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Discussion in 'Retirement' started by iankelly, Mar 7, 2012.

  1. Dear Colleagues
    Having applied online for ARB last week I am still walking on a cloud feeling great. My school have been very good and have said I can come back for two days a week to cover PPA, which suits me fine.
    However I am not sure if I should start paying contributions again to start another pension.If I do will I have to wait until I am 65 to receive this small extra pension? I am 55 in September and cannot see me working the two days a week for more than 2-3 years until I give up completely.
    Many Thanks
     
  2. lindenlea

    lindenlea Star commenter

    I think it would be a good way of saving a bit while you've still got an income and would give you a nice rise when you're 65. But you might like to find something else to do with the money. That's the lovely thing - it's up to you!
     
  3. You could take the extra pension anytime, subject to ARB. Even if you work less than a year you can apply for an annuity. So its just a matter of deciding if you want a tax free pension contribution of 14.1% from your employer for the extra work.
     

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