From 1 October 2011, the University ceased to operate a compulsory retirement age.
While Government regulations did allow employers the option of retaining a compulsory retirement age, the University decided in the interests of retaining and attracting top quality staff and in order to promote fairness, that it will no longer retain a compulsory retirement age which for most staff has been based on their 65th birthday.
Staff who are members of one of the pension schemes offered by the University will be able to retire and access their pensions, subject to the specific requirements of each pension scheme. In advance of making a final decision, members of staff are advised to seek advice on retirement, retirement planning and pensions from the Pensions Team, within the Human Resources Department at firstname.lastname@example.org. It should be noted that in terms of formal notice of retirement, members of staff will need to provide the appropriate contractual written notice to their Head of Department of the date they wish to retire.
Staff who are not members of one of the pension schemes offered by the University and who wish to retire will need to provide the appropriate contractual written notice to their Head of Department of the date they wish to retire.
As part of a wider initiative to ensure staff aims and aspirations are addressed, the Professional Development Review (PDR) process will enable members of staff of any age to have dialogue about their short, medium and long term plans and aspirations; and this will provide one opportunity for members of staff to raise the issue of their retirement. Staff are of course free to discuss their retirement with their Head of Department at any time.
Members of staff considering retirement are encouraged to consult their Head of Department at the earliest opportunity as this will not only assist planning, but will also enable the fullest support and advice to be provided and will provide the opportunity for any associated matters to be discussed.
HR can support you through your retirement process
Whether you are considering early retirement, retirement on the grounds of ill health or retiring at 65 or a later age, you should contact your area HR Business Partner for advice and support.
You should also speak to the Pensions Team for advice about your pension benefits.
The University offers a ‘Planning for Retirement’ two-day workshop which runs 2-3 times per year. The workshop takes a positive look at the changes that occur when employees move from employment to retirement and gives participants the confidence to look forward to a well-managed retirement. The workshop includes specialist speakers presenting on a number of relevant issues. All attendees have access to a one-hour personal financial review meeting with the speakers as part of the workshop. This is free of charge.
For more information or to book a place on this workshop visit your CoreHR Portal and search for the workshop under the Training Tab.