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Working whilst collecting pension

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I am 65 and I collect my government pension, but I still work. I have just be made an offer from a company that pays 3% into a pension pot. As I collect my pension can I still collect that 3% into a private pension, or somewhere else?

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  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Yes, you can. and you will get a pension pot int he future, 25% of which will be tax free.

    And, if with your state pension (I assume this is the pension you are collecting) your new salary is more than you need, you can add more than the 3% into the new pension.
  • Thanks for that stash, that's good news.
  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Who might Stash be? ;)
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    chrissie51 wrote: »
    I am 65 and I collect my government pension, but I still work. I have just be made an offer from a company that pays 3% into a pension pot. As I collect my pension can I still collect that 3% into a private pension, or somewhere else?

    If you mean, are you still eligible for that 3%, then yes.
    If you mean, can you pay it into a scheme of your choosing that depends on the company. I think it's most likely they will only pay that 3% into their company scheme. You need to ask. I will be surprised if they do allow you to pay that 3% elsewhere.

    That shouldn't put you off. Once you are finished with that job you should be able to transfer the whole amount in the scheme to most other pensions and probably one you already have if you do.
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