Why has BP introduced the concept of employer consent for early retirement?
Subject to employer consent, the new standard voluntary early retirement terms of 3% a year for each year your retirement is below age 60 apply to employees retiring from service, and are more generous than the terms that apply to deferred pensioners taking their deferred pensions early. Employer consent is therefore required to ensure a smooth and effective handover of key aspects of your work.
Related Questions
- I understand that early retirement is age 55 with 5 years of service, however what if I would like to retire at age 62. Can I do that or can I only retire at ages 55 or 65?
- I want to retire before age 59. How do I avoid the 10% early distribution penalty on retirement payments from my 401k?
- What are the eligibility requirements for early age retirement?
