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

atw_uss

I can theoretically retire in 2022 but that would involve a big actuarial reduction. I’m still considering it in the next 2-3 years but in the meantime have requested to reduce from full-time to three days a week instead. I still enjoy my job but would be happier with a lower workload (if it works out that way, of course - time will tell)!

Bobinyorkshire

I dropped from full time to part time nearly 3 years ago and it’s been really useful in ‘road testing’ the finances. It’s also helped in exploring what I enjoy doing with the spare time. It was a bit of a shock at first, but I came to realise that it’s ok to do things at a more leisurely pace. Good luck. I feel it has helped me a lot

atw_uss

Bobinyorkshire said:

I dropped from full time to part time nearly 3 years ago and it’s been really useful in ‘road testing’ the finances. It’s also helped in exploring what I enjoy doing with the spare time. It was a bit of a shock at first, but I came to realise that it’s ok to do things at a more leisurely pace. Good luck. I feel it has helped me a lot

Thank you - that is really useful to know (and reassuring). It has taken a while to make the decision but now I’ve applied, I feel so much more relaxed and excited at the prospect.

sheslookinhot

Just check what impact going part-time will have on your pension. I dropped to part-time in August but only about 8 months prior to retirement, so negligible effect on my pension.

atw_uss

It’s career average rather than final salary, so less of a hit, thankfully!

Bobinyorkshire

I’m in the NHS pension and after advice on this forum set up a SIPP to help with financing an early retirement and so limiting the actuarial reduction. If you set it up sooner rather than later you can imput more, as this will be based on your higher full time income.

Saltayr

I pressed that button today. I retire on 29th July, a couple of months after I turn 55. I might do some part-time work, I'll see. I think I may get some decent nights sleep now but the sense of relief is huge. I've only had three employers since graduating so I've only resigned twice. My DC kicks in at 60, I have decent cash reserves so the next 5 years should be fine.

This forum has been really, really helpful.

Saltayr

Saltayr said:

I pressed that button today. I retire on 29th July, a couple of months after I turn 55. I might do some part-time work, I'll see. I think I may get some decent nights sleep now but the sense of relief is huge. I've only had three employers since graduating so I've only resigned twice. My DC kicks in at 60, I have decent cash reserves so the next 5 years should be fine.

This forum has been really, really helpful.

That should of course say DB!.

Anonymous101

Saltayr said:

I pressed that button today. I retire on 29th July, a couple of months after I turn 55. I might do some part-time work, I'll see. I think I may get some decent nights sleep now but the sense of relief is huge. I've only had three employers since graduating so I've only resigned twice. My DC kicks in at 60, I have decent cash reserves so the next 5 years should be fine.

This forum has been really, really helpful.

Brilliant. How did it go? Was there much initial reaction? I'm always very interested to hear people's stories of handing in their notice. I think there's often a lot to be learnt from these situations.

I'm no where near retirement but have moved employers 3 times in my career so far. Each time leaving on good terms with the employers twice trying to keep me on. It often makes me think that I was in a much stronger position than I'd previously thought regards previous pay and conditions negotiation.

Saltayr

Anonymous101 said:

Saltayr said:

I pressed that button today. I retire on 29th July, a couple of months after I turn 55. I might do some part-time work, I'll see. I think I may get some decent nights sleep now but the sense of relief is huge. I've only had three employers since graduating so I've only resigned twice. My DC kicks in at 60, I have decent cash reserves so the next 5 years should be fine.

This forum has been really, really helpful.

Brilliant. How did it go? Was there much initial reaction? I'm always very interested to hear people's stories of handing in their notice. I think there's often a lot to be learnt from these situations.

I'm no where near retirement but have moved employers 3 times in my career so far. Each time leaving on good terms with the employers twice trying to keep me on. It often makes me think that I was in a much stronger position than I'd previously thought regards previous pay and conditions negotiation.

It was fine thanks. It's important to be civil and positive. I still have 6 months to work so I will be contributing and leaving with things in good order and handed over to my successors (my job will be split into two departments). I've never left on a whim, only after a great deal of thought and planning. Treat others as you would have them treat you.