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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Blog | September 2009 (9 blogs) | Pensions and redundancy: how 7 months cost £1m
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Pensions and redundancy: how 7 months cost £1m
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Being made redundant is, on its own, bad enough for most people. However, one senior council employee was allegedly targeted for redundancy because he was below the minimum pension age by seven months. This saved the council the cost of paying out pension benefits. Nearly three years on and two tribunal cases later, the outcome will have some HR managers revisiting who is on their redundancy list and why. See
As an aside, redundancy is one of our most visited topics and in particular the Factsheet about maximising pensionable service for those close to redundancy.
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Mike Jones, MyCompanyPension.co.uk Ltd, September 11th 2009
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