To retire or not to retire that is the question !

[sunjue100]

So. Hit 55 in July and now have the right to retire on full pension. Appreciate bit of a 1st world problem and appreciate I’m in a very fortunate position but feel v torn atm.

Just looked at my last years pension contribution which has had v little effect on either my lump sum or forecasted monthly pension despite paying significant money in over the year. Currently being affected by pension tax as well
(NHS pension and been in the NHS from age 18).

Really like my job but worried about long term impact on my pension if i stay. ( in a senior role so limited options if any to reduce hours). Equally worried that if I retire I won’t know what to do with myself . For those who have been in this situation, how did you come to your decision and was it the right one ?

[Edna Cloud]

My friend retired with an NHS pension at 55, but took a bank type job with an agency. She is delighted with her decision. She has a good pension and can pick and choose what days she works. She has more money in her pocket for less work!

Only you can decide though; she had a very clear plan that worked for her.

Good luck with your decision making.

EC

[Melanie R]

Does your trust allow retire and return? We have quite a few staff who do this at ours - best of both worlds!

[sunjue100]

Originally Posted by Melanie R

Does your trust allow retire and return? We have quite a few staff who do this at ours - best of both worlds!

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Yes but not at my level as if I did this I’d want to reduce hours and unlikely to be supported.

[Tinkerbell]

Retired at 55 after 30 years nursing.

Like you I looked at what I was payIng in against what I would get if I didn’t go. For me it was a no brainer.

We actually moved to Spain and bought a small farm as we wanted to experience a totally different way of life.

I’m not sure I could just do nothing, so my advice is what else would you like to do, what other life experiences do you want. Not sure I’d just stop working all together but leaving the NHS was beneficial to my mental and my physical health

[tspill]

Retired at 53 in April.
Haven't looked back or had a single regret. Being in control of my own time is fantastic.
Not a single negative.

[Bootrip2]

I would lve to retire at 55, my main nhs pension stopped in 2015 and i now have to have 2015 pension, this is not so good a scheme and cannot be touched until state pension age, which at the moment poalposts seem to be changing all the time! How much reduction in lump sum etc is it to go early?

[Mary A]

I retired yesterday! NHS worker for 38.5 years. I'm going back on 22.5 hours/week, same role, same band - practice development midwife. I'm getting a band 6 to support me (with my vacated hours )

[sunjue100]

Tinkerbell , like you have been a nurse (and for 15 years a midwife in the middle) since age 18, in a senior nursing role now, finding it really hard to come to terms with impact of loss of identity ( I know that sounds mad &#128540. Also DH is younger than me and can’t retire early. Think I’m just a scaredy cat really and need to get a grip !

[Moorlandman]

Take the pension and retire!