Can a company impose a six month contract on prospective retirees?

Answer 1

I am not a lawyer nor an attorney NOR do I work in Human Resources but I do work everyday with contracts.

A CONTRACT is a written agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as "consideration" that is enforeceable by law in the courts. The existence of a contract requires finding the following factual elements: a) an offer; b) an acceptance of that offer which results in a meeting of the minds; c) a promise to perform; d) a valuable consideration (which can be a promise or payment in some form); e) a time or event when performance must be made; f) terms and conditions for performance,and g) performance.

It is a known fact that some employment contracts, regardless of age may have probation periods that are CONDITIONS of employment. Thus, it behooves an applicant either looking for a job or if given a written job offer with any CONDITIONS whatsoever to carefully review and analyze whether it is in their best interests to pursue or accept it with their written signature.

Bottomline, it comes down to SUPPLY and DEMAND and which party has LEVERAGE. That is, in a tight job market with many quick applicants, the employer carries the club and can most likely get the best applicant at a reasonable rate bec securing a job with recurring salary is a grateful gift. If job openings on the other hand are plentiful and not enough applicants or too many vacancies, an employer of course must lower their standards and expectations or decide what the worst case scenario will be etc.

Best of Luck and Hopefully I was able to answer your question with enough understanding as a Neutral 3rd Party...

Answer 2

I am not clear what you are asking. What to you mean by prospective retiree? What it is the purpose of the contract?
If you are talking about an offer of early retirement say on full pension then the company are making an offer of some value (that of course is consideration) If this is the case then they are entitled to make some sort of contract. Strictly you cant "impose" a contract because if must be agreed by both sides and if one side does not agree there is no contract.
Just for the record a contract does not have to be in writing most are not. consideration must be of some value but not necessarily of great value. The classic case involved some promotional vouchers which were nominally valued at 0.01 of a penny. One side argued they could not represent consideration as they were almost valueless but the court said even a tiny value is still value.

Answer 3

Your question is not clear. If this is a employer/employee relationship, then either party can sever the relationship at any time for no reason. A contract might state a given amount of notice - like two weeks, for example - but it would seem that a contract would give both parties more leverage. In six months, you can both renegotiate. You might want to ask for more money or better hours. That also gives you six months to look for a place where you might feel more appreciated for your experience and the good things you have to offer.

Answer 4

Not absolutely sure of what you mean.What sort of 6 month contract? Is it an extension of your working for your company beyond your normal retirement date,whereby the company limit your extended service to a 6 month period..Would you take your pension on top of a salary?There might be an entirely different reason for your question, if so I am sorry if I have missed the point.

Answer 5

the difficulty precise now's the authorities and Federal Reserve could use "innovative accounting" to tutor inflation isn't occurring. the reason being the authorities borrows with the aid of merchandising Treasure securities at a fastened interest. Admitting inflation motives the interest to strengthen, and larger interest on a $14 trillion debt could be a catastrophe. That of coarse potential no COLA strengthen with the aid of fact of no inflation. base line is they're masking their very own buttes, on the fee of human beings that decide for the upward push. insurance firms can certainly tutor inflation and larger expenses, so as that they get authorized for fee will strengthen

Answer 6

You retire, or you don't.

The company pay you a pension, or they don't.

The pension is open to negotation. Once settled, that is it.

I have never heard of a contract on a retirement.

Get a good lawyer if you are in doubt. Charge your employers his/her fees.

Answer 7

I wouldn't think so, not if you reach the age of retirement first. But there is a doubt in my mind, why not try the citizens advice bureaux

Answer 8

What are the terms of your Pension Deed ?

Answer 9

I don't think so.