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part time take pension or not?

Discussion in 'Retirement' started by kinvara, Feb 26, 2012.

  1. I'm due to retire next year but think I might work part time after I'm 60, if my Head will let me. I wasn't going to apply for my pension at 60 but wait till I give up work, because i will only have approx 25 years service. However, it has been suggested that I should take the pension at 60 and then carry on working. Apparently that was the advice given at a retirement meeting I went to but I don't recall this at all. Anyone got any advice?
  2. I was asked if I would like to do this, its called phased retirement. I noticed that it is always on the bottom of my payslip, sure if you google the phrase the information will come up. Might just be what you want.
  3. Be careful about taking your pension after you are 60 and then going part time as you are only allowed to earn a certain amount, anything above they deduct from your pension. This does not happen if you take your pension before you are 60 (ARB) or take phased retirement. If you carry on past 60 you will continue to add to your pension but don't take too long or you may not live long enough to get it all back!
  4. Thanks. thast's what I thought FrankoFile. ~I need to get my head around this../

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