Taking pension at 55

zz666 · Post by **zz666** » 29 Sep 2016, 16:23

If I retire at 55 do I need to get permission from my employer before I can take pension early. Can they refuse permission?

Post by **RobertT** » 29 Sep 2016, 17:07

zz666 wrote:If I retire at 55 do I need to get permission from my employer before I can take pension early. Can they refuse permission?

You have to apply to take it before normal retirement age. But as taking it at 55 is a legal right they shouldn’t be able to refuse. Obviously it will be reduced for early payment.

Surreypostie · Post by **Surreypostie** » 05 Oct 2016, 15:41

Also. you have the option to take some or all of it at 55 and carry on working.

capricorn1959 · Post by **capricorn1959** » 07 Nov 2016, 23:50

I took mine at age 55.
Obviously it was at a reduced rate.

I did get to take a lump sum, quite a generous amount, as I had worked 26 years,
but as it was generous, I obviously had chosen a lower monthly pension,
but one that I felt comfortable with.

I have now been finished a year and a half,
and quite honestly have never looked back.

Hubby had a serious health scare some years before I finished,
and when I got to 55 I thought do I spend time with him or RM,

yay!!!! Hubby won.

You can't be refused a pension, but just make sure your incomings afterwards will be fine for your circumstances.

scoobydo79 · Post by **scoobydo79** » 15 Mar 2017, 16:14

Advice please. Is it a good idea to take pension at 55 and keep working? Can We get advice from Royal Mail on it? Im a bit baffled about How ir works

and if its the right thing for Me to do. Any help appreciated thanks

Post by **RobertT** » 15 Mar 2017, 16:21

scoobydo79 wrote:Advice please. Is it a good idea to take pension at 55 and keep working? Can We get advice from Royal Mail on it? Im a bit baffled about How ir works and if its the right thing for Me to do. Any help appreciated thanks

Generally speaking it's not a good idea to take your pension at 55 and keep working. The CWU have given advice on the matter. Watch the video on this thread for more info: http://www.royalmailchat.co.uk/communit ... 27&t=78857" onclick="window.open(this.href);return false;

scoobydo79 · Post by **scoobydo79** » 15 Mar 2017, 19:54

Thanks Rob that what I need