Early retirement?

[leesider29]

my old man is looking for early retirement pension after being made redundant last December, he is 56 and due his full pension at age 62. The trustees have turned his request down, would it be worth his while going to an ombudsman for pensions?? the same company btw are involved in a 40bn dollar merger which begs the questions why can't they cover a few pensions, after all it was their fault for not investing the funds in a proper manner and converting them to liquid assets at an early enough stage. Probably clutching at straws would appreciate any input.

Thanks,
Leesider29

 

[Verdun]

I think early retirement depends on the rules of the company, so it might be hard to get around that. It may be different now that he has been laid off.

 

[leesider29]

They said it is up to the trustees and I know that but I suppose the real question is, is it worth going to the ombudsman?

 

[StevieC]

They said it is up to the trustees and I know that but I suppose the real question is, is it worth going to the ombudsman?

You can but I dont think it will get you very far I am afraid. The scheme rules were part of your fathers terms and conditions. When he agreed to join the scheme, he effectively agreed to those terms and conditions. Pretty much all occupational schemes only allow early retirement with employer approval.

I'm open to being corrected but I dont think there is anything you can do in this case.