Due to retire at end of April

redmalc

Good Morning All
i am due to retire in three weeks time at the age of 68, I am financially secure and have enough in the tin to live without touching my private pension.
i have been a partner in the company for a long time and have clients who I have serviced for years, the company have asked me to go on a zero hours contract because I had said if required I would accompany my replacement the odd day a month when he visits people I have dealt with.
i am looking for help on this matter to enquire what disadvantages this could cause me ,if any or benefits I may get . I don’t envisage working more than 1 or 2 days a month.
thank you 

Wyndham

If you don't need the pension, why do you think you'd be claiming benefits?

You'd probably need to fill in a self-assessment form each year (you may already do this) for the income - unless it will be taxed at source by the company.

Other than that, I think it would just be some nice extra income.

marcia_

redmalc said:

Good Morning All
i am due to retire in three weeks time at the age of 68, I am financially secure and have enough in the tin to live without touching my private pension.
i have been a partner in the company for a long time and have clients who I have serviced for years, the company have asked me to go on a zero hours contract because I had said if required I would accompany my replacement the odd day a month when he visits people I have dealt with.
i am looking for help on this matter to enquire what disadvantages this could cause me ,if any or benefits I may get . I don’t envisage working more than 1 or 2 days a month.
thank you 

 If you have a pension you don't need presumably you have savings? Meaning you might not qualify for any benefits 

Flugelhorn

which benefits are you thinking of ? otherwise it is just a case of extra taxable income 

njkmr

Your retiring and financially secure.
Why on earth would you consider doing the odd day of work.
Enjoy your hard earned money and do stuff that work may have gotten in the way of for the last few decades.
Travel, treat yourself. Anything but work ...!
Enjoy.

Marcon

redmalc said:

Good Morning All
i am due to retire in three weeks time at the age of 68, I am financially secure and have enough in the tin to live without touching my private pension.
i have been a partner in the company for a long time and have clients who I have serviced for years, the company have asked me to go on a zero hours contract because I had said if required I would accompany my replacement the odd day a month when he visits people I have dealt with.
i am looking for help on this matter to enquire what disadvantages this could cause me ,if any or benefits I may get . I don’t envisage working more than 1 or 2 days a month.
thank you 

I think people may have jumped to the wrong conclusion about your use of the word 'benefits'. I'm interpreting it to mean that you are asking what benefits you could get as a zero hours contract employee.

Statutory annual leave and pension contributions are the two obvious ones, but depends entirely on the terms of the contract you negotiate.

EnPointe

redmalc said:

Good Morning All
i am due to retire in three weeks time at the age of 68, I am financially secure and have enough in the tin to live without touching my private pension.
i have been a partner in the company for a long time and have clients who I have serviced for years, the company have asked me to go on a zero hours contract because I had said if required I would accompany my replacement the odd day a month when he visits people I have dealt with.
i am looking for help on this matter to enquire what disadvantages this could cause me ,if any or benefits I may get . I don’t envisage working more than 1 or 2 days a month.
thank you 

if you have suffficient savings to live off without  touching your private pension i'm not sure what Benefits you  think it might impact on  as the stuff like pree prescriptions ( and other  NHS  things which are free  asa Pensioner)  and your Twirly travel pass  are  down solely to your age 

redmalc

Marcon absolutely correct, like I said it’s not really about the money it’s a matter of the couple of days difference a month 

EnPointe

redmalc said:

Marcon absolutely correct, like I said it’s not really about the money it’s a matter of the couple of days difference a month 

as a Partner soon to be Emeritus ( or will you retain a Equity  share ?)  it's surely  you'll be in a position to set your day rate  ( and  minimum 'call time' )  and also how / what your relationship is  organised with the  business   contractor / employee/ casual 'worker'  which many have implicatiosn in terms of  tax treatment  etc
 

Elliott.T123

The short answer is:

Benefits:
More money coming in
A reason to get out the house a few days a week and keep the brain active

Disadvantages:
Taxable income
Less free time to be enjoying your retirement

You have said money isn't a factor so you can rule that out (and most likely rule the tax out)
So ultimately it comes down to are there other things you would rather be doing with your time in your retirement?

No right or wrong answer to this, all down to personal choice.

Also agree with Macron, everyone has jumped at the word benefits thinking the Op means state benefits, I read it to mean benefits to the Op's life by choosing to take the work.