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retiring, who do i need to tell

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hi,
i'm going to retire next month, (going early,got fed up with work)
who do I need to tell
how will the state know that i'm retired, do I have to sign on the dole
got at least 35yrs of NI contributions in, so that should be ok
any advise please

Comments

  • R_P_W
    R_P_W Posts: 1,523 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    How old are you?
  • gamston
    gamston Posts: 693 Forumite
    Part of the Furniture 500 Posts
    I'm 56yrs old, so retiring early
    think I should have gone a few weeks ago as the stock market has gone down and taking my pension with it
  • p00hsticks
    p00hsticks Posts: 14,440 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    if you mean that you are simply becoming "economically inactive" - not working but simply living off savings (or OH) then you don't really need to tell anyone - "the state" doesn't really need to know (on an individual basis).

    If you wish to start claiming a private pension then obviously you need to tell your pension fund that this is what you want to do.

    If you are not actively looking for another job then you do not fulfil the criteria to "sign on the dole" (claim Job Seekers Allowance).

    If you are going to be living off your savings and your total income for the year is going to be less than your tax allowance then you should consider filling in an R80 form for each of your savings accounts and passing in to the relevant banks / building societies in order to get the interest paid gross.
  • gamston
    gamston Posts: 693 Forumite
    Part of the Furniture 500 Posts
    thanks
    i'm going to live off my company pension, may look to see if I can get work for 1 day a week as a contractor to railway, but not thinking about anymore than that
  • Little_Mo_70
    Little_Mo_70 Posts: 417 Forumite
    gamston wrote: »
    hi,
    i'm going to retire next month, (going early,got fed up with work)
    who do I need to tell
    how will the state know that i'm retired, do I have to sign on the dole
    got at least 35yrs of NI contributions in, so that should be ok
    any advise please

    Any insurance policies you have: eg: car/home etc. Mortage providers or letting agents too. Basically anyone with whom you have some sort of agreement where your occupation has been declared.
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