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Pension date

Discussion in 'Retirement' started by hakunamatata2, Feb 25, 2012.

  1. Hi there! I am retiring from teaching at the end of this academic year, 31 August, but won't be 60 until the beginning of October. Would I be best to defer taking my pension and lump sum when I'm actually 60, or would it not make much difference if I took it from 1st. September?
    Thank you for any advice.
     
  2. Hi there! I am retiring from teaching at the end of this academic year, 31 August, but won't be 60 until the beginning of October. Would I be best to defer taking my pension and lump sum when I'm actually 60, or would it not make much difference if I took it from 1st. September?
    Thank you for any advice.
     
  3. Dunteachin is absolutely correct. By taking your pension just a few weeks early you will only lose a couple of pounds but you have the advantage of doing as much supply as you like without being penalised. If you wait till you're 60 the supply you can do is limited.
     

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