Or if you've no union, a professional organisation?
Decisions about leaving pensionable work before retirement are a very big deal. This being a moneysaving site, we would all want you to take a step back, and talk to people in the know.

Your bosses may very well want you to make a snap decision to quit, but they may have very different goals from you.

You need to protect your interests and this can't be rushed.

jamesperrett

zagubov wrote: »

Reading some of these posts I've got to ask, what on earth were your union officials advising you?
Were they giving no support at all? Or if you've no union, a professional organisation?
Decisions about leaving pensionable work before retirement are a very big deal. This being a moneysaving site, we would all want you to take a step back, and talk to people in the know.

I can't speak for anyone else but in my case the changes that rankled with me weren't something that the union could do anything about - they were just badly handled by management in comparison to the way previous changes had been handled.

I made my decision to retire or leave long before I told anyone about it but, in the end, I just couldn't handle staying on as long as I had hoped and took early retirement about nine months earlier than I had originally planned - which was a good move as it turns out I wouldn't have been entitled to as big a pension as I thought I was if I had waited.

I did raise a few queries with the union but in the end the pension administrators were able to supply all the answers I needed. The only thing I wish I had known about earlier was that I could have contributed to a private pension to avoid higher rate tax and also that I could have stopped making pensions contributions and become a deferred member of the pension scheme while still continuing to work.

I've now been retired for just over a year (although I do a little self-employed work) and I've felt so much more relaxed and sleep much better these days.

MallyGirl

zagubov wrote: »

Reading some of these posts I've got to ask, what on earth were your union officials advising you?
Were they giving no support at all? Or if you've no union, a professional organisation?
Decisions about leaving pensionable work before retirement are a very big deal. This being a moneysaving site, we would all want you to take a step back, and talk to people in the know.

Your bosses may very well want you to make a snap decision to quit, but they may have very different goals from you.

You need to protect your interests and this can't be rushed.

I have never been a member of a union and my brief membership of the British Computer Society added nothing of that ilk to my life. IT doesn't really have a lot of that sort of setup as so many have learned on the job.

bugslet

JoeEngland wrote: »

Ironically, now the point at which I can semi-retire and maybe do a bit of PT work is much nearer I'm feeling more frustrated with going to work. It feels like the next 9 months or so will be like a death march.

Even with that I feel p****d off most work mornings.

Just want to say, I feel your pain. April 30th followed by a couple of quiet ish months actually closing the business. I'd love not to have to come in tomorrow.

zagubov wrote: »

Reading some of these posts I've got to ask, what on earth were your union officials advising you?
Were they giving no support at all? Or if you've no union, a professional organisation?
Decisions about leaving pensionable work before retirement are a very big deal. This being a moneysaving site, we would all want you to take a step back, and talk to people in the know.

Your bosses may very well want you to make a snap decision to quit, but they may have very different goals from you.

You need to protect your interests and this can't be rushed.

Obviously my case is different because I'm closing my business, but the reason I am doing so is because my main customer is frankly losing the plot. In the last two years it has changed from a large company with a family feel to a corporate. About 50% of the people I deal with on a regular basis that I have known for over 20 years are taking early retirement or just freely talking about how they are toughing it out for another two years. I know of a couple who left age 52 with the big hit on their pensions that entailed.

There is nothing that a union or professional body could do. In fact year before last, the company won a place in the top 30 businesses tp work for, though anyone working there longer than 5 years is universally piddled off with the place. It's all the stuff that is supposed to make a company good, workforce policy - pfft - gym on site, they now have ten mental health advisors. But the day to day running, the people who make the stuff and the people who transport it;) are treat as totally irrelevant without it coming close to anything that you can actually complain about.:(

OldMusicGuy

MallyGirl wrote: »

I have never been a member of a union and my brief membership of the British Computer Society added nothing of that ilk to my life. IT doesn't really have a lot of that sort of setup as so many have learned on the job.

Same for me. Never worked in anything where a union was present or relevant (mainly IT) and only had one "pensionable" job between 1978 and 1982 (left before I accrued any pension rights). Ever since then I have been like most people are today, no DB scheme, purely reliant on my own DC pension provisions.

The retirement decision can be very challenging for people in my circumstances. You need to know when you have enough in your DC pot to retire and that is a tough call to make. That's why I have found the MSE forums so helpful, lots of good ideas and different perspectives.

GSP

Wenlock wrote: »

I found it really hard working the last couple of months.

The decision to retire (at 50) was made during a particular lunch hour but I agreed to carry on for a couple of months to finish various tasks. I really, really wanted to just finish but felt a duty to continue. I had enough accumulated leave to stop immediately.

With hindsight I should have phoned my manager during the lunchtime walk to say I was never coming back. You realise after you leave that you are just a number to your employers. They have no loyalty to you so why should you show any?

Leaving was the best thing I ever did by the way. Life doesn’t begin until you retire!

