Now that women who planned to retire at 60 are having to retire at 66 what happens to their employers pension schemes? Can a woman still get that income from 60 or are they all varying? For the sake of argument assume we are not thinking of their current employer, but a previous one.
You are confusing state pension ages with retirement dates. Contract clauses about retirement dates are now void.
The details of when a company pension can be taken will be in the relevant contract.
I see, I think. So the age is not critical, but to get an income from the earlier employer you need to 'retire' i.e. stop working for the current employer. Sorry if it was a silly question.
I suppose some people may have such a contract, but I would be surprised if it were common, as it seems to give an unfair advantage to the scheme, assuming it is defined benefit and there is no increase for taking the pension later.
You will need to look at the documents to be sure.
No. There shouldn't be a problem of getting a pension from an earlier employer if you have reached the qualifying age, even if you are still working for a later employer.
I received a pension and a salary at the same time some years ago before I actually retired. In my case they were for essentially the same job, but the part of the company I was working for was taken over by another company - so my pension provider and (then) current employer were two different legal entities.
I have a feeling that there are circumstances now under which you can receive a pension *and* a salary from the *same* legal entity.
Thank you David and Roger. I remember a woman, then fairly recently retired, whose ex-employer was seriously short-staffed. She would have gone back for a bit but couldn't because it would affect her pension. Presumably this was because the employer and pension provider were the same. Although that was the civil service so the rules may be different.
Well, yes, an example that comes to mind is teachers in the state sector. The scheme's 'retirement' age has recently been raised, but accrued benefits will be honoured (as they should be), so any teacher working through to retirement age having been a pension scheme member prior to that retirement age having been raised, would AIUI spend some time in receipt of a teachers' scheme pension and a teacher's salary.
There may be well be a lot of other public sector and private schemes that have taken the same route.
The usual way round that would be to sign up with an agency which provides temporary staff to the relevant department. That way, she wouldn't be officially "employed" by the civil service, but would still be working for them.
Yes, you can now "retire" , receive your pension and tax free lump sum and continue to work seamlessly.
John
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