Partial retirement and the Civil Service Compensation Scheme

Bearhop

I took partial retirement from my civil service job when I turned 60 last year. Slightly before I took PR I was moved to the Alpha Scheme. My new pension age is 67 under Alpha. 

My role is now being restructured and Voluntary Exit is being offered. 

I am finding it difficult to understand how my PR will affect what I might be entitled to under the scheme. I understand that my having taken PR will reduce what I may be offered but I can't work out to what extent. The opportunity to obtain a quote from MyCsp is months away, I have phoned them but they were unable to give me any advice. 

Has anyone on here any insight? 

ClashCityRocker1

Did anybody have any answers for this? 

ClashCityRocker1

I found this:

Exit after partial retirement or formal retirement

We’ll use the whole of your current continuous service (both before and after partial 

or formal retirement) to work out your compensation payment. This is subject to the 

limits according to your age or any part time service

ClashCityRocker1

So if your payment is based upon x months pay, the only question remains do they use your final reduced salary or the FTE?

ClashCityRocker1

But...

Partial retirement will not affect any service you have built up which is then used to decide whether you are eligible for early retirement benefits under the Civil Service Compensation Scheme.

However, partial retirement will affect the service which is used to calculate the amount of your early retirement benefits. Your early retirement benefits would be based on your new service, plus any reckonable service you didn’t take on partial retirement. Any reckonable service you took on partial retirement would therefore not count towards your early retirement benefits.

As a minimum, you would receive a compensation lump sum equal to the amount payable under the statutory redundancy payments scheme. This would be worked out using all your service (including the service you took on partial retirement).

ClashCityRocker1

So if I have taken 16 years classic and all alpha at partial retirement the calculation will be based up remaining Classic (2.5 years) plus any time in alpha since partially retiring. Which means instead of 6 months pay it would be about 3 months - so the statutory scheme is likely to pay me more.

ClashCityRocker1

ClashCityRocker1 said:

But...

Partial retirement will not affect any service you have built up which is then used to decide whether you are eligible for early retirement benefits under the Civil Service Compensation Scheme.

However, partial retirement will affect the service which is used to calculate the amount of your early retirement benefits. Your early retirement benefits would be based on your new service, plus any reckonable service you didn’t take on partial retirement. Any reckonable service you took on partial retirement would therefore not count towards your early retirement benefits.

As a minimum, you would receive a compensation lump sum equal to the amount payable under the statutory redundancy payments scheme. This would be worked out using all your service (including the service you took on partial retirement).

ah that's early retirement benefits!  Not compensation amount - so if I'm over retirement age (which I am I think that I'll get six months pay compensation (as I have way more than 6 years service)

westv

I don't understand any of this but I see the OP never came back on this and hasn't been on here for over 2 years.

ClashCityRocker1

Well, I took partial retirement in July but there may be a redundancy exercise next year, hence my interest.

As far as I can tell you'll get a full redundancy payment based upon service and FTE salary (assuming you are accepted!)  but obviously if you also take your pension it will be based only on pension not yet taken (as you are already getting the rest).