i could retire today

[Tomo3090]

Should have added, you need to check with HMRC and the Pension Service in Newcastle first to get a pension forecast. That will tell you exactly where you stand.

[vindiboy]

You need 44 years contributions for a full State Pension. When I retired / redundant at 55, I had made 39.5 years contributions . the years from 60 till 65 [age] are credited to your fund free, provided you are in England for 6 months of each year, [tough I know] Thus at age 65, October this year I will get a full State Pension plus extra for the time I paid extra Graduated payments, do you remember that scheme, it didn't last very long but gives me an extra £8 per week .I have received all the paper work confirming this so know its right. I was born in 1944, and was known as one of the BULGE, as there was a huge rise in the Birth rate in 1944-- 1945, due to the war coming to an end, our classes in school were in the 40-45 pupil range because of this , as we of the BULGE are now reaching State Pension age the cost to the Government must be huge.

 

*-) *-) *-) *-) *-)

[Guest Tracker]

Me too Malc - and the wife and I are delighted with our new found combined £208.00 a week - every week - guaranteed!

[Dave G]

vindiboy - 2009-07-28 10:58 AM

 

You need 44 years contributions for a full State Pension. When I retired / redundant at 55, I had made 39.5 years contributions . the years from 60 till 65 [age] are credited to your fund free, provided you are in England for 6 months of each year, [tough I know] Thus at age 65, October this year I will get a full State Pension plus extra for the time I paid extra Graduated payments, do you remember that scheme, it didn't last very long but gives me an extra £8 per week .I have received all the paper work confirming this so know its right. I was born in 1944, and was known as one of the BULGE, as there was a huge rise in the Birth rate in 1944-- 1945, due to the war coming to an end, our classes in school were in the 40-45 pupil range because of this , as we of the BULGE are now reaching State Pension age the cost to the Government must be huge.

 

*-) *-) *-) *-) *-)

This is no longer true unfortunately as anyone reaching pensionable age after April 2010 only needs 30 qualifying years. I reach 65 in May 2010 having the requisite number of qualifying years even though I stopped paying NI some time ago. Like you I was pleased to find out that the graduated pensions I paid over the years was going to give me £6.92 extra a week. Anyway lets enjoy our retirement and think about the poor devils whose pension entitlement age is increasing from next April. :-(

[panagah]

A very good debate on the merits of retirment., At only 40 its a long way off for us. We often think of what and when. However we live for today and enjoy today the best we can for we know not what tomorrow will bring.

 

If it feels right do it. If it don't then dont.

 

one further question seems to be why everybody thinks retiring ot Spain and the continent is so great? Personally I hate Spain even with its weather. me? there is too much in the UK that I haven't seen, and this could be coupled in with working somewhere for a few weeks or months before moving off for a rest and doing the same elsewhere.

[vindiboy]

Dave G - 2009-07-28 12:53 PM

 

vindiboy - 2009-07-28 10:58 AM

 

You need 44 years contributions for a full State Pension. When I retired / redundant at 55, I had made 39.5 years contributions . the years from 60 till 65 [age] are credited to your fund free, provided you are in England for 6 months of each year, [tough I know] Thus at age 65, October this year I will get a full State Pension plus extra for the time I paid extra Graduated payments, do you remember that scheme, it didn't last very long but gives me an extra £8 per week .I have received all the paper work confirming this so know its right. I was born in 1944, and was known as one of the BULGE, as there was a huge rise in the Birth rate in 1944-- 1945, due to the war coming to an end, our classes in school were in the 40-45 pupil range because of this , as we of the BULGE are now reaching State Pension age the cost to the Government must be huge.

 

*-) *-) *-) *-) *-)

This is no longer true unfortunately as anyone reaching pensionable age after April 2010 only needs 30 qualifying years. I reach 65 in May 2010 having the requisite number of qualifying years even though I stopped paying NI some time ago. Like you I was pleased to find out that the graduated pensions I paid over the years was going to give me £6.92 extra a week. Anyway lets enjoy our retirement and think about the poor devils whose pension entitlement age is increasing from next April. :-(

How is it unfortunate that you now only need 30 qualifying years for the State Pension?I would have given up work even earlier if that was the case 10 years ago, I don't understand what you are saying ??

