HELP, when can they retire advice

INAMESS

Hi i am trying to find out some information for my parents, my mum is 60 and isn't well enough to work although isn't classed as disabled so gets no benefits, my dad is 65 and on a low wage and works crazy hours, they have hardly any spare money so i am trying to find out if it's possible for him or both of them to retire and still be as well off as or even better off than what they are now (if that makes sense), they live in a private rented house, as they are older and a bit set in their ways they don't want to move and my dad refuses to believe that it might be possible for him to retire, everytime i try and bring the subject up he gets snappy!lol He is also afraid of talking to his bosses at work cos he is convinced they would sack him if he complained about things like the long hours he works etc. Are there any advice places who could help give them an idea if they could retire? Or does anyone on here have any ideas? My mum says they don't want to start the process of retiring until they know if its feasible, thanks in advance....

xylophone

Is your father drawing his state pension?http://www.direct.gov.uk/en/pensionsandretirementplanning/statepension/index.htm
http://www.direct.gov.uk/en/Pensionsandretirementplanning/StatePension/DG_183784

Is your father entitled to a pension from his employer? If so, at what age?

whitesatin

I am 60 and and 7 months old. I will be eligible for my state pension in March 2013. I would imagine your mum would be eligible next year sometime if she has paid full stamp and has 30 years contributions at that rate.

Men's retirement age I don't know much about but I am sure someone on here will be able to tell you about.

Meanwhile, try The CAB for general advice, they will point you in the right direction. Good luck. I know what it feels like to have ill health, albeit at a lower level than many. The thought of still having to teach a class of children right now would drive me to despair. Not everyone is able to carry on working.

CLAPTON

men currently retire at 65.
if your father is already 65 then he is entitled to the state pension whether he continue to work or not.

sleepless_saver

This is really a benefits question which you could post on the benefits board if you don't get responses here.

Anyway, for starters you can check out what their position would be using this benefits checker to try out the different scenarios e.g. father working/not working, what happens when your mother reaches state pension age when she will be able to claim her own pension or a 60% pension of your father's pension amount - whichever is higher.

If your father isn't claiming his state pension yet, he can and should! He can claim it and still work if he wants to. If he wasn't working they would be entitled to pension credit if the only income is his pension. If income is going to be more than just his pension it is still well worth checking. Pension credit could also help with rent and council tax. They might be very surprised!

They can get CAB to help with this if they're not confident using benefits checker.

PS Has your mother actually applied for disability living allowance if she has care and/or mobility needs?

patanne

I think the first step for them should probably be to get a pension forecast from the DWP (request on line). They may be pleasantly surprised especially your father as if he hasn't been taking his pension it has been increasing at 1% for every 5 weeks since he was 65. If they (or you) then put these figures in to see if they are entitled to any pension credit they should get a better picture of what their circumstances will be. Good luck & I hope the picture is not as bad as your father fears.

INAMESS

Thank you for the replies, just to say my dad isnt withdrawing any pension at the moment, i guess what they really want to know is how much money would they get if he were to retire? And would they get help such as rent paid etc? Thanks

xylophone

Try the benefits checker as recommended above after your father has received his state pension forecast?
Don't forget that your mother is likely to be entitled to a 60% pension on your father's NIC record if she has insufficient years of her own.
Read the links I posted above.

sleepless_saver

To summarise:

1. Your father should claim his state pension (to do this, he phones the Pension Service on 0800 731 7898). He can work and get the pension at the same time. He can't get a state pension forecast because he has already reached pension age. From what you say, there seems no reason why he should put off claiming the pension, so why doesn't he just do it? (It sounds like he thinks he would have to stop work - he doesn't)

2. Your mother should contact the Future Pension Centre as she is already age 60, to find out how much her pension will be. She can phone them 0845 3000 168.

3. Once they both know what their position is with state pension (and any other pensions they have through work), they can check their benefits. I gave a link to a benefit calculator in my earlier post. If their income is low enough they will get pension credit, and their rent and council tax paid. Until they know what their income is going to be, no one can tell them whether they will get their rent paid or not.

Hope this helps.

INAMESS

Hi thank you to all those who have replied, one further problem, having told my parents this information it appears that you cannot get a pension forecast if you are still working 30 days after your retirement date, i read this for myself on the DWP website, so can anyone tell me where my dad can get a pension forecast? Thanks

sleepless_saver

I suggest they contact the Future Pensions Centre, contact details in my previous email.