I’m planning to retire in three to four years and I was wandering weather I should retire if there is a severance package offered or hold off till the date I desire to retire.
4 replies (most recent on top)
Stay put until they ask you to leave. Think of your increased pension. Relax knowing that your financial security is a reward for your stable loyalty to your family and the company. It looks like you are in a good position in life, why change things?
Stay until your pension amount is what you want. There will be more opportunity for severance.
That's what I did. Didn't take Gretchin up on her offer a few years ago,stayed two more years earning as much as a severance, increased my pension and took the SVS this time. It was difficult hanging out two more years watching the clowns map out the Avanti
Stick around, more Reorgs and severance are inevitable.
There are two parts. Are you mentally ready and the financial. If you can retire with no pension penalty that it gets easier. If you are in a DB plan and you have a early retirement penalty the severance may only cover your penalty so there is little financial gain.
I really think it has everything to do with if you really still enjoy your work vs your plans for retirement. If you have been waiting to retire to pursue something that will make you happy then maybe this is a good opportunity as one can never guarantee future health.
I am in a similar situation with Shell. I could retire right now however I enjoy what I am doing and with holidays and work flexibility I have a lot of time outside work to pursue the things I enjoy. I would rather work for a few more years and develop a stronger strategy on how I plan to fill my time when I retire. We will see how that goes
Retire next year when there’s another round of severance package and start living off that pension you earned. Jobs in oil and gas are going to disappear quickly.
Alternatively you can stay and wait until “that day” when you get sick of working and just have a melt down and give your 2 week notice in a 1 line email.