Redundancy / sickness

Ciprico

I would appreciate any independent opinions on my predicament.....

I have been working for the same company for 25 years, and they have been very good to me, I have just turned 60, and have been contemplating retiring for the last year. The sums add up to be able to retire and maintain our living standards etc.

Then I am diagnosed with cancer, and given a 90+% chance of survival, but will require taking a significant amount of time off work for treatment and recovery over the next year or so.

My job is "tricky" in that I am the only employee in the UK, so although I appreciate no one is irreplaeable, it will be very inconvenient for the company when I leave...

Impossible question I know, but what would you do...?

The_Unready

Retire asap!

400ixl

Speak to your company and see what they would propose around time off and recovery. Many have plans in place where you still get paid a percentage of your salary for a set amount of time.

If they do have options for you to be off and for recovery that allow you to get paid then you can decide once recovered whether you want to return full / part time or retire.

May as well see whether you can get money for that period and delay your pension withdrawal.

Bobbobbobingalong

Well, you needn't rush any decision as initially you can take sick leave as per your employer's procedure/policy. There may also be an option to avail yourself of a "Long Term Disability" scheme or similar that your employer provides (we don't know, you haven't said), which will keep you on the books for a good while longer as your recovery progresses. In theory, you may be looking 5 years plus hence with some form of income whilst not actually working and at the end of it, then you could decide.

All rather speculative though without greater background I'm afraid and remember that you will have some protections under the Equality Act.

comeandgo

Your heading says redundancy/sickness.  Redundancy comes in when your job or your employer no longer exist, so you can’t look for redundancy for you being long term ill.  Do you get  enhanced sick pay from your employer or just basic SSP?  If enhanced, I would just stay, if basic, I would go.

Ciprico

Thank you for your comments. Apart from the foreign owner (a director) I am the one and only employee in the UK ltd company.

So nothing has been set up and there is no precedent.

Brie

Is there any employment contract of any sort?  That would be the first point of reference.

JReacher1

Main focus should be obviously focusing on your health and hopefully you do make a full recovery. 

Personally I would not retire while this was going on. Mainly for two reasons. 

1) you may as well take advantage of your companies sick policies to get paid while you go through treatment. If you need a significant amount of time off and they end up looking at dismissing you then they will have to pay you holiday, notice etc.
2) a bit bleak but in the worst case scenario if you don’t recover then assuming your company has a death in service  policy then your next of kin would receive a payout. Obviously hoping this doesn’t happen but it is something to be aware of. 

Marcon

Ciprico said:

I would appreciate any independent opinions on my predicament.....

I have been working for the same company for 25 years, and they have been very good to me, I have just turned 60, and have been contemplating retiring for the last year. The sums add up to be able to retire and maintain our living standards etc.

Then I am diagnosed with cancer, and given a 90+% chance of survival, but will require taking a significant amount of time off work for treatment and recovery over the next year or so.

My job is "tricky" in that I am the only employee in the UK, so although I appreciate no one is irreplaeable, it will be very inconvenient for the company when I leave...

Impossible question I know, but what would you do...?

Not an impossible question at all: prioritise my health in whatever way is most likely to produce that outcome. 

Suzycoll

Ciprico said:

I would appreciate any independent opinions on my predicament.....

I have been working for the same company for 25 years, and they have been very good to me, I have just turned 60, and have been contemplating retiring for the last year. The sums add up to be able to retire and maintain our living standards etc.

Then I am diagnosed with cancer, and given a 90+% chance of survival, but will require taking a significant amount of time off work for treatment and recovery over the next year or so.

My job is "tricky" in that I am the only employee in the UK, so although I appreciate no one is irreplaeable, it will be very inconvenient for the company when I leave...

Impossible question I know, but what would you do...?

Hi
I am sorry for your illness.

Just a thought but you can check with your employer if they can retire you under ill  health retirement rules

You can then take your work pension early? 

Not sure if that helps? 

Marcon

Suzycoll said:

Ciprico said:

I would appreciate any independent opinions on my predicament.....

I have been working for the same company for 25 years, and they have been very good to me, I have just turned 60, and have been contemplating retiring for the last year. The sums add up to be able to retire and maintain our living standards etc.

Then I am diagnosed with cancer, and given a 90+% chance of survival, but will require taking a significant amount of time off work for treatment and recovery over the next year or so.

My job is "tricky" in that I am the only employee in the UK, so although I appreciate no one is irreplaeable, it will be very inconvenient for the company when I leave...

Impossible question I know, but what would you do...?

Hi
I am sorry for your illness.

Just a thought but you can check with your employer if they can retire you under ill  health retirement rules

You can then take your work pension early? 

Not sure if that helps? 

Good thought, but with only one employee, any pension arrangement is going to be a defined contribution scheme - and as OP is already at minimum pension age (60), there will be no need for ill health retirement to kick in. DC schemes don't normally have the same advantageous terms as a defined benefit scheme.