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| John Rudd:
Stuart, Shortly after I left work this morning after receiving the news,I got a phone call from my ex-manager....after the pleasantries, he said he needs to talk to me make sure I'm ok.... Basically he thinks I should go straight to my pension even tho' I'm only 56, but that I should get at lest two years salary as redundancy,(again 6 figures....) We'll see what happens...... |
| lordedmond:
John very similar to me I was 55 now 67 so at 65 got my state pension so did the boss, I am lucky my pension from Nat West is index linked and I have enjoyed 3% plus pay rises , whilst in work we got less that 1 % now we are comfortable and have a good nest egg had to split it up though due to the limit that your funds are guaranteed , make sure if you do that the firms are not in the same group if they are they count as one I am not sure if you can use this method of tax avoidance now but I paid all my pay out into the pension fund purchased an annuity with some and then withdrew the rest back out therefor no TAX was paid on the lump , the bank sorted this out for me , maybe worth some enquirers to see what the score is now as I was on 50pence in the pound the tax bill makes me go pale now Stuart |
| chipenter:
I was made redundant 20 years ago with a pension suposed to be half salery , but it wasn't indext linked I now get £75 a week a hole lot less than I was expecting . |
| Chuck in E. TN:
John, make lemonade out of your lemons! You won't regret it. I retired a couple of years ago after getting fed up with managments constant harassment. I was employed by a local school system (Government retirement system) The politics you wouldn't believe! I was harassed as being slow(read old), and not doing enough (read working an 8 hour job with regular unpaid overtime). Having an excelent record of cost savings and a reputation for fixing any and all problems wasn't enough. If my job could have been outsourced to Asia, it would have been. Finally had enough and took retirement. Come to find out I was replaced by he head of IT's newly graduated from college son. Best decision I ever made! I answer to Herself and no one else. I have more available spending money as I'm not driving 50 Mi. each way to work, I can wear jeans if I want. quit work when I want, the list goes on. Take your severance package and invest as much as you can, and enjoy life! I am! Chuck |
| John Rudd:
Comforting words Chuck..... And there are a lot of similarities between us...... I reckon one of the main reasons for my departure is that I'm not degree qualified or am member of a professional body yet have the title of engineer....(I guess I name up for it with experience?) I won't be sad to leave, just a change of lifestyle.... :beer: |
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