Aibu to take my work pension early? What age/point did you decide that's enough for me?

I’ve been retired since May, I’m 54! It was ill health retirement so a bit different, it it’s nothing that will shorten my life thankfully! I can’t work because of this, but that suits me! Saying that my pension is pretty good so don’t really need to work, I am however trying to do a bit of exercise each day to keep me busy - enjoy your retirement

I’m early retired & absolutely love it. I’m much less stressed & am healthier because I exercise a lot more. My sister was planning to retire at 60 but died of cancer at 58.

As long as you can afford it, it’s great. I certainly don’t ‘fuss about the house all day.’ I’m out swimming, walking, travelling, meeting friends. There’s lots to do!

Also a teacher, also 56, retired at the end of August. My DH has also just retired. I was worried I’d be bored, he has hobbies, I don’t. However, we moved a month ago into a rural property with land and there’s something to do around the place everywhere I look. I haven’t stopped! It feels like I’m in the world’s best Airbnb. I can’t believe we live here.

I’m glad I’ve done this now while I’m physically able. Even if we only have 20 years, I’m incredibly grateful to my DH who has been the financially savvy one who ensured we had savings and are mortgage free. To be fair, we’ve not gone on holiday bar recces to areas we wanted to move to for years.

In the depths of winter, I may be stuck in the house debating getting a part time job but I’d be extremely picky.

Discussions about retirement usually come down to whether the person actually enjoys their work and how physically and emotionally draining it is for them. Also of course if they can afford to retire early. I'm in my fifties in a job where I'm on my feet all day and can assure you I will not be working until 68

You’d be better off finding a part time permanent job for a few years rather than working supply, which is notoriously difficult and stressful. You might even be able to carry on past 60, which would be financially advantageous.

I stopped full time employment at 55 after taking VR from my long term career and then doing a one year mat leave cover role. Unfortunately it coincided with a real ramping up of infirm DPs and I didn’t enjoy my non working period and was glad to start a pt admin role in February. I enjoy working 3 days a week, but now DH has retired, DPs are in a care home and a close friend had a stroke aged 55, I feel I want to travel more than the allotted 6 week holidays. I have put in a flexible working request for more annual leave, but they will probably say no to it.
Its annoying as I see the benefits- social as well as financial- of working in some capacity, but it’s hard to find something which is more flexible on days. I guess that’s one of the reasons why so many people volunteer instead.

I’m planning to retire at 57. Hopefully but I’ve got a way to go yet. I don’t see retirement as fussing about the house, and pottering about. For me I would want to do projects I have not had a chance to start, I really want to do furniture restoration for example which is absolutely nothing he to do with my job so I would like to do that, see what income I can actually make from it and try not to touch my retirement savings but use them as a top up while I try something new. You can retire from your main job but that doesn’t mean stop doing anything productive at all, just choose something you think you want to make a go of and enjoy and see what you can do with it. Then at least you are not digging into your retirement funds fully and you never know where it might take you, plus your mind and body is keeping active and you always know if it doesn’t work then you will be able to fall back into your savings.

100% agree. I will retire in full in 11 year and by then I will have been in the NHS for over 40 years. I will be doing the thing I love most days and that is having zero plans!

But not everyone hates their job ? I actually really enjoy mine so I can’t see myself ever fully stepping away from it - probably to super part time at some point I’d imagine ! I want to have money in my older age to travel a lot and not be worried about meals out or nights out or affording things.

i can easily do my job remotely so i could Be away still regardless if still working

I retired at 58, after working at very senior leadership level. Spend my time looking after my horses, riding etc and bloody love it. No intention of ever doing any work ever again. I also did the sums re drawing it early with an actuarial reduction and waiting till I was 65 and it was a no brainer really.

I want to retire. I’m 60. I’ve always worked part time, as my DD has additional needs. I think my pension will be pitiful.

Plus, the years I was fostering only count as state pension- which has angered me greatly. I received an ‘allowance’ which was £60 pw, per child, so I wasn’t making money- they were all babies (3 of them), so formula and nappies… it changed to include a LA pension the year after we adopted two of them.

But, that’s the life I chose, and I loved it.

I retired from my London job at 55, and then paid off rest of mortgage with the lump sum (mortgage was small) and moved to countryside and got a job in a school! I really enjoy it - total change, still earning (shit wage though) and get school holidays! Definitely not ready to sit on my arse watching day time TV. Am 61 now.

