Tier 1 medical retirement
I medically retired last year from LGPS with a tier one pension. I enquired if I was able to gain paid employment and what effect it would have on my pension. My old salary was 30k. My current pension is 12.6k. Does this mean I would need to earn less than 17.3k to stop my pension being reduced? The reply from pension provider is below.
You cannot be better off after receiving tier 1 benefits, therefore we would compare your old salary VS your new salary + pension in payment. If your new salary + pension is higher, you could lose all the enhancement on your pension which is £6307.82pa.
Until we know all of the facts including salary and employer details etc, we would not be able to determine exact amounts of the impact.
You cannot be better off after receiving tier 1 benefits, therefore we would compare your old salary VS your new salary + pension in payment. If your new salary + pension is higher, you could lose all the enhancement on your pension which is £6307.82pa.
Until we know all of the facts including salary and employer details etc, we would not be able to determine exact amounts of the impact.
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