Retirement and pensions is it worth it

MallyGirl

On the other hand I have wondered about a bit of adhoc work like exam invigilating. If I did a bit of that once retired I would still think of myself as retired.

Cus

MallyGirl said:

On the other hand I have wondered about a bit of adhoc work like exam invigilating. If I did a bit of that once retired I would still think of myself as retired.

I guess if you previously had worked due to needing the income, then stopped needing the income and changed career/hours etc then you couldn't really argue that you were not retired. Not black and white.

Sunnylifeover50plan

I think Dave Allen had a good sketch on this subject. Something like "I still am retired. But to keep myself during my retirement, in a manner to which I'm accustomed to, I have to work"

He was a funny guy, and clearly its a joke.

BikingBud

I think different factors affect different people. 

I use semi-retired rather than working PT as I have DB in payment and I have days spare during which I have many things to do, although achieving those at the moment with the Olympics on can be difficult!

I definitely feel having something to occupy your time after you reduce from full time employment is key and whether that brings remuneration or not might be important. A friend with 2DB pensions in place works a few hours at a local well known retailer with a principal benefit of discount against groceries, he says it's just like getting your tax back.

Perhaps retirement is a freedom and a state of mind rather than an employment status. Can you walk away without any negative impact to your standard of living or do you need to work to survive? If the former then the phrase I use or perhaps "consultant" for some might be the most appropriate if the latter then I would say you are still working. 

Back to the original question if sufficient funds can be saved for later life then it can enable the freedom however the reality for many is they will not be able to choose.