Having problems deciding whether to press that resignation button....

SouthCoastBoy

Some of these notice periods seem very long, how could you ever move jobs with such notice required? Mine is two months and for me that is one month longer than I would like.

Albermarle

SouthCoastBoy said:

Some of these notice periods seem very long, how could you ever move jobs with such notice required? Mine is two months and for me that is one month longer than I would like.

I had 4 months , but would have been happier with longer , as aggressive takeovers were always on the horizon .
If you got the push then the longer the notice period the better for your wallet .

Secret2ndAccount

SouthCoastBoy said:

Some of these notice periods seem very long, how could you ever move jobs with such notice required? Mine is two months and for me that is one month longer than I would like.

A friend of mine had some important insider knowledge. He signed up to a 12 month notice period, then, within months, they decided to close the project down, and paid him the full year, with no tie-ins or gardening leave. 100k for nothing  

cfw1994

sheslookinhot said:

Well, that retirement button has been pressed. Last year I was thinking about retiring April 21 but decided with an extra 10% on the table I may give it another year. Then COVID hit. The past year has flown in, mostly WFH. Out on my many long walks I made the decision I was going to retire April 22. Went part-time for a few months and finally handed  in my notice this week for a retirement end April. 

I’ll post my pension options on another thread, my preferred option and seek advice from the knowledgeable folks on this forum that it’s the right one. However, I may defer it until Dec 22 or April 23 as I get another 8-9%. A small SIPP will do me for a year. It will probably subsidise my DB pension until full SP kicks in Aug 25.

Plan a holiday on the Algarve before I retire then preparation for the Camino Frances, a 500 mile pilgrim walk in north Spain. The Camper-van can wait.

Congrats 🎉🎉🎉
That is a long notice period!  Teaching?

You planning to walk that?  Is that the one in the Martin Sheen film "The Way" ?   I know that was "Camino de Santiago" - maybe there are many Ways!

sheslookinhot

SouthCoastBoy said:

Some of these notice periods seem very long, how could you ever move jobs with such notice required? Mine is two months and for me that is one month longer than I would like.

My notice is 3 months, but if I give 5 months the company offer  a wind-down. This means for the last 3 months I drop to 2 days, from 3 per week. This allows a gradual easing into retirement rather than a sudden stop. Full time employees go 4, 3 & 2 for the last 3 months. Normal pay is retained. 

Madrick

I have one month notice on my side and three months notice on the employers side

SouthCoastBoy

Madrick said:

I have one month notice on my side and three months notice on the employers side

Now that is a deal I would like, best of both worlds!

Nebulous2

In a previous role we were asked to move to a 3 month notice period and I agreed. No-one was held to it, with most people negotiating around 6 weeks. I got a new job, handed in my notice with the expectation I would be able to start in 6 weeks. In less than 2 hours my boss called me and said we want you to work your full 3 months. 

It was odd - I had several monthly meetings - I'd go to them, everyone would say goodbye, then I'd turn up the next month to strange looks. By the third meeting it had reached the point of:- "Why are you still hanging around?" 

Albermarle

If you have sensitive market info , then the employer will want to have at least 3 months . Then they can put you on garden leave if you say you are leaving to join a competitor . The hope being that when you do leave at least your info will be 3 months out of date .

Bobinyorkshire

It’s so interesting to read these threads. 

I’m having the same dilemma about ‘pressing the button’. 

Having sorted the finances, the difficulty lies with the psychology of finishing work ie the change in life structure and being the 1st of your siblings and peer group not to have a job