When do you think you'll be able to retire from paid work?

[TommyDavo]

The below is what I thought you meant. Defined benefit benefit pension schemes OR final salary schemes are based on years worked, I believe the maximum benefit is 2/3 of your final salary. Good if you can get it but these days most pensions are defined contribution. Dependent on market performance and investment manager investment choices.

Yes, sorry I read a bit. Think that’s what @Eggs has and what BP bought from their staffers ( all of whom were delighted btw). I’m just someone who’s saved a bit and am reliant as you say on the markets. I’m hoping the world is in as much turmoil as it can be to not affect my lifestyle anymore. Get back to you on that

 

[carlos21]

@carlos21

That's me mate.

 

[Armaghtoffee]

That's me mate.

Happy New Year fella

 

[carlos21]

Happy New Year fella

And too you aswell been sick yesterday

 

[Armaghtoffee]

And too you aswell been sick yesterday

Hope you are feeling better lad.

 

[carlos21]

Hope you are feeling better lad.

Soon what you been upto

 

[Armaghtoffee]

Soon what you been upto

Fire lit, binging on Mr Mercedes on Disney.

 

[Librarian]

Soon the robots will take over and we will all be able to retire

Unless the robots use our skins as insulation or decide to hunt us for sport

 

[carlos21]

Fire lit, binging on Mr Mercedes on Disney.

Well done mate you have good Christmas

 

[Armaghtoffee]

Around 55ish for retirement. 10 years away give or take.

While I may be able to do it, I know I will struggle with transition. I think I need a part time role to phase out.

 

[The binman chronicles]

* Looks at pension pot total * Not yet.

 

[mmmmsnouts]

Not sure I want to stop. If I didn’t have anything to do with my time, I’d waste away pretty fast I reckon. Something to keep my mind sharp at least.

 

[Gwladys St. Glory]

I walked away from work 24 months ago.

Career wise, it was the best thing I ever did. I was still perfectly capable of doing the job well, but the motivation had gone. Obviously I took a bit of a hit financially, but simple pleasures, such as being an annoying [four letter word] are cheap.

If you're in your 20's, 30's or 40's and able to put a few quid away, then I'd recommend you do so. When you get to your late 50's, it's great to have the choice on how much, if it all, to work.

This subject came up a little while ago and yes, what you want is the choice. Have had too many acquaintances/relatives who couldn't wait to throw in the towel, only to go back a couple years later, luckily due to boredom and not need...big difference.

 

[anjelikaferrett]

I have a countdown on my phone. Currently at 2 years 3 months and 24 days. I will be able to access my employer pensions then but won't get state pension for about 18 months after that. The countdown is to full retirement but I might reduce my hours before then.

 

[ically]

Definitely 67 for me,
I had 3 kids and a family to feed, there was no way I could afford to pay into a pension and only at aged 50 I started to put into a private pension which when matures won’t be worth a carrot,
We’re just part of a game at our expense, especially home owners, what’s the point?
It really was the greatest con of all time owning your own home.
should you manage to retire and are in good health, in retirement there’s a good chance you will have to buy new windows, kitchen, bathroom etc….
I’m planning on selling the house before I retire , private renting for a couple of years, till I get to an age where any monies left are below the threshold to qualify for social housing.