We are being taken over under a TUPE agreement in a year’s time. Some of us have worked for the firm for more than 25 years and are in our late 50’s, and would prefer to retire early. What are our options? Do we have to work for the new firm?
As you’re no doubt aware, under the TUPE (Transfer of Undertakings (Protection of Employment)) regulations your employment contracts should remain the same when you start working for the new firm, so very little should change. However although your pensions are likely to transfer to the new firm in one form or another, any eligibility to retire early may not do. So you should investigate the possibility of early retirement with your current employer and your pension provider urgently.