[Dave G]

How is it unfortunate that you now only need 30 qualifying years for the State Pension?I would have given up work even earlier if that was the case 10 years ago, I don't understand what you are saying ??

:

 

It's unfortunate because I didn't find out earlier and have paid for a few more years than I needed to :'( Still at least I'm enjoying my retirement and next year when the pension kicks in :-D

[malc d]

Tracker - 2009-07-28 12:40 PM

 

Me too Malc - and the wife and I are delighted with our new found combined £208.00 a week - every week - guaranteed!

 

 

Does that mean you're secretly thinking " Good old Gordon !"

 

;-) ;-)

[clay]

602 - 2009-07-28 6:49 AM

 

Hi,

 

Alternatively, you could be made redundant tomorrow ........... Problem solved for you.

 

Am I right in believing that you stop paying NI contributions at 60? And so does your boss? Maybe thats why B&Q employ wrinlies?

 

602

 

602

and i bet that us old wrinklies can spell the word how about you mate

[derek500]

one further question seems to be why everybody thinks retiring ot Spain and the continent is so great?

 

1. We sold a 4 bedroom house in England and bought a 5 bedroom house in Spain with a pool and had £200k left over.

 

2. We only pay 205€ council tax and 110€ for daily rubbish collection, per annum.

 

3. ......

[Mel B]

... and how much value has your property in Spain lost in comparison to the ones in the UK????

 

Only kidding - if you're happy, I'm happy for you! :-D

[Porky]

Obviously an emotive subject with lots of views and advice. Oh how i hate the very word RETIREMENT. The French have a lovely expression "the third age" It suggests the beginning of something not the end. How many people

can honestly say they have mostly lived outside their comfort zone. All I can say is, start a new life even if it feels uncomfortable. The old life will become a memory, the new one an adventure. That has been my experience.

 

Roy Fuller

[libby]

I'm surprised that the French allow themselves to be associated with any wording that sounds like "The Third Reich"

[derek500]

The French have a lovely expression "the third age" It suggests the beginning of something not the end.

 

Same here in Spain, La Tercera Edad. They also call OAPs Ancianas or Ancients!!

[Brian Kirby]

Ah, you should have moved to Portugal, there the retired are called Jubilanos!  Much more optimistic.

[602]

Hi,

 

I thought the French for Retirement was RETREAT.

 

602

[derek500]

Brian Kirby - 2009-07-29 1:23 AM

 

Ah, you should have moved to Portugal, there the retired are called Jubilanos!  Much more optimistic.

 

In Spain I'm a Jubilado. I'm retired but not yet an Anciano.

[vindiboy]

I don't care what anyone calls it, I'm just glad I'm doing it. :-o :-o

[derek500]

vindiboy - 2009-07-29 10:33 AM

 

I don't care what anyone calls it, I'm just glad I'm doing it. :-o :-o

 

The important thing is, is to become a Jubilado as many years as possible before you become an Anciano!!

[vindiboy]

Anyone here used the Pensionistas in Spain, {they are local day clubs almost for the older people in Spain for those who don't know }they are fantastic with trips out on coaches cheap meals and drinks, coffee too, always busy and a great atmosphere in them all are welcome to use them ,and the ones in Peniscola and Benicassim are exceptional we think . :-o :-o

[derek500]

vindiboy - 2009-07-29 2:32 PM

 

Anyone here used the Pensionistas in Spain, {they are local day clubs almost for the older people in Spain for those who don't know }they are fantastic with trips out on coaches cheap meals and drinks, coffee too, always busy and a great atmosphere in them all are welcome to use them ,and the ones in Peniscola and Benicassim are exceptional we think . :-o :-o

 

When I get my car or MH serviced in our local town, Bétera, I always pop in for an hour or two.

