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Phased retirement or new part time contract?

Discussion in 'Workplace dilemmas' started by SusieQ55, Mar 16, 2019.

  1. SusieQ55

    SusieQ55 New commenter

    I'm looking for advice regarding the best option from either phased retirement or a new part time contract. I'm 56, and thought I'd settled on phased retirement as it enables me to keep the benefits of years of service, sick pay entitlement and so forth, whilst maintaining my current pay scale and role. However, at a Weslyan retirement seminar recently, it was suggested that the better option would be to take my pension and ask for a new part time contract with a day's break in service. This seems attractive but I'm concerned about the acceptability to my head and HR, ( do LA schools have rules on this type of thing!) and the potential loss of 15 years service benefits. This is especially pertinent as I am a cancer survivor and have previously had to take time off for treatment, so I don't want to lose those benefits. Any advice appreciated.
  2. diddydave

    diddydave Established commenter

    I'm no expert and Wesleyan are so I'd give more credit to their advice. I'd ring TPS and ask them these questions. The only thing they may not be able to answer is whether either choice will affect your other employment benefits such as redundancy entitlement.

    However, it's my understanding that either way you need an agreeable Head as for phased retirement you have to drop your income by 20% which is likely to mean a new contract anyway - though phased retirement is less likely to affect your service with regard to redundancy entitlement as there probably won't be a break in service.
    SusieQ55 likes this.
  3. Sundaytrekker

    Sundaytrekker Star commenter

    To preserve your health benefits you need to use the phased retirement route. This also protects your salary. If it’s a different part time role you are taking on then a break before a new contrac5 might work but you won’t keep the other employment protection you need.
    SusieQ55 likes this.
  4. SusieQ55

    SusieQ55 New commenter

    I think you're right about keeping my service record; not only sick pay, but redundancy rights- especially with schools currently suffering financially.
  5. Piranha

    Piranha Star commenter

    If you are under the Burgundy Book, then it should not affect your health benefits. From section 2.1: For the purpose of the sick pay scheme, “service” includes all aggregated teaching service with one or more local education authorities. If not, then you would need to check with your school - I would get it in writing!
  6. Sundaytrekker

    Sundaytrekker Star commenter

    I’d forgotten that rule, piranha. Might be worth considering potential redundancy rights, too.

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