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medically unfit for work

by chrisx 22 June 2012 |

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My husband is 53 and started his new employment in August 2011, unfortunately he had to undergo a major cancer op in which he had a lung removed. He is propbably not going to be able to return to his old job as it is too manual he simply could not do all the running around which is part of the job. Our question is, he has paid into a company pension issued through Friends Provident since the start of his employment, if he were to medically retire would the pension be paid out immediately bearing in mind his short length of service with his employers....thank you

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MikeGG1 posted
Sorry to hear about his medical problems.

With a company pension plan there could be other options available, so he needs to consult the pension people at work to find out what all the options are. For instance, there could be a Permanent Health Insurance policy which will pay out an income until his Normal Retirement Date. That might also pay his pension contributions as well. He would then get his full expected pension from Normal Retirement Date.

If there isn't, then he could take a pension and cash from age 55, unless his expected lifetime has been seriously impaired, but that usually means less than 1 year to go. However, the amount wouldn't be very great for the short service period. It could be classified as trivial, which would mean all paid as cash, subject to tax on part of it.

Good luck.

Mike
Posted on 22 June 2012 | Love 0 loves Report
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chrisx posted
Thank you Mike, as he is only 53 what would be our options then?...we are not able to get any help with council tax/housing benefit as we have just over the limit coming in, the council lost our documentation 3 times, but told us to pay the minimum in rent etc as it would be sorted out...but now we find ourselves 100's of pounds in arrears, all this stress is causing so many problems at a time when we really ar'nt in a position to cope with it. I am nearly 61 and have been looking for work to help out, but at my age its almost an impossibility, my husband cant even re-train as we cant afford college fees....we are truley in a very bad place at the moment added to the equasion we have just recieved a notice of intention to start procedings for eviction.
Posted on 23 June 2012 | Love 0 loves Report
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MikeGG1 posted
The3 pension people at his work are the first place to go. Once that has been established, you will know what, if anything, is available. Apart from the PHI I previously mentioned, there could be critical illness cover.

Mike
Posted on 23 June 2012 | Love 0 loves Report
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chrisx posted
thanks mike.....
Posted on 23 June 2012 | Love 0 loves Report

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