Pension

[barney4444]

I have worked for a firm for 35yrs and have been in the pension scheme for 33 yrs. Due to medical reasons I am now unable to continue my employment. I have been refused my pension because the firm say to get my pension I must be so unwell that I cannot do any work for anyone,anywhere.
The firm has offered me 1 years wages and my pension wil be frozen for 8 yrs until I am 60, there is provision in the scheme for early retirement due to ill health but they mantain I do not qualify.
I have been in the union for over 30 yrs but they are proving to be no help at all !!
Thanks for any advice.....

[DaisyMae]

Citizen's Advice Bureau - pronto.

[DaisyMae]

I'm sorry Barney, that may have sounded brusque to the point of rude - I had to rush to answer the phone.

You obviously need some serious advice and I think you are more likely to get it at the CAB than on here. I wish you well.

[factor-fiction]

Sorry to hear you are unwell.
I think you'll find that the trustees' decision is final. They have to consider whether you are unable to do any work ever again for anyone, not whether you are unfit to do current job

[barney4444]

Thank you both for replying.. I fear that factor is probably correct but it seems so unfair.. thats life I suppose !!

[buildersmate]

Agree with F30. There isn't a law that says you must be so unwell and many companies release employees in your situation and allow them to start the pension. Yours however isn't operating this and I suspect the trustees have the final say.
Bear in mind that you aren't actually losing anything from this decision - if you WERE able to start your pension now, you wouldn't get as much money weekly if you start it now as if you start it at 60.
Out of interest, is it a money purchase (defined contributions) scheme or a final salary (defined benefits) scheme.
It may actually be advantageous NOT to be getting the pension now. I don't know your circumstances (nor want to know) but one wonders if you have accrued enough NI qualifying years to get your Full Basic State Pension bit (which you don't get until 65 I'm afraid in any event), plus you will surely qualify for some state handouts until age 60 - meanwhile your pension pot might (reasonably) be expected to continue growing for you (global markets performance permitting).

[barney4444]

Thanks..It is a Final salary scheme but whether it will be in 8 yrs is doubtful I guess....

[themas]

I think whether they are right depends on the precise wording of the relevant clauses in the Trust Deed or whatever other document there is which sets out in full the benefits the scheme provides.

If you want, you can ask them to give you this precise wording & get someone who has specialist knowledge to check it for you - it is almost certain to be worded in such an obscure way that no ordinary mortal can understand it!

[Folker]

Which union do you belong to?

[barney4444]

Unity.. used to be T.G.W.U....