Flexible retirement is a form of flexible working that allows employees to receive some or all of their retirement benefits while continuing to work for the University.
The arrangements provide flexibility for the University to manage the workforce, specifically in the area of retirement planning. It also allows the University to retain employees on a reduced or different working basis (change of hours, change of level/grade or similar) that is mutually acceptable.
The aims of flexible retirement are to:
- enable employees to balance retirement with their role at the University
- ensure compliance with legislative requirements in terms of enabling employees to have the ability to apply for flexible retirement and to have their applications considered by the University
- accommodate, where possible, the desire of employees to balance their role at the University with other commitments or interests
Subject to pension scheme rules, active members of a relevant pension scheme may remain in the University's employment and continue to build up pension benefits in the pension scheme while drawing some of their accrued pension benefits.
All University employees may be eligible for flexible retirement, subject to the requirements detailed below. Pension scheme rules will determine whether an employee may draw any, part or all of their pension benefits as part of flexible retirement.