[Misc] Retirement

[banjo]

Saw an interesting program where one of the panelists said that the only reason any man aged 65 or over should be working is because he needs the money. Basically if you have worked to that age you have done your ‘sentence’ and should be enjoying your hard earned retirement after 40 odd years or more. His thinking was that a lot of people who are comfortably off continue working past 65 out of vanity, they simply can’t imagine how the company can carry on without their vast wealth of knowledge and experience. There is also a sound reason they should not continue as both physically and mentally they are not what they were when they were 20. Also they are actually being somewhat selfish by preventing younger people getting much needed work. Makes sense to me – I bailed out at 62, there’s only so much BS you can take.

Great advice. I’m not planning on working full time after 60. You only get one life.

 

[raymondo]

We topped up Mrs D’s NI recently…..took about 12 weeks to show on her NI record.

Good job she didn't take her pension during those 12 weeks

 

[dazzer6666]

Good job she didn't take her pension during those 12 weeks

I thought giving them 10 years to process it would be safe

 

[Weststander]

Great advice. I’m not planning on working full time after 60. You only get one life.

Unless you’re a spiritualist.

 

[banjo]

Unless you’re a spiritualist.

 

[raymondo]

I thought giving them 10 years to process it would be safe

Smart move

 

[sparkie]

My mother just got the confirmation of her ~10% state pension rise from April.

Of course this also becomes part of future pensions so is a nice rise for us all in the future.

Just 2.5 weeks until Mr Hunt may well tell me that my state retirement age will go up to 68 though ( don't do it Jeremy.... ).

 

[pure_white]

I recommend getting yourself a Seniors railcard card (from age 60, use on off peak trains) and have a look around the UK, plenty of really nice places to visit. Scotland a must.

 

[WATFORD zero]

I thought giving them 10 years to process it would be safe

Clearly an optimist who has never had to deal with the Department for Work and Pensions

 

[Jack Straw]

On top of my three times a week playing of the beautiful game, I now swim for an hour non-stop at the Prince Regent once a week. £ 3.65 well spent. Also, I've started playing snooker again. Not played for 40 years until now. I'm still hopeless! A three-hour session from mid-morning means another day almost full.
I'm loving retirement!

 

[WATFORD zero]

On top of my three times a week playing of the beautiful game, I now swim for an hour non-stop at the Prince Regent once a week. £ 3.65 well spent. Also, I've started playing snooker again. Not played for 40 years until now. I'm still hopeless! A three-hour session from mid-morning means another day almost full.
I'm loving retirement!

Now I'm jealous. My knees mean a couple of times a week is my absolute limit (and after a tournament I need a week and a half to recover)

 

[Eric the meek]

Clearly an optimist who has never had to deal with the Department for Work and Pensions

You're just an old romantic.

I made my NI top ups for myself and my wife in early December, and they've just been applied, so it took them about 10 weeks.

The fact that I'm relieved they got it right, is a reflection of my expectations. Hence in today's world, a 10 week turnaround becomes acceptable when it isn't acceptable.
It's rubbish. We are so conditioned to poor service and performance by public bodies, that we rejoice when we finally get something that we asked for 10 weeks ago, and consider it a good result.

 

[South Stand Bonfire]

You can set your own tax code online if you do a SA. I do it now cos it was all over the place and just keep an eye for end of year to pay what extra I owe - or rather pay a lump in a private pension to make sure the rebate wipes out the underpayment

Ditto! On line works really well.

 

[dazzer6666]

Clearly an optimist who has never had to deal with the Department for Work and Pensions

It was sufficient, all sorted and both of us now looking forward to the max state pension if we make it that far

 

[Tim Over Whelmed]

I recommend getting yourself a Seniors railcard card (from age 60, use on off peak trains) and have a look around the UK, plenty of really nice places to visit. Scotland a must.

I've just purchased a veterans railcard and am starting to plan a Scotland cycling holiday. Nothing too arduous so thinking of sticking close to Lochs, imagining fewer hills? Alternatively (avoiding the midgies), I may look at canal towpaths in the Midlands? Anyone any experience?

 

[Nicks]

I've just purchased a veterans railcard and am starting to plan a Scotland cycling holiday. Nothing too arduous so thinking of sticking close to Lochs, imagining fewer hills? Alternatively (avoiding the midgies), I may look at canal towpaths in the Midlands? Anyone any experience?

Dont go in the summer as it's a Midge Frenzy up there

 

[AlbionBro]

Saw an interesting program where one of the panelists said that the only reason any man aged 65 or over should be working is because he needs the money. Basically if you have worked to that age you have done your ‘sentence’ and should be enjoying your hard earned retirement after 40 odd years or more. His thinking was that a lot of people who are comfortably off continue working past 65 out of vanity, they simply can’t imagine how the company can carry on without their vast wealth of knowledge and experience. There is also a sound reason they should not continue as both physically and mentally they are not what they were when they were 20. Also they are actually being somewhat selfish by preventing younger people getting much needed work. Makes sense to me – I bailed out at 62, there’s only so much BS you can take.

I am interested in your "there is only so much BS you can take", can you expand on that please?

 

[DJ NOBO]

I’ve got a national insurance contribution question.

I’m likely to leave my job during the next financial year..

At the time I leave my job I will have earned about 17k in the financial year.

It’s possible I may not earn for the rest of the financial year.

Will I have earned enough in 23/24 to qualify for one of the 35 qualifying years I need for my full state pension?

Cheers

 

[Denis]

I believe that as you will have earnt above the limit, to pay NI contribution, you should be fine for year 2023/24.

 

[LamieRobertson]

Now I'm jealous. My knees mean a couple of times a week is my absolute limit (and after a tournament I need a week and a half to recover)

You should try playing snooker standing it’ll save ya knees