Hi,would anyone have any experience of deciding whether to finish work retire on the grounds of ill health (1 year post stroke),or to take redundancy package?we don't know if there are tax implications to consider,or who we can ask for advice?
Pre stroke I would have known exactly the tax etc, but stroke has finished all that.
I retired at 64 and regret not going at 63. I can not explain why, but we spend much less than expected. The state retirement pension is much higher than I imagined. We live very well and could manage adequately on £20,000 pa for the two of us. Since stroke I spend less. The only extra spend is for taxis and trains for my wife. Pre stroke I would have driven her.
Now I just drive her mad.
Due to stroke, I would find it very hard to do my sums for the future. I would get help. CAB if necessary.
You can get a forecast of your state pension. Do it online or on a form BR19.
Hi Sharon, Why not make an appointment with CAB? There are all sorts of issue around redundancy packages, because what is received counts as income. This has a knock on effect on other benefits as well.