Retire or retirement

[HiddenMickey35]

I work all my life and I cant believe that I will be 60 next year and I have two separate pensions from work state 60.

I am working for M&S for 18 years part time and worked for Council for 22 years full times.

I realised that pensions are complicated and I don't know anything about pensions and I think I go to CAB for help.

I spoke my workmate yesterday and she was shocking that I will get it next year 60 and she was 60 last year and she didn't get pension until 65 because she never work before.

Do I take both pensions next year as my state pension is 66 and 9 months

I don't understand about pensions and I cannot believe that I will be 60 next year and work is okay as i stuck on the tills for 4 hours for 4 days a week because they worried about my replacement knees both knees last year.

Do I take all pensions and carry on working part times less than 4 days or leave work?

I have mortgages another 5 years left. I do wish i have not any mortgages then i take full retirement ?

[WhereIBelong]

Originally Posted by HiddenMickey35

I work all my life and I cant believe that I will be 60 next year and I have two separate pensions state 60.

I am working for M&S for 18 years part time and worked for Council for 22 years full times.

I realised that pensions are complicated and I don't know anything about pensions and I think I go to CAB for help.

I spoke my workmate yesterday and she was shocking that I will get it next year 60 and she was 60 last year and she didn't get pension until 65 because she never work before.

Do I take both pensions next year as my state pension is 66 and 9 months

I don't understand about pensions and I cannot believe that I will be 60 next year and work is okay as i stuck on the tills for 4 hours for 4 days a week because they worried about my replacement knees both knees last year.

Do I take all pensions and carry on working part times less than 4 days or leave work?

I have mortgages another 5 years left. I do wish i have not any mortgages then i take full retirement ?

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You need to look at the paper work associated with your pensions. Would go get some advice. Your last pension forecast should give some idea of the income you may get...

One of mine did not allow you to work more than a certain number of hours in the same organisation that you took the pension from.

There may also be tax implications.

[vowels]

If you are a union member, they can also give advice.

[HiddenMickey35]

No my work don't have union

[Dinglebert]

You need to seek proper financial advice. There are far too many variables for anyone to offer proper advice from the information you have put here. Its a very big decision that you don't want to get wrong.

Just because in theory you can take your pension at 60 does not mean that it would be a good idea to do so. It depends on the type of pension etc.

You really need advice based on all the facts.

[mickey house]

Can't you contact the pension departments that hold your pensions and request some retirement estimates. You can usually ask for estimates such as how much will you get when you are aged 60, 63, 66 (or any age you want).

If you take your pensions and work part time, then be mindful that your pension will eat into your tax allowance, but no National Insurance is usual payable on pensions providing you have paid in for the required time.

[Cherrypie]

Check out pensionwise government website - they have a helpline too x

[Pumba75]

OP, there's at least a couple of things you've been told on here that are wrong. Best place to start is below:

pensionwise.gov.uk/en

[Juliemack]

Originally Posted by Pumba75

Best place to start is below:

pensionwise.gov.uk/en

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As the OP has a pension from working for the Council she will not be able to use that service as they only deal with 'defined contribution' pensions. The Council pension will likely be a 'defined benefit' pension so for that one she should use ...

pensionsadvisoryservice... 625.1578816876

[Pumba75]

Originally Posted by Juliemack

As the OP has a pension from working for the Council she will not be able to use that service as they only deal with 'defined contribution' pensions. The Council pension will likely be a 'defined benefit' pension so for that one she should use ...

pensionsadvisoryservice... 625.1578816876

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Yes, good point, I’d missed the reference to the council one on first reading.

Although, just to complicate (or maybe simplify!) matters - it’s all about to change to The Money and Pensions service, although I don’t think that actually goes live until around April.