Don't want to retire

xylophone

Have you obtained a state pension statement?

https://www.gov.uk/check-state-pension

What kind of pensions do you have? DB? DC? Both?

If DB, what is the position regarding "late retirement" ( not claiming pension at scheme NRA)?

Not all pension schemes award "late retirement increases".

Primrose

Not answering your pension query but suggest you google U3A organisations close to your post code. University of the Third Age is a national charitable organisation which has special interest groups for retired people and if you can,t find one which caters to some of your interests I will be very surprised
I know many single people whose lives have been transformed by joining and they have made many new social connections.

zagubov

You should seriously explore the options for working part-time after you retire. You could find a sweet spot where you still remain the social benefits of working without the stress of doing it full time.

In my workplace there are many part-time workers and they throw themselves into the social side of work with vim and vigour, and that's the best way to be.

BobQ

Can you work part time for your current employer?

Do not assume all DB pensions increase because you do not draw it, some do some many not. You can also delay claiming the state pension and that will increase.

Better to retire if you can afford it and then find a part time job or do voluntary work

If you want advice you need to give more information.

atush

Did Teresa May advise you on your retirement planning, based upon her Brexit planning?

Beyond a stupid statement. Makes no sense, and does not pertain to the OP

Dial back on the political rants

blues

Not everybody finds it easy to join groups, make friends etc. and some people can be very anxious in new places, including travelling. I think it's judgemental to question why the OP didn't join groups and develop hobbies before they retired. It isn't always that straightforward.

chucknorris

atush wrote: »

Beyond a stupid statement. Makes no sense, and does not pertain to the OP

Dial back on the political rants

It does pertain to the OP, he has not planned for his retirement at all. It is ridiculous to say:

Bikefar wrote: »

I'm coming up to 65.
As I am socially isolated, I don't want to retire (what am I going to do - watch Jeremy Kyle all day?).

What did he expect to do during his retirement? Retirement has to be planned, just like planning also needs to be done in the event of a no deal Brexit, which doesn't seem to have been sufficiently done either. It isn't particularly a political rant, just another example of inadequate planning.

Actually I think it is you that is being 'beyond stupid', if you can't see the similarity in the bad planning of his retirement and Brexit.

Thorsson

Whatever, the OP is where he is and he can't go back in time and plan retirement now.

Having decided not to retire at 65 myself, although not for the exact same reason, I have some practical suggestions:

1. It is very rarely worth deferring taking a pension - they just don't give you good value. For instance, I checked the SP at 65 and found I'd have to live to around 90 to break even, even ignoring Present Value. If I get there I doubt that an extra few pounds a week is going to be life-altering.
2. My decision was instead to put the same amount into my current pension and save the tax, while at the same time boosting my income for when I do retire.
3. The second thing I did was to move to working part time, 4 days a week. I'm lucky that my firm has a flexible working policy, so this was not hard. I intend to step it down again this year, before I finally retire. If your current firm will not allow this, then look to finding one that will.
4. You now have 3 days free time, so it's time to start working out ways to fill them. Surely there must be something that interests you? Just give something a try. Even a failure teaches us something.

OldMusicGuy

I suggest you just do a bit more reading about pensions and understand how they work. They don't "attract interest" at any stage. You don't have to "retire" if you don't want to. No-one will force you to stop working just because you start to draw a pension (whether defined contribution, defined benefit or state pension). You have many options about how to take the money out or defer taking the benefits.

What you need to do is to make a financial plan for the rest of your life and decide how and when you want to use the income from your pensions. You should set up an appointment with Pensionwise if you have not done so already as they will explain to you what the options are for taking the different types of pension you may have. Get all the details of your various pensions before you have the appointment.

Aretnap

Maybe you could bike further in retirement? Perhaps as part of a club?