So close to the end and definitely light at the end of the tunnel. Going to be unpopular here but what are the terms for going off sick. Full pay for a few months perhaps, then half pay. Any restructuring coming up and chance of redundancy. Known people who have had a word with their HR when the workforce was due to be cut and managed to negotiate redundancy saving someone else's job. Don't feel guilty whatever you do. It's nearly 2019 and the turn of the year will,hopefully make seem nearer, which it is.

pimento

Another one counting the days.

I'm 58 and have decided to retire in April 2019. I have a very long commute (2 hours each way) and I'm just not enjoying the job any more.

I have a final salary pension but I think I might defer it until I'm 60. Just waiting for the figures from the pension administrators. They're taking their time though. Is it normal to wait several weeks for a projection?

MallyGirl

bugslet wrote: »

It's all the stuff that is supposed to make a company good, workforce policy - pfft - gym on site, they now have ten mental health advisors. But the day to day running, the people who make the stuff and the people who transport it;) are treat as totally irrelevant without it coming close to anything that you can actually complain about.:(

I work from home but one of the big offices now has a support dog you can go and spend time with for stress relief - I do feel a bit sorry for the dog.
Obviously I have 2 big fluffy monsters so I am more than catered for in that aspect

crv1963

JoeEngland wrote: »

I've changed from planning to give up FT work when I'm 55, to 54, and now to 53 around next August. Financially it would be better to hold on till 55 but some health issues are getting worse that it doesn't make sense for me to carry on much longer. Ironically, now the point at which I can semi-retire and maybe do a bit of PT work is much nearer I'm feeling more frustrated with going to work. It feels like the next 9 months or so will be like a death march.

Did any of the retirees on this forum have a similar problem and ways of coping with it? The only thing that's keeping me going is that a few financial things fall into place over the next year and it's worth hanging on for that. Even with that I feel p****d off most work mornings.

I feel the same way, except I actually do enjoy my job, feel I do make a difference for some others but certainly not all. I could go now with three months notice, but have changed roles to a post with enhanced pay for unsocial hours, to boost my DB pension.

I have a different problem- Mrs CRV hates my new working hours and shift pattern! I stay near work and do a run of 3 or 4 days (or nights) then come home, this is to avoid a daily 2 hour drive there then back.

My cardiologist advised me to change my work pattern to 3 12.5 hour shifts per week rather than the M-F, 9-5 I was working. Mrs CRV feels:- 1) we see a lot less of each other (true even though she works permanent nights), 2) I do less around the house/ garden because I seem more tired when home (true), 3) one of our dogs (diabetic) is more unstable with her illness than previously (also true as I am not there to monitor her as closely) and 4) that she feels I look more unwell (not helped by my mother also nagging the same song) even though I personally feel both less stressed and as though my blood pressure is better controlled(which it is as I do monitor it at work).

I do struggle with the B******* that goes with the job, so have to decide in the next month or so do I give notice and retire, looking at maybe retire and return for a couple of days per week for a couple of years or retire and live on a pension of around 16k pa, or stick to my preferred plan of working another 3 years and retire on 24k pa?

So I understand your quandary, do I go keep others happy or do I put others happiness at risk and risk basically my health and longevity for the bigger pension but in a role I enjoy? I suspect I will try to work out a compromise, maybe keep my current role but give notice in the summer that I'm going to retire next October at 56, get a smaller boost to the pension but keep Mrs CRV happy that I'm 1) not working myself to death and 2) I value her and what we have (she comes first and if she told me to go now I would).

So I think translating my situation to yours, what are the views of your spouse/ significant other? Do you think it viable to go now, how much do you value your health and their views? After all we're a long time dead!

JoeEngland

Wenlock wrote: »

I agree; I am someone who only seems to be able to deal with one issue or problem at a time. I couldn’t concentrate on family matters etc because I was permanently worried about work matters.

My quick decision was based on the fact that I had just reached the minimum age at which I was able to draw a much reduced pension. I had been deeply unhappy at work for some time. The final straw was receiving an email from a manager wanting to discuss new performance management procedures and other matters. I felt I just could not continue any longer, regardless of the financial consequences.

Some 4 years after retirement I have no regrets. I have limited money for discretionary spending but my physical and mental health is infinitely improved.

In a strange way it's good to know that I'm not the only who's finding work excruciating - sometimes I wondered if I was weird in this respect. I'm glad you've found it to be worthwhile jacking in the work even though you don't have much money.

Here's my lists of reasons to carry on working FT or give it up:

Work FT work

Money. That's it, no other reasons.

Give up FT work

Less stress
More time to sleep
More time to do hobbies
More time to keep house and garden in good condition
More time to learn something new
More time to travel (if you have the money)
General freedom and a feeling that your life is your own
More time to think, read, listen to music, watch films etc
No monday morning blues
No putting up with various types of s**t you get at work
No commuting
No scraping frost and ice off the car on winter mornings