ATCO early retirement..have you taken it? How was it for you?
 

Right peeps,

The title says it all.

I am getting to the age where it will become an option. I have MOSTLY decided what I want to do. Has anyone else considered it?

What are your reasons for it?

What would persuade you to stay on?

:)

We used to have early retirement,but not anymore.:\
But I can tell you,those who chose when it existed never complained or wanted to get back. But they all also got other positions within company. So they keep their salaries +/- and got pension. There is no need any more to pass medicals,assessments,language testing, etc. Most of them don't have to do shiftwork or night shifts. But the most important they don't have any responsibility anymore.:}

I have only second hand info but, if you're talking about retiring from working, as opposed to retiring from operational ATC but continueing to work, a friend of mine summarised it thus: as soon as you change your maths calculations from working out how much money you would "lose" by retiring early, to working out how much money you need to maintain & support the lifestyle you want to live...you'll probably retire the next day! That's what he did, & he hasn't looked back, since.

I'd say early retiring was the best career move my dad ever made...albeit he has health issues one would expect at his age, he's healthier & happier than I ever recall him being when he was working. Dieing in harness is no reward, as far as I'm concerned; I aim to follow his example, for possibly the first time in my life :)!

I left NATS at the age of 55....great idea. However, I was in the position to sell myself back to the company as a contractor............loads of advantages there, until I had repaired the hole I made in the lump sum.

As said above, no medicals anymore, worked by agreement (when I wanted to), no issues over annual leave, and best of all, not having to put up with all that corporate crap.

Finished altogether now, now regrets, not one.

Basically iof you can afford it, go for it. Enjoy your hobbies while you are still fit and healthy. What is the point of having more money at 60 or 65 if you cannot use it ?
As a friend of mine use to say, a shroud has no pockets.
I went at 55, continued to work one week a month for 3 years on safety projects (where I could choose the days and hours ) .That was great as well .
Never regretted a single day..

I retired just after I became 58. For the previous year or two i worked part-time (4 on 6 off). I'm glad I went early because it meant more time with my wife. However, there are certain aspects of the job I still miss but nowhere near enough to regret what I did. If I had my time over I'd go earlier!

I wasn't an ATCO, but I took the EG at age 52 so that I could get a life.

I can only echo what alfaman and HD have said - but you have to bear in mind that you're going to be on that pension for a hopefully long time, so start wearing out that copy of Excel right now and don't make any decision until you've looked at EVERY possible contingency.

Do I miss the job? Ho Yus, I got to work with some very talented people, and also HD (just joking B!!). The job, sure I miss it, but do I miss the 'politics' and mis-management (which ranged from the incompetent to the downright unacceptable)? Not a jot.......

Thanks M!! Guess you'll be hollering for the wrong team tomorrow...

I retired at 50 with no enhancement. I took a tremendous hit on the pension and lump sum, but at the end of the day it is only money.

My personal quality of life and physical wellbeing has improved beyond all recognition and I am a happier person for it.

Difficult one, B.

Not many folk I talk to about it say the team have played at all well, but the fact is that they ARE in the final, so I hope they pull a rabbit out of the hat and it isn't too much of a rout.

The sight of me in my Union Jack shorts down at the builders merchants on the day they beat England .... - no, best not imagine that.:eek: But it wasn't pretty.

I would have loved to have gone at 50. Unfortunately the B******* changed the
rules so now I'll have to wait 'til 55! Will miss some parts of the job and the people but not all the BS that goes with it (which has increased tenfold over the last few years especially at that lovely place just up Sopwith Drive). Regards to HD, DC10 and Chevy!

Compulsory with Eurocontrol at 55. However ezxcptions are possible, in the Ops Room if there's a controller shortage but more usually in the Sim. (I was surprised at some of the names that turned up there. Maybe a case of who, not what, you know.)
I walked free medically at 53 and was invited to come back "just as a Supervisor, not a Controller", a request I was very happy to turn down.
By 55, you're starting to slow down, mentally and physically. Canteen meals rot your guts and trying to get any rest on a night duty is impossible unless your employer has built a five star hotel next to the Ops. Room.

I left at age 51 with an ATSA VR offer. I also took an early pension option, cleared my debts, paid off my house, and decided never to work for anybody else ever again. And like DC10, I'm not worried about how much more I may have had if I had stayed on to the bitter end. Regrets? - none whatsoever! No up-at-stupid o'clock; no office politics; no work induced stress; no worrying about annual leave, sick time off work, w&nker management etc etc etc - lovely jubbly!

Its easier than you may think to adjust your lifestyle and spending requirements to a lower monthly income if you really want to, but you have to be 100% comfortable that it'll work for you.

