We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
CIVIL SERVICE CLASSIC PENSION - WORKING RULES
AsifM068
Posts: 206 Forumite
Hi forum.
I have a deferred Civil Service Classic pension that I can access in 3 years time when aged 60. My question please; are there any rules about on-going employment if I were to continue to work beyond 60 whilst accessing the CS pension. I am currently employed via an umbrella company, working in social care for a Local Authority, which I really enjoy and would like to know what are my options if I continue to work beyond 60 i.e. are there any stipulated work patterns or tax implications / 'penalties' that I should be aware of.
Many thanks.
I have a deferred Civil Service Classic pension that I can access in 3 years time when aged 60. My question please; are there any rules about on-going employment if I were to continue to work beyond 60 whilst accessing the CS pension. I am currently employed via an umbrella company, working in social care for a Local Authority, which I really enjoy and would like to know what are my options if I continue to work beyond 60 i.e. are there any stipulated work patterns or tax implications / 'penalties' that I should be aware of.
Many thanks.
0
Comments
-
Short answer, no - the pension in payment will just form part of your taxable income. Unless you have a very particular situation, there will be no benefit to not drawing your Classic pension at 60 even if (given your overall earnings) it gets taxed at the higher rate (e.g. there would be no 'late retirement factor' due were you to start it only after 60).AsifM068 said:Hi forum.
I have a deferred Civil Service Classic pension that I can access in 3 years time when aged 60. My question please; are there any rules about on-going employment if I were to continue to work beyond 60 whilst accessing the CS pension.0 -
Only if you were to work for the Civil Service. In which case you would be subject to "abatement", where you are not allowed to receive more in combined post-retirement salary and pension than you earned before retirement.AsifM068 said:Hi forum.
I have a deferred Civil Service Classic pension that I can access in 3 years time when aged 60. My question please; are there any rules about on-going employment if I were to continue to work beyond 60 whilst accessing the CS pension. I am currently employed via an umbrella company, working in social care for a Local Authority, which I really enjoy and would like to know what are my options if I continue to work beyond 60 i.e. are there any stipulated work patterns or tax implications / 'penalties' that I should be aware of.
Many thanks.0 -
Many thanks all - that's a relief; for it would be great if I could continue to work part time after 60 whilst drawing my CS pension. Thank you again sincerely. 👍0
-
Are you eligible for LGPS membership? If so, go for it.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards