AVCs versus APCs

jamesd

kbird wrote: »

Do you mean actually finishing work but not drawing the pension?

That's an option. Do you want to do it if you could? You'll need to work out how much you need to live on from now until 66 then find out what you could get from equity release, work out what you could draw on from existing savings and then see whether that looks like a suitable living income. Then, if you wanted to, you'd need to budget for repaying the borrowing once both work and state pension have started.

kbird wrote: »

Obviously, I can't pay into my pension if I'm not working so would I defer it?

Yes, you'd just leave the work pension where it is until normal retirement age.

I don't know whether you could afford to retire now but it's certainly worth looking into the numbers if the idea interests you. Once you have the numbers you can work out when you can afford to retire, with help from us here.