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Original poster

I want to retire

80 replies

RosieLeaLovesTea · 09/02/2025 22:00

Hi all I have been working full time for 24 years and I want to retire. I am so envious of people that are retired. Am I the only one? I have to work another 10 years to get a full state pension as somewhere beefier 2016 my employer opted out. I checked my HMRC account online. m. Such a bummer. I thought I only had another 6 years to go.

OP posts:
gingercat02 · 10/02/2025 10:56

Gloriainextremis · 09/02/2025 23:01

Four years and two months to go.

Not that I'm counting...

Me too, damn straight, I'm counting

suki1964 · 10/02/2025 11:09

GoldMoon · 10/02/2025 09:28

@suki1964

it sounds like you are still a couple of years off and maybe the 1964 is a clue.
I hate to burst your bubble but the retirement age is changing again , and will include your birth year .

They are starting next year( or possibly 2026 ) to add an extra month before you retire so if birth in January you wait an extra month before you can claim , Feb birthdays 66 + 2 months , March 66 + 3 months and so on until the retirement age hits 67 .
Basically new retirement age is soon to be 67 .

No Idea why I put 66, typo, I did know it had changed - again - Bastards lol

Still Ive only 2 more years to pay , I have a tiny pension, still a lot of the lump sum, I have a substantial industrial injury payout coming in the next month or so - so I will have enough to get by on if I feel enough is enough

Plus we have a huge house which we will be looking to offload before we are 70, looking to move back to a town with public transport before driving becomes too much/risky.

Not going to have a rich old age, but comfortable , we live well on very little , our biggest expenditure is fuel - cars - cos we don't have PT, and heating this huge house which we won't be needing forever

Parker231 · 10/02/2025 12:53

Rugbyrover · 10/02/2025 10:53

I think a lot of folk need some kind of sabbatical, rather than to actually stop working and retire.

Why? I’m in my mid 50’s and fully retired a couple of years ago. No intention of doing any work again.

Interested in this thread?

Then you might like threads about these subjects:

General money Retirement & pensions
Rugbyrover · 10/02/2025 12:55

Parker231 · 10/02/2025 12:53

Why? I’m in my mid 50’s and fully retired a couple of years ago. No intention of doing any work again.

Show quote history

Because most people can't afford it. And since they have x amount of years left to work until they can afford it, some kind of stepping off the treadmill and reevaluating life could be good for them.
If I could afford it I'd be off like a shot!

nopenotplaying · 10/02/2025 13:08

How does the hmrc app work? Do you have a link please

redphonecase · 10/02/2025 13:09

What is your private pension like @RosieLeaLovesTea

cardibach · 10/02/2025 13:12

GoldMoon · 10/02/2025 09:28

@suki1964

it sounds like you are still a couple of years off and maybe the 1964 is a clue.
I hate to burst your bubble but the retirement age is changing again , and will include your birth year .

They are starting next year( or possibly 2026 ) to add an extra month before you retire so if birth in January you wait an extra month before you can claim , Feb birthdays 66 + 2 months , March 66 + 3 months and so on until the retirement age hits 67 .
Basically new retirement age is soon to be 67 .

I was born in 1964 and my state pension age is 67. Has been for years. I took early retirement at 55 and checked then.

Jung200 · 10/02/2025 13:16

GoldMoon · 10/02/2025 10:06

You definitely need 35 years to receive " full " new state pension.
You might have read you get some ( you qualify to start to be able to claim once you've paid in 10 years )
But its 35 years to receive the full amount.

Its,worth knowing that you carry on paying it after 35 years and keep doing so as long as you are working.

Your ni isn't for you , it's not a pot of money sitting , waiting for you to retire.

What you have paid and are paying is for those getting it now .
When you retire , those still paying in will pay yours .

Show quote history

No, not everyone needs 35 years to get full state pension. That’s only for people who starting making NI contributions after 2016. For the rest of us it depends on a variety of things. People keep spreading this myth of 35 years for everyone.

Maggiemargherita · 10/02/2025 13:23

nopenotplaying · 10/02/2025 13:08

How does the hmrc app work? Do you have a link please

https://www.gov.uk/check-state-pension

start here @nopenotplaying

Check your State Pension forecast

Find out how much State Pension you could get (your forecast), when you could get it and how you could increase it

https://www.gov.uk/check-state-pension

FourChimneys · 10/02/2025 13:26

I am old enough to retire and could afford to but I don't want to. I run my own business, exactly the way I want to. I am very picky about clients, and work the hours I choose. I aim to run it down by the time I am 75 or so.

It would be different if I was working for someone else in a job I didn't enjoy.

custardpyjamas · 10/02/2025 13:29

You can retire and carry on paying your national insurance contribution to get the full state pension when you reach retirement age. The question is can you afford to retire without getting the state pension. Could you live on a part time job doing something you like, do you have savings income, could you take a lodger, equity release on your house, etc.

Resilience · 10/02/2025 13:30

Not all jobs are created equal in terms of how long you can keep them up.

If you do something manual (e.g. plumber or cared) there will probably come a point when physically you just cannot do it anymore and it may well happen long before your state pension age.

