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Retirement

We are committed to equality for all our employees and recognise and value the contributions of a diverse workforce, including the skills and experience of older employees. The University believes that employees should, wherever possible, be permitted to continue working for as long as they wish to do so.

Retirement Procedure

If an employee has decided that he/she wishes to retire, he/she should inform their line manager in writing as soon as possible giving at least as much notice as is specified in his/her contract of employment. This will assist the University with its succession planning. The line manager or HR will write to the employee within 5 days to acknowledge receipt of his/her notice to retire.

The employee will be invited to a meeting with his/her line manager to discuss arrangements for retirement, including the intended retirement date, succession and handover plans as well as any particular support needs the employee may have.

Workplace Discussions and Retirement

Employees may approach their line manager at any time to discuss their future plans, which may include retirement.

In addition, employees and line managers will have the opportunity to discuss the employees future plans, including short, medium and long term goals and career aspirations, annually during the Staff Development and Review. During these meetings, employees may discuss their future plans or proposals for retirement if they choose to do so. A record of the discussion will be agreed and a copy given to the employee.

A discussion about possible retirement will not result in the University making any assumptions about the employees commitment to the University. We seek to retain the best talent, including older employees. Workplace discussions are an informal opportunity for both the University and the employee to plan jointly for the future.

For further information or an informal discussion about early, flexible and phased retirement options please contact your HR Advisor.

Pensions

Employees are advised to consider their pension provision and take independent financial advice before making any decision in relation to retirement.

The University currently offers two pension schemes for its employees. The Teachers Pension Scheme (TPS) for academic staff and the Local Government Pension Scheme (LGPS) for professional services staff. Before making a decision on when to retire, employees are advised to check with their pension provider to ensure they meet the scheme rules and are eligible to begin claiming their pension. The employee should also be aware that he/she may need to allow several weeks for his/her application to be processed before he/she can begin claiming his/her pension. HR normally advises allowing up to 60 days. For further information please contact either the TPS or Avon Pension Fund directly.

Teachers Pension Scheme

For a range of calculators offered by the TPS, click on the following link for the TPS Calculators or register with My Pensions Online to request an estimate of your retirement benefits based on your actual service and salary details.

Local Government Pension Scheme

For an estimate of pension benefits from the LGPS, click on the following link for the Online Benefits Calculator.

Finally, for further information about Employer Discretions Regulation 18 (Flexible Retirement), which may be of interest to eligible employees who wish to seek the University's permission to access their pension benefits whilst remaining in employment.

Courses and Other Support

The University will fund the attendance on an approved pre-retirement training course for those staff planning to retire, subject to an application for funding. For help with finding a course, please click on one of the following links or contact the HR department.

Bristol and District Retirement Council

Laterlife

For further help, advice or support on planning for your retirement, why not contact Lifeworks, the University's employee assistance programme provider. Their website contains several useful factsheets on a range of issues from financial planning to adjusting to life without work. The username and password are on the membership card you received or can be obtained from HR.

Retirement with 20 Years Service

Employees with 20 or more years service when they retire will be entitled to a retirement award. Please follow this link for further information on Long Service Awards.