I've yet to meet anybody who has taken early retirement from any walk of life and later regretted their decision. It was always an ambition of mine to try and achieve an early retirement date without it being down to poor health or going to prison :ooh: and I am pleased (and grateful!) that this is one particular ambition that has now been fulfilled.:ok:

There seems to be a pattern here. I went at 57 and have not regretted it for one second, like the others I miss the people but not the BS, I am doing something I have wanted to do for years, ie live in the sun not rainy Cheshire! My basis was that the pension was the bedrock it will arrive every month so if you can afford to live on that the lump sum is a big bonus.

401

My case and attitude is very similar - right age, birthdate, scheme, employer, etc, it all came together very nicely. Seems to be a few categories of people who choose to hang about;

- Some people stay in for the income, slaves to their disposable - mortgage, a younger family perhaps - personal imperative circumstances, fair `nuff.

- The affluent retiree aspirant - "ooh, I couldn`t possibly retire on less than [insert obscene amount of annual income here for sitting on one`s bottom]" - strokes for folks. A lifestyle trade-off choice. Possibly work till you drop then. Go for it...

- Others innately have an ongoing interest in their job and location, whether operationally or in a support role eg instructing - if one is happy with such a paid hobby arrangement - enjoy, if it floats your boat...no sarcasm, I mean it genuinely.

- Have heard of some people significantly older than I being quoted as saying - "naah, won`t leave yet, don`t know what I`d do with my time" - riiiight.....

I`d had enough of the shiftwork, the evolving corporate and industrial direction, had a chance to bail - no agonising over the decision and certainly no regrets since. And I sure as hell don`t wake up in the morning scratching my head muttering "Hmm, what am I gonna do today?"

Given a few (preferably less-than-expensive!) pastimes, a debt free situation, preferred lifestyle end-state location, a presentable package/pension - it`s not too far off winning the lottery by the standards of many people "out there"!

As a good friend has said over many years in relation to life choices and decisions, and I stress without introducing any suggestion of rampant hedonism - "You`re dead a long time".

No gloating BTW, just a very large grateful sigh - left behind a lot of good people who won`t be able to avail themselves of the option I had. Lost count of the "you lucky bastard!" quips whilst shaking hands around the room on the last day, that was probably the worst part of walking out the door for the final time...

Went at 49, biggest reason was to get away from shift work. Actually enjoyed the job but the swing, swing, day, day, mid was taking a toll. I don't regret it at all. The actual monetary reduction was not that great. In the US when you get rid of AMT, lower tax rate, regain credits and being allowed to write off rental losses on income under $100,000, my monthly net was only around $2000 less. Plus like others mentioned there is a big demand for experienced ATCO's for consulting and other programs. If you want to work further that is not an issue and you can do it on your own terms. Plus, most of my friends went at the same time and we have plenty to keep us busy. Unfortunitly, it seems the opportunity for ATCO's and pilots to retire early in the future will be greatly reduced.

I was made an offer I couldn't refuse at 54, never worked since!

The income took a bit more of a hit than I planned, but lower tax brackets and less deductions helped.

Best thing that ever happened.

ex-egll

I got my medical 'early go' a few months before I was 54. This meant with LOL I was not much worse off. The saving on commuting offset the drop in income, and after a time all my neighbours remarked that I seemed much happier and looked more healthy.

I must confess that the thought of Low Vis etc at LL every winter until 60 was daunting and I'm pleased to say that I think I got out before there had been too much deterioration in the grey matter! As I didn't join until age 27 I would have had to go to 60 to get a decent pension and was dreading it!

AND, I didn't have to work with MinestheChevy any more! Sorry Mick!

The late Bobby Cowell went at 52, and despite taking a big hit in the pension never regretted it. R.. D..y went at 56 as did B.. H.....r and they love retirement.

Lots of my pilot mates stopped at 55 and none has any regrets.

I was medically retired age 52. Crohns Disease. CAA Medical Branch were not happy about the amount of medication I am on.

Since then, 8 years, I have never been fitter. No more getting up at half past stupid o’ clock. Regular hours, meals etc. It all helps.

Ok, I still have the Crohns, but it is manageable thanks to my new lifestyle.

There has not been a single day that I have woken up & thought, I’m bored. What am I going to do today. It just hasn’t happened.

I have written my autobiography and there is just not enough hours left in the day. Don't know how I fitted work in before.

I would say to anybody if you get the chance of early retirement, go for it.

I do miss my colleagues at work, but I don't miss talking to the kites. We had a great larf.

What I don’t miss also is the inadequate, inept, downright useless excuses we had called Management. Shocking. With one or two exceptions the whole tawdry lot were a disgrace.

Clint. :ok::ok:

Hear Hear Clint:D:D:D

Keep taking the red wine for the Crohn's.

Brian W