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How old will you be when you can retire?
MrRee_2
Posts: 2,389 Forumite
Some workers still have Final Salary Pensions, some very good ones - mainly in the public sector, of course.
I know that firemen retire very young and get handsomely paid off, but most will be facing a long wait.
Thought I would carry out a poll as it seems to be a hot topic. We all know what the state pension dates are (they are moving yes, but still) ....... it's your Company Pension age the poll is for.
The younger you are now, the longer you will have to wait for your pension clearly - but, today, how old will you be when you can draw your Company Pension/s?
I know that firemen retire very young and get handsomely paid off, but most will be facing a long wait.
Thought I would carry out a poll as it seems to be a hot topic. We all know what the state pension dates are (they are moving yes, but still) ....... it's your Company Pension age the poll is for.
The younger you are now, the longer you will have to wait for your pension clearly - but, today, how old will you be when you can draw your Company Pension/s?
Bringing Happiness where there is Gloom!
How Old will you be when you can collect your Company Pension 186 votes
I have no Company Pension, I will rely on the state Pension Only
11%
21 votes
50-55 years
10%
20 votes
55-60 years
16%
30 votes
60-65 years
26%
49 votes
65-70 years
20%
39 votes
Over 70 years
6%
13 votes
Already Retired
7%
14 votes
0
Comments
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I'm nearly 40 now and am planning to retire at 50.
I am making provisions now as I want around 2500/3000 per month when I am retired.0 -
That's a good view to take, New and Improved ...... I did think the same as you when I was 40.
Building up a provision of £3000 a month income in todays climate, over 10 years is going to take some serious finacial planning, and some serious investments.
I'm guessing that you will not be able to do it, but it's a great dream!Bringing Happiness where there is Gloom!0 -
Why nothing less than 50?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Because few people will be retired fully and collecting a Company Pension at 49 or younger ...... the actuarial reduction will see to that (leaving a 65 age company Pension at 49 would mean the reduction in ones pension would be 80%!) - so, a possible Pension of say £30,000 would be paying out just £6000 a year - not possible to live on that I would suggest?Bringing Happiness where there is Gloom!0
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I don't plan to retire fully until well into my 70s and hopefully into my 80s.
Mrs Generali's Grandma is still working aged 91! She does very well on it.0 -
New_and_Improved_Me wrote: »I'm nearly 40 now and am planning to retire at 50.
I am making provisions now as I want around 2500/3000 per month when I am retired.
Does that include or exclude state pension? Presumably that is 3k in 2013 £s? What size pension pot would it take currently to give an indexed linked annuity that size for a retiree aged 50?I think....0 -
I really enjoy my job so I've voted 60-65; that may change as I get older, depending on how I find the commuting and long hours. I think I could technically start drawing my Company pension 9 years from now but I don't intend to do that. I'm working on the assumption that the State pension will be worth very little if anything by the time I'm able to draw it."Save £12k in 2019" #120 - £100,699.57/£100,0000
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Because few people will be retired fully and collecting a Company Pension at 49 or younger ...... the actuarial reduction will see to that (leaving a 65 age company Pension at 49 would mean the reduction in ones pension would be 80%!) - so, a possible Pension of say £30,000 would be paying out just £6000 a year - not possible to live on that I would suggest?
Not everyone has or relies solely on company pensions, if at all."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
I will retire when I feel the time is right.0
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Like most Gen X I will retire only after I have finished paying off the pensions of our boomer overlords, and then managed to scrape together enough for ourselves.0
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