If you do something very all-consuming and stressful, you may have to quit after a couple of decades simply because of your health (or wanting to have some sort of work/life balance).

I did a far less demanding job when my DC were young. Now they are grown up I am in a well-paid but reasonably stressful job with a lot of responsibility and additional hours. I love my job but no way do I want to be doing this still in 15 years time. Once DH retires I will be looking at my pension and making a choice that balances the need to build my 'pot' with living life now and prioritising my health and enjoyment. The mortgage will be paid off by then which is a game changer.

I think more and more of us will have to career diversify and change roles/careers as we age and our circumstances change.

I'm one of the lucky ones who has choices. Not everyone does, and that's not through a lack of hard work either but often just sheer damn luck. I really feel for those who will have to pay rent or mortgage into retirement or who have few qualifications or access to training that could help them overcome physical limitations, etc.

Chewbecca · 10/02/2025 13:31
  • you still won't get your SP until 67/68, even when you have sufficient NI contributions
  • you don't have to wait until SP comes in to retire, save up, lower outgoings and make a plan and you can retire at any agree you choose
  • alternatively, how about looking for a new job that's more enjoyable?
Neversaygoodbye · 10/02/2025 13:39

@Maggiemargherita thanks, yes I've got full NI years from age 16 (I guess that's as I was working in the summer holidays and full time education) so am fully paid up and more (38 years to date and counting).
A word of warning for those like me in your early 50s, there's a government proposal to increase state pension age to 68 for those born between 6 April 1970 and 5 April 1978 - I suspect this will end up being approved.

Chewbecca · 10/02/2025 13:48

Neversaygoodbye · 10/02/2025 13:39

@Maggiemargherita thanks, yes I've got full NI years from age 16 (I guess that's as I was working in the summer holidays and full time education) so am fully paid up and more (38 years to date and counting).
A word of warning for those like me in your early 50s, there's a government proposal to increase state pension age to 68 for those born between 6 April 1970 and 5 April 1978 - I suspect this will end up being approved.

I fall into that age bracket but feel it is way too late to delay, surely that mistake has been learned from by now?

BigFatLiar · 10/02/2025 13:56

Perhaps a benefit of marriage. I retired at 55 taking an early reduced pension. My parents were ill and I wanted to help care for them. My husband and I discussed it and I retired and looked after them until they passed. DH continued on past his actual retirement date. We're both retired now.

Neversaygoodbye · 10/02/2025 13:57

Let's hope so, but just wanted to make people aware that it's under discussion as far as I'm aware. I've seen quite a few articles warning about the possibility of the bringing the rise to 68 in earlier than planned. Hopefully I'm not scare mongering.

Getupat8amnow · 10/02/2025 14:01

i loved my job and was good at it but now I am retired I am thankful for having the priceless gift of time. After decades of having to be at work, meet declines etc my time is now my own to do as much or as little as I want, it is glorious.

I don’t miss work at all. Of course having a decent retirement income means that I don’t worry about money, it would be a different story if I was worrying about money. I do think younger people need to be directed to saving into their pension as without retirement is just a dream for many.

marshmallowmix · 10/02/2025 16:47

They can’t keep raising pension age it’s crazy … can’t get my pension until am 67…it’s a joke !

I’m not as mentally at alert but need to keep working even though am knackered …what are options when u hit mid 50…

Maggiemargherita · 10/02/2025 16:52

I’d be surprised if there is any state pension at all by the time I’m 68.
you can get ni credits if you’re a carer and even if you care for grandchildren too. I guess you just have to weigh your options

Karatema · 10/02/2025 18:55

RosieLeaLovesTea · 09/02/2025 22:00

Hi all I have been working full time for 24 years and I want to retire. I am so envious of people that are retired. Am I the only one? I have to work another 10 years to get a full state pension as somewhere beefier 2016 my employer opted out. I checked my HMRC account online. m. Such a bummer. I thought I only had another 6 years to go.

What do you mean your employer opted out?

Undrugged · 10/02/2025 18:58

Yeah me too. I’ve done 25 and still have another 20 to go until state pension and occupational age. So depressing. Especially in gloomy February.

BigFatLiar · 10/02/2025 20:52

Karatema · 10/02/2025 18:55

What do you mean your employer opted out?

Show quote history

I think she's taking about being contracted out. This was normally only for those in a workplace pension scheme. If you opted out you may not get full state pension for those years.

Original poster
RosieLeaLovesTea · 13/02/2025 17:56

Yes that’s what I meant - contracted out / sorry for the confusion.

I have a decent public sector pension with 24 years of full time work contributions. I need to boost a bit more. Plus get the mortgage paid off. That will be the game changer for me. To have the choice of part time or lower paid job that is less stress

OP posts:
BigFatLiar · 14/02/2025 11:13

Your private pension is meant to cover the difference. You may be able to pay additional monies to cover the shortfall, check your pension entitlement online. IIRC they wanted about 3k from me to make up the difference to a full state pension, should have done it, my private pension is good but it would have been a wise investment.