Perhaps but the policy was not surprisingly well received by the over 60s. Cognitive decline is more noticeable when under stress or fatigue etc. Being on call for emergencies is actually quite onerous.
In the public hospital it was less than $10/hr to be on call as a VMO. If you get called back you get paid but no minimum call back hours - 1hr worked is 1hr paid. Though there is a slight loading of 25-50% for overnight. So no such thing as double time and minimum 4hrs callback.
I retired from my 35y+ career job in 2006, just before turning 57. It was a couple of years earlier than my initial plan, but I decided to decline a request to transfer to Canberra and the finance manager had used my success in obtaining grants to try to screw just that bit too much in the next cycle, which ended in rejection, as I had predicted.
A mate of mine, whom I had some collaborative work with in his big international company, had left there a couple of years previously to start his own business and it was growing nicely. So I jumped to that on the proviso of six weeks annual leave, so as to continue and expand my annual DONEx experiences.
As we recruited more young people and they started stepping up, I dropped back to 4, then 3, days/week.
At the outset, I told my mate that my continuation was open-ended, subject to health.
So, following a prostate cancer diagnosis in 2011, I dropped back to working casually. As it turned out, the monitoring 'active surveillance' regime showed that the low-grade/small focus PCa didn't require treatment until the grade changed in 2018 and out it came.
Meanwhile, my DONEx's had grown in duration to be more around the 12-16 week mark, with various additional point-to-point trips using points redemptions mostly for EK F & J and QR J flights.
So, very much a phasing into retirement, which I think is key. The last bit of casual work was as recently as 2021, so in my early 70s.
Covid was not so challenging in WA. I bought a 4WD early in the piece and did a huge amount of travelling within the large land area open to us, so I can't complain too much about that, albeit having to cancel a big DONEx planned for 2020.
I omitted to mention in my retirement 'journey' that after leaving my career job I also got an ABN and did bits and pieces of consulting over the years of phasing into retirement.
Nothing to onerous or lengthy that would tie me down and reduce flexibility, but it opened further options in the phasing-out scenario. I cancelled that a year or so ago.
Also, two grandies and another on the way makes for another distraction in retirement.
Considerably younger than me, PJM is steadily phasing out, having worked four days/week for the last three years and going to three days/week next year. Fully retiring at the end of next year is the plan.
Then I won't have to organise our travel according to school holidays. Some big travel in 2026 has recently been locked in.
Next birthday is a big zero for MrP but I know he will still be working. HE also knows that he needs to check our travel plans on TripIt before making any significant consulting contracts. If he hasn't and there ends up a conflict then he knows it won't be my cancellation at play but his.
How did those with big LSL build them up so much? Are there awards or industries that accumulate at a higher rate than the common 13 weeks / 15 years? My company wouldn't allow me to do the half pay, twice as long thing.
How did those with big LSL build them up so much? Are there awards or industries that accumulate at a higher rate than the common 13 weeks / 15 years? My company wouldn't allow me to do the half pay, twice as long thing.
CoA was/is 3 mths after 10 years. When I started in the corp world, the company being National adopted the CoA standards. Also, rules changed over the years that allowed you get paid out after something like 7 yrs?
How did those with big LSL build them up so much? Are there awards or industries that accumulate at a higher rate than the common 13 weeks / 15 years? My company wouldn't allow me to do the half pay, twice as long thing.
NSW Health has 2 months after 10 years then, then 5 months per 10 years after that. Some complexities around part-time work accrual. Not uncommon for people to clock-up 40 years service in Health.
Taking at half-pay is part of award which has tax-advantages but you also go on accruing annual (which is near neutral) but more importantly sick leave if you develop issues during LSL. Sometimes tricky to replace staff when they are still 'on the books' though the LSL money is quarantined
The pension age fhas changed 5 times since I got my first job, anyone who thinks it will be below 70 by the time I turn 70 is seriously delusional.
2013: The pension age for women was raised from 60 to 65
2017: The pension age increased to 65 years and 6 months
2019: The pension age increased to 66 years
2021: The pension age increased to 66 years and 6 months
2023: The pension age increased to 67 years
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We just finish up something and move onto other things. A bit like many of the Test team are bout to face as they age out….
There’s always plenty to keep the mind active. However, the power you once had evaporated when you walk out the door… so if you need the power surge then well yeah nah
You name it someone will do it
hobbies
Blogging (like here)
Secretarial roles (strata, sports, clubs, companies, charities, service clubs, political parties, boards)
ABN small businesses
Investor
Speculator
Gambler - run for politics in a non-winnable seat…
Exercise (gym, bike riding, marathons)
Religion & Bus driving
Antique auctions
Trophy partners
Did I say AFF travel ???
Travel to follow a passion (Perth for the cricket etc)
Youngest from the baby boomer well I saw quit work early was 42 and that’s cause he wasn’t married, didn’t live in Sydney and inherited his mothers house in a fancy dancy inner suburb…
The younger generation appear to be able to quit work even earlier than that (see FB reply earlier up-thread). My son knows one of who’s a young millionaire Orf Crypto and another a professional soccer player in the EPL and Socceroos)
Interestingly the recent AFR Under 40s Rich Losers was filled with those who profited from apps and acquisitions of their “baby” to the highest bidder - only one property developer and one inherited family company, a bag of NBA ballers plus S Smith
Finally as for how much you need to live life when paying nothing or next to nothing income tax plus zero support for children who are now adults plus freehold housing is $49,000 - $69,000
Well unless those FF Points are paying their way
Lyons bowled for a duck so the Test here in Perth is almost over
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