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Early retirement

Discussion in 'Scotland - Primary' started by trolley1, Nov 3, 2019.

  1. trolley1

    trolley1 New commenter

    For anyone in the know in Scotland, if I were to take early retirement at the end of this current session, would I put the date as end of June or start of next school year in August. In other words, would I be able to claim salary through the summer holiday?
    SPPA states it can take 4/5 months to sort out pension. Realistically when is the earliest / latest date I must inform council / head of my plan to retire?
    Thanks
     
  2. bonxie

    bonxie Senior commenter

    I think you can set your resignation date for whenever you like so long as you give enough notice (according to my contract it's a month) so making it for the end of the summer holiday would mean you'd get the full pay for those holidays that you are entitled to. If you set the date for the end of June, you'd lose out on that.

    It would be worth contacting your union and your employer's HR department to explain what you want to do and get their advice on when would be best to set the process in motion for taking early retirement and claiming your pension. They would also be able to advise you on what exactly you need to do to get the ball rolling.
     
  3. Flyonthewall75

    Flyonthewall75 New commenter

    You should be able to find some of the information you require here:

    https://pensions.gov.scot/teachers/retirement/planning-retirement

    It seems to suggest you apply to the SPPA three months before you want to start taking benefits from the scheme but I'd check it out with the SPPA just to be sure.

    They may suggest doing it as early as possible so that they can work out the actuarially reduced pension you will receive. I'm sure you're already aware of the youngest age at which you can apply for early retirement.

    If you're employed ask your employer for the application form as they have to complete a section of the form.

    As for the date your teaching contract ends, it is normally the last day of the summer holidays - the same as moving school but HR and the SPPA will keep you right on that point.

    Good luck - enjoy!
     
  4. Marisha

    Marisha Occasional commenter

    Yes, that's what I did. (As I recall, you should be entitled to your summer holiday salary anyway, given the way our pay is worked out, but setting your retirement day for the start of the school year solves that problem.)

    BTW, the inland revenue mucked up my tax when I retired - robbed me of my personal allowance, I didn't realise until I got my tax notice for the current tax year. My cheque, reimbursing the money they took in error, arrived on Saturday.
     

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