Phased work reduction and pension

[Mayapensioner]

I am 2 years to retirement and want to reduce my working days till then.

I have enough in savings to make up the shortfall, currently earning interest. Or, I could take some of my pension lump sum, tax free, and use that.

But I can’t work out if one method is better than the other. Any suggestions/thoughts?

What sort of pension are you in?

Defined Benefit (ie based on salary) or Defined Contribution (where you just pay into a pot)?

If you’re going to retire won’t you be living on less income? I’d try and manage on the lower salary so you don’t deplete your savings or pension?

@Bromptotoo defined contribution

I would first start by using a gross to net calculator to work out your net pay. https://www.moneysavingexpert.com/tax-calculator/. You may be surprised to find that the reduction in net pay if you drop one day is less than you expect.

Thank you for that suggestion @Sisterpita I will do that