Teachers - is it best to retire at 55 or 60?

[hercules1]

What do you think?

Depends how your ankles and voice are standing up to the job. If I was still teaching, I would have been looking to my DH to support me from 55, as I would have had enough by then....but the longer you work, the better the pension and the lump sum, so on balance I'd say 60.

I did hear rumours that they were going to put it up to 65.Aaagh!

Teaching is the only career in this country where you can 'retire' at 55 on an reduced (but not by much) pension on Friday, draw your pension and start back at work on Monday in exactly the same job and start accruing another pension on top.

Is that really true somersetmum? I thought you had to reduce your hours. I've never heard of anyone walking back into exactly the same job after the weekend, having taken retirement! And aurely there are other jobs where a similar thing happens - I know a number of non teachers who have taken 'early retirement' at 50 or even late 40s and carried on doing some work.

I know loads that leave at 55 then return to supply teaching the next term.