ill health retirement

[cowboys]

Hi,just looking for a bit of information regarding ill health retirement.I’ve been a rural delivery postman for 36 years,but took Ill health retirement a month ago,having severe asthma and another breathing issue.Got the standard £21,500 including the 12 week PILON.
My question is ,I’m looking to take my Age 65 benefits(I’m 63 and already taken Age 60 benefits)but will it be reduced by 5% for each year taken early,despite the ill health nature of the retirement?

[97gaz]

Depends on the terms you leave on. Royal Mail deemed me not fit to work for anyone, not just RM. As a result they started my NRA65 early without deduction. I was 62 at the time. Now I didn't know this was going to happen as no mention had been made of it. I was surprised when they contacted me weeks after I left to tell me this.

[widdop1]

How long did the IHR take to come through after final OH meeting?

[derkhead]

Does the payout get taxed?

[97gaz]

Does the payout get taxed?

For a full timer, the £21.5k is after tax. The 34 weeks payment is untaxed and the 12 weeks lieu of notice is taxed.

[itsme100]

Hi. How long does the IHR take to come through after the final OH meeting?

[derkhead]

Does the payout get taxed?

For a full timer, the £21.5k is after tax. The 34 weeks payment is untaxed and the 12 weeks lieu of notice is taxed.

Thanks