Retire, semi retire, or keep working???

Macgomez1

LHW99 said:

NI contributions are at the max, no issues there.

Still worth checking, due to the change in state pension calculations in 2016. You could need any number of years NI for a full pension, I think the range on here has been something like 29 through to 49 years!

https://www.gov.uk/check-state-pension - read it all, not just the headline figure, because how many (if any) additional years you need isn't right at the top.

Just checked,  full amount. 
Thanks for the link....

Macgomez1

Kim1965 said:

As you have no db reliable income until sp i would be tempted to work pt. If your expenditure is really that modest a 20 hr week would cover them. Replacement cars/holidays etc can come out of savings. Do you want to leave an inheritance? 

Inheritance 😁😁.
They'll get plenty.... our house, my old mother's house i bought and rent, flat in Málaga, the Rolex....

Macgomez1

HillsideRetired said:

i contemplated the same thing at 57 . when some redundancy came around .. 

for me my thoughts were all about time .(even though i enjoy great health ) and how much time i may have left to enjoy .. basically health over wealth .. 

when i sat down and looked at the numbers it made sense for me to grasp the opportunity and give up work altogether .
now being 60 i don't regret it .. life can be short and cruel .. 
3 years in , i have looked at part time employment , but cant find anything that gives me the flexibility i require of not working .. in essence that job does not exist  , the thought of having to ask someone for a holiday again sends shivers down my spine !!!!! 

Food for thought 🤔 about not suiting you going back to work when you've enjoyed so many years away...

barnstar2077

One good thing about DC pensions is that you can front load them, so you could take £150k over the next ten years, and then just top up your state pension with a greatly reduced amount once you start claiming it.  No one lives forever.  Going part time (in another job, if necessary) is a good compromise though.

It depends what you value more, your time, or making sure that you never run out of money above and beyond your state pension.

It is worth checking your actual state pension forecast though (and not just your NI record) as my brother-in-law realised he still needed an extra year, despite being convinced he was fine by looking at his NI record.