New flexible retirement announcement for University staff

Monday, 28 May 2012

March 2012 saw the launch of the new HR Strategy "Working Together: A Strategy for Success", a new and positive agenda for working at the University of Reading.

The strategy roadmap for 2012-13 includes a commitment to embrace diversity by ensuring that colleagues are valued for their contribution to the University regardless of their working pattern and today sees the launch of Flexible Retirement in support of that commitment.

Flexible Retirement gives individuals a range of options as they approach the end of their careers, to help them achieve balance between their home and work lives. It is where a member of staff continues to work, but takes a reduction in salary and hours worked in exchange for payment of a part of their pension. This mix of work and partial retirement can offer an attractive way of tapering towards full retirement.

Members of USS or UREPF can take up to 80% of their pension benefits as long as management approval is given for them to reduce their hours and salary by at least 20%. The pension will be reduced for early payment if it is drawn before the scheme's normal pension age.

Full details of how flexible retirement will operate along with the flexible retirement request form can be found on the HR website.