Long Sabbatical/early retirement - pretips

LHW99

https://forums.moneysavingexpert.com/discussion/comment/82163784#Comment_82163784

It depends on your work history. in the main, the only people who need exactly 35 years are those who began work after April 2015. People on here have needed a range from (I think) about 28 years, up to 50

mutley74

Hi thanks for comments. This is screen shot my forecast and text below.

QrizB

That says to me that you've already got a full SP in the bag, even without completing 26/27 NI.

My forecast, for comparison, has a line that says "You need to continue to contribute National Insurance to reach your forecast" and then details of how many more years I need. This all appears after the line about inflation and before the "you cannot improve your forecast any more".

silvercar

Do you have annual leave outstanding? When does your annual leave year end? How many days can you carry over from one year to the next?

Max these so that you take all owed annual leave at the end of the work time. So if your annual leave year is the calendar year and you will have 5 days from 2026 to carry to 2027, then you will earn a quarter of your annual leave between January and the end of March 27, you could if you have say 30 days including bank holidays, take 7.5 for the 2027 one quarter a year you will have worked plus 5 carried over is 12.5 days or 2.5 weeks. That could mean leaving around March 10 but being paid til the end of March.

How much notice do you need to give? Once you give notice, they should calculate your leave and allow you time to take it. Whereas companies can be difficult if you are still employed, if you are leaving they need to let you take the leave or pay it out, so their options are more limited.

mutley74

https://forums.moneysavingexpert.com/discussion/comment/82164649#Comment_82164649

My annual leave is based on a calendar year and we cannot carry any over.
I might be able to buy 10 extra days plus my standard 25 day allowance.
My notice period is 1 month.

mutley74

That's good to know! Thank you :) Happy Days!

Bostonerimus1

Going into a sabbatical that might lead to early retirement, why is your credit score an another credit card important to you?

silvercar

https://forums.moneysavingexpert.com/discussion/comment/82164656#Comment_82164656

So you could give notice at the end of February that you are leaving end of March. You’d have 6 days of your 25 for Jan-March that you could take the last week of March and be able to do your trip. Not sure how a policy on buying leave works if you are resigning- if you are buying 10 days and then leaving 10 days later, don’t they balance?

mutley74

https://forums.moneysavingexpert.com/discussion/comment/82164850#Comment_82164850

I have not opted to buy 10 days extra leave. It is an option.