Pension and ill health retirement

[Sputters2017]

It looks like I will be getting I h r in the next few weeks . I am 61 . I already recieve my nr60 but Does anyone know what will happen to my nr65 also what happens to the money I have paid into the new scheme to date . Also what happens to my avcs . Thanks for any replies.

[RobertT]

I assume your IHR involves the 34 weeks pay + PILON?

If so, your NRA65, DBCBS and AVC's can still be taken as you would take them now:

NRA65 – if taken early will be reduced accordingly.
DBCBS & AVC's can be taken with NRA65 benefits or transferred out to another pension arrangement.

I'm not too well up on the other version of IHR, but the 4 Pillars agreement says it's:

50% of pensionable pay, less State benefits, payable for up to 3 years, plus a lump sum payment at the end of the 3 years, plus payment of accrued benefits.

Basically, I believe you get the 34 weeks pay if you're deemed not capable of working for RM again.
You get the 50% of pensionable pay, etc if you're deemed not capable of working ever again. In that instance you can apply to get your pension paid without reduction, and that is at the discretion of the trustees.

[Sputters2017]

Thanks Robert.

[97gaz]

I assume your IHR involves the 34 weeks pay + PILON?

If so, your NRA65, DBCBS and AVC's can still be taken as you would take them now:

NRA65 – if taken early will be reduced accordingly.
DBCBS & AVC's can be taken with NRA65 benefits or transferred out to another pension arrangement.

I'm not too well up on the other version of IHR, but the 4 Pillars agreement says it's:

50% of pensionable pay, less State benefits, payable for up to 3 years, plus a lump sum payment at the end of the 3 years, plus payment of accrued benefits.

Basically, I believe you get the 34 weeks pay if you're deemed not capable of working for RM again.
You get the 50% of pensionable pay, etc if you're deemed not capable of working ever again. In that instance you can apply to get your pension paid without reduction, and that is at the discretion of the trustees.

There is an option for both. Because I was deemed to not be fit to work again for anyone, I had the option of 34weeks+Pilon or the 50%. The 50% pay looked funny to me as it's based partly on state benefits, ie it is 50% with your state benefits. My savings would have took me over the limit for state benefits so I took the lump.