The university has reopened the voluntary redundancy scheme after saying that there will be no further forced redundancies. It looks like they have increased the payout to 3 weeks pay per year or service instead of two. My simulation shows that it would be a breakeven until the end of 2028 under the assumption I work full time in 2026 and half time in 2027 and 2028. In addition, I now know that I will get a UK state pension. Using the 4% rule, that means I need to save AUD 1/2 million less than I would otherwise need to.
We don't need to reapply if we applied previously. My previous application was approved. But I said no. So, maybe I can say yes now. Technically, I would be retiring early as I am younger than 67, even though I can get a tax free pension from my superannuation.
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