Early retirement, you'll be lucky

[miggy]

GP crisis set to worsen as 51% of family doctors plan on retiring before the reach the age of 60 | Daily Mail Online
Can we all retire at that age? I haven't got long before retirement now.

 

[Joe Noodles]

I can retire @62, only 32yrs to go
if you have a private pension i guess you can retire early?

 

[miggy]

I can retire @62, only 32yrs to go
if you have a private pension i guess you can retire early?

If you have a private pension the DWP will know and calculate how much less they need to pay you to live on. Slimy sods.

 

[avid]

I thought to get the full basic State Pension you needed a total of 30 qualifying years of National Insurance contributions or credits. I didn’t think a private pension would affect this and nor should it.

 

[nara]

I thought to get the full basic State Pension you needed a total of 30 qualifying years of National Insurance contributions or credits. I didn’t think a private pension would affect this and nor should it.

You're right, you get the full dwp pension whatever, but it counts towards taxable income if you have a private pension also.

(old farts know about these things).

 

[wizbit77]

Yep.
Pay tax as you earn it, then pay tax as they dripfeed it back to you.
Bent system

 

[dar1437]

I honestly think I'll be dead before 67.

 

[Joe Noodles]

I honestly think I'll be dead before 67.

I`m hoping i go before that myself

 

[dar1437]

I`m hoping i go before that myself

Lol, i wouldn't mind a long life if i was happy, but I've been fed up for the last 30 years, and now arthritis is creeping in and it's only going to get worse. Such is life haha (I've still got a sense of humour. I learnt to laugh at my own misfortune at an early age)

 

[bilabonic]

I finished with Tata Steel after 21 years @ 42 years old (done 4 Elec Eng app, ONC, HNC, HND, Degree)...

Made a LOT off BTC, got into property, voluntary redundancies came up and i left with a lumper/nice pension which i can take 25% tax free at 56 rest @ 67 !!!

BEST thing i EVER done !!!!

I did have plans on starting up 'house bashing', my own business BUT got into rentals....

I still get offered to go back in on stupid money with contractors as there are no skilled workers !!

 

[beano2]

I finished with Tata Steel after 31 years @ 57 nice pension its a wonder full life ,

 

[bilabonic]

I finished with Tata Steel after 31 years @ 57 nice pension its a wonder full life ,

You were one of the lucky ones mate, feel sorry for the boys shafted after the Pension vote, a couple of years off going.

Now STUCK working for years longer for less pension...

Loved the place when i started under BSC...Hated it in the end, even though i was on day's/shift rate for years...

 

[albob]

The number of contribution 'years' went up a couple of years ago -- it is now 35....

How many years do you need to pay NI to get £155.65 full state pension? | This is Money

 

[bilabonic]

The number of contribution 'years' went up a couple of years ago -- it is now 35....

How many years do you need to pay NI to get £155.65 full state pension? | This is Money

To be honest i just think as a state pension as a little bonus ! To many young people taking and not paying in.....The funds only allow for another 7-9 years !!

Oh well, that's US working class for you.

 

[miggy]

I finished with Tata Steel after 31 years @ 57 nice pension its a wonder full life ,

Now ain't that just Dandy.