I’m retiring in December at 55 after 37 years nursing. DH has just retired, also 55. I can get my DB part penalty free, but am also taking the non DB part 12 years early. If I live to 80 plus I’ll have ‘lost out’ financially on this but happy to take my chances by that stage. I want to enjoy life now whilst healthy and fit to travel, and gift to my young adult DC when they need it most. Have four foreign holidays booked before February already.
We also need to start spending to reduce our estate for IHT liability and whittle our estate down.
Neither of my parents made 70. Enjoy life and die with zero.

The average UK private pension pot for someone OPs age is £189k.
I think rich people on MN have a distorted idea of average pensions.

I retired from teaching last month at 58. I have just had enough - kids were great but the parents and the stupid bollocks rules and “initiatives” did for me. Our mortgage was paid off 20 years ago after my mum died suddenly and left some money.

My dad lives next door and I am essentially his carer, although his needs are quite modest now. I have just started training to become an advisor with Citizens Advice so that keeps me busy. I also want to downsize and relocate so clearing the house will keep me busy for months.

Like a previous poster, I have a good IFA and he has helped stretch my pension further. My lump sum is already invested and we review things regularly. DH is still working, predominantly from home and quite enjoying it. Daughters are adults, have left home and are financially independent. Life is for living, and so far I have zero regrets about retiring.

You have worked for 30 years and your pension is worth just £867 pm? Is that right?

I mean good for you if that’s what you want. But unless your husband earns well, it can’t leave any money for a decent standard of retirement living, surely?

What do people term as a decent work pension for day to day basic living?

18 more months, I’ll be 55. Won’t take pension though as have savings

I will be retiring before I reach 53, as long as I can get my head around the mental side of things. All financial responsibilities lie with me & this is hard with SEND young adults involved.
After being widowed at 42 I realise how precious life can be & the thought of working full on for years when finances don't require it makes no sense.
I am sandwich generation & have caring responsibilities both ways & this alongside work means no time for me at all. I need some time, I want to find hobbies & go for long dog walks not on anyone else's timetable.
I have a work pension I can take at 55 & like another poster it will be many many years before taking it early creates a loss & that can be mitigated by investing the amount as I shouldn't need it

I am sixty and of my close group of five of us, only two are still working FT, me and another.

One is fully retired and travelling in a camper van having fun. Another is nursing seriously ill DH, the third works very PT.

I would love to retire early but I’m divorced and have a mortgage for another couple of years. I will reassess when that’s paid off but if I do retire at 63 I will still do PT consulting work to pay for my holidays!!

@DozyCrow I'm sorry for your loss.
Have you looked here?

https://www.charityjob.co.uk/jobs/?source=nav&Workplace=remote

They have remote, part time, with some good admin roles. Worth keeping an eye on.

Two investments in my isa's. Naturally, I already had a significant amount in there, but growth was 20% !

I retired at 53. We paid off our mortgage the week COVID started. So all my earnings after that were held as savings, after general monthly costs. In 2021 I was being made redundant but could apply for other jobs, but we decided to use our savings to buy a house in France, took the retirement option, moved and 2 years later I drew down my whole pension and that gives me a steady income that meets the requirements for my visa/residents card renewal.

Instead of taking the monthly amount, you could look into what you could get as a draw down and put that into a separate SIPP or whatever they are called in the UK now, and take control of the funds yourself.

And yes it frees you up to do many other things.

Not something I aspire to. I am 64, no plans no plans to retire. y OH is 67 and he doesn't want to retire either.

I am self employed, I love what I do, it's creative and really feels like a very well paid hobby. My OH works for an IT compamy locally, he also loves his work. The company find it difficult to find people with tech skills they need, so will bend around post retirement age employees. The company has a few staff in their 70s who work part time, so that would be the next step for my OH.

I do find there is a slightly haughty attitude to doing nothing on here. I love doing nothing. I don’t get to do it anywhere like enough. When I retire, I don’t want to go to the gym or country houses with packed lunches. I want to stay in bed until 10 am every day; I want to laze around the house reading books and wasting time online; I want to potter round garden centres and complain I’m ever so busy.

The above is a bit tongue in cheek and I’m sure I will make time for more worthwhile pursuits but do I really have to spend every day at country houses?