I retire at the end of August, aged 60. I will not be eligible for progression to point 3 on the upper pay spine. If I retired a week later, I would be. Is this unfair?
While I sympathise, I do not think it is unfair. You have known for a while that changes to pay scales often occur at the beginning of September. If you’d wanted to take advantage of a higher final salary, you could have asked to work beyond your 60th birthday and retire at Christmas. Assuming your pay would have risen by around pound;1,000 from the extra point on the pay spine, the maximum you will have lost in take-home pension is about pound;6 to pound;7.50 per week.
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