Working whilst collecting pension

chrissie51

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?

atush

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.

chrissie51

Thanks for that stash, that's good news.

atush

Who might Stash be?

AnotherJoe

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.