 

Cheap coffee, read the papers and watch a bit of telly. Always busy with lots of old men sitting around playing cards for money and drinking.

 

The one in Bétera is also the municipal cinema/theatre and the venue for evening classes etc.

[the crumblies]

To return to the original question – Clay makes a serious point and I’d like to offer a serious response. I’ve thought long and hard about this; my wife and I are very private people, but our experience may be of value to others, so here goes.

I planned to retire at 60, but the pension fund didn’t do quite as well as expected, so I delayed till 63. In the meantime I went part time, which was very successful in that it gave us time to try a few ideas, deal with several family problems and review our list of priorities. However, in that interim period both my parents died, I had to have three operations and my wife contracted a crippling disease. I don’t think I could have coped with all that if I’d still been at my high-stress and very mobile job. Then, just a few weeks before my 63rd birthday (retirement day) it was confirmed that I had a very aggressive form of prostate cancer, so most of my initial retirement time was spent either having treatment or recovering from it.

I say all this to demonstrate that no matter how well you plan, you cannot know the future, so if you have the opportunity, retire as soon as you can and enjoy the rewards of a lifetime’s work with (if you are as lucky as me) your lifetime partner.

These last few years have completely refocused my priorities, and time together is at the top of the list. I had a colleague with a similar disease; he died two years after diagnosis, but carried on working until the last few weeks of his life. Why?

During my treatment I have been amazed at (a) the number of men who are afflicted; around 35,000 diagnosed each year, and about 10,000 deaths in the UK alone, and (b) how little the public know about it. If you are male and aged 50 or more, you should read about it (here’s a good place to start: http://www.nhs.uk/Pathways/ProstateCancer/Pages/Landing.aspx?WT.srch=1&gclid=COSg0Nvrh5wCFUoB4wodnnsw_A)

and go to your GP and ask for a PSA blood test. PSA is an indicator, not an absolute measure, but successive readings over a few months will help your GP decide if you should be referred to a urologist for scans. Prostate cancer is also one of the most treatable cancers, so you really do owe it to yourself and your family to have that check. Note that I had no symptoms at all, but I did have a very good GP.

Sorry to inject such a serious note to our lively forum, but I feel it’s my responsibility.. I hope someone finds it helpful.

Happy camping for as long as possible!!

 

[malc d]

That sounds like very sound advice from " the crumblies".

 

It's always surprising how many people tell you how they intend to spend / plan 'the rest of their' lives when actually it is not necessarily under their control.

 

If you think you will be able to manage financially it seems to me to be a good idea to retire as soon as possible.

 

 

 

 

[Madmaggott]

We retired 3 years ago. My husband sold his business in 2005 and worked p/t for the new owners for about 6 months and I reduced my hours to 30/week. Then in 2006 we both gave up work and we moved to West Wales. This was a major decision as at the time he was earning more than he had ever done when he owned the business and I was also on a very good salary. However, in Dec 2004 my father had, in the space of 8 weeks had a tooth extracted, got an infection which turned into eppiglotitis and died. We decided to enjoy our lives together whilst we could as one never knows what the future will bring. Since then 1/3 of our nest egg has disappeared into thin air due to the stock market collapse but we still do not regret making the decision to retire. We have, however, discovered just how little one can live on when necessary.

[clay]

i have had such an overwhelming response from everyone aspecially poignent from the crumblies. i met an irish gent down at longleat last weekend who was in the merchant navy all his life, he retired last year and a month before this his wife suddenly died. he cut a very solumn figure and spent quite a bit of time wandering about looking for someone to talk to. my wife and i have now sat down and decided that i will retire on march 21 next year as it is a birthday. the reason we are slightly delaying it is that our van not being new needs some money spent to bring it back to as new. (we love it and do not want to upgrade). so i will plough a fair bit of my salary into putting her as we want without getting into our retirement fund. this way it gives us a date to work to and a purpoise to get there also we can start the new season with a vengence. >:-)