Bold leap into retirement

pterri

https://forums.moneysavingexpert.com/discussion/comment/81887630#Comment_81887630

its something in our policy. our holiday entitlement runs from january, id taken five day when left in april but got the remaining 24 of my annual 29days leave and an additional 5. I also got the bank holidays over my 'leave' period. so i left begining of april, went on 'leave' and way paid uo to the end of may. lovley bonus!

pterri

its a legacy of something agreed with unions decades ago. HR do not make it obvious, it must be expensive. its hidden away in policy documents, an old hand pointed it out to me. from memory you have to have had 20 plus years service

S50B32

I have been lurking on this forum for a while and reading this thread in particular had made me look at finances and consider when I could finish work.

I worked in a corporate, reasonably high stress at times environment and came to realise I was not enjoying work anymore.

The finances looked to be able to work and I planned to retire in Jan 27 at 57 years old having reduced to 4 days a week in 2025.

I was able to bring my plans forward rather quickly due to a voluntary redundancy opportunity and finished work in December 25. I'll start a separate thread about my financial plans, I need to consolidate pensions/open a SIPP so I can transfer a workplace pension and would value a forum critique of my plans.

When I reflect on the last 2 months I can say I have not missed the work at all. I'm still in touch with ex colleagues who have become friends.

I've not been short of things to do - I've picked up a paintbrush and have decorated 2 rooms already. My step count has doubled and I'm going to start cycling again when spring finally arrives. We have some holidays planned. I have a couple of classic cars which I'll be able to use more.

My wife is still working, she enjoys her work in a small friendly company.

Thanks to all the posters whose stories have inspired me to have the confidence to stop working.

MallyGirl

https://forums.moneysavingexpert.com/discussion/comment/81887880#Comment_81887880

I was planning to quit this year at 59 but I also got the chance of VR last year so I bit their hands off. With over 20 years service it was financially pretty neutral either way but on one side I would have had another year in a job I was sick of. My husband is still working and not sure he wants to stop yet as, after a couple of bad periods, he is currently enjoying it. He knows he can change his mind at any time. I have said that I don't want to hold off for too long doing some things like travelling while we are still fit and well.
As a retiree, rather than a leaver, I would have been classed as a 'good leaver' so this would have affected a few things like accrual of bonus and the ability to contribute a bit more into sharesave. Redundancy, even by choice, made me a good leaver anyway.
Since retiring I have ramped up the exercise and lost a stone. Conserving OH's holiday, plus looking after an aged arthritic dog, is a blocker to fully taking advantage of the flexibility of no work but these things are temporary. We do have a safari booked in the summer but I would like to get back to NZ which needs weeks.

Cobbler_tone

https://forums.moneysavingexpert.com/discussion/comment/81887130#Comment_81887130

The one day a week off to adjust for retirement for the last 12 weeks is a company policy. We also get support seminars, financial advice etc.

katejo

https://forums.moneysavingexpert.com/discussion/comment/81887842#Comment_81887842

Wow to this and your other reply today! I have never heard of anything like this at all. I have done over 30 years but I doubt I will get the equivalent. I am assuming I will only get the proportion of this year's leave up to when I do stop.

Pat38493

https://forums.moneysavingexpert.com/discussion/comment/81888100#Comment_81888100

Some companies do have stuff like this - with my company since I told them I was retiring (even though I was not activating any DB pension at that moment), I got a letter saying I would still be entitled to the bonus for the year even though I had left. I don't think it will matter as the company is not doing great right now so I doubt there will be a bonus anyway, but if there was I would still get a share.

katejo

https://forums.moneysavingexpert.com/discussion/comment/81888207#Comment_81888207

I work for a university so have never had bonuses at all.

katejo

I have taken the plunge and given my notice today. I only have to give 1 month but have actually given just over 2 months so due to finish at the end of April. I could have waited longer if my DB pension were flexible but it isn't. I can't access any of it until I give notice. I am allowed to return and do a few casual hours after a month gap. 🤞 that I am doing the right thing.

MallyGirl

https://forums.moneysavingexpert.com/discussion/comment/81888767#Comment_81888767

congratulations