Sorting my life plan out at retirement

[Curlygirl06]

After having my state pension date changed several times (as many of us have) it's now within touching distance, as in the next year or two. I've worked all my life since 16, apart from when I had my children for a while, and I qualify for the full state pension. I also have a small civil service pension and a very small pension coming from my present employers when I apply for it. I have a very part time job, working 10 hours a week, 2 days a week 3pm to 8pm.
My plan was to wait until I'd worked at my present job for the required number of years to continue getting very significant benefits into retirement (18 months time), take that work pension and leave. Hadn't decided whether to wait until my state pension kicked in or just say sod it and go. However my work has just changed the pension rules, as in you can take your pension but carry on working the same hours, whereas previously that wasn't the case.
Pros and cons of staying at work, at least until my state pension kicks in-
Pros
I'd still be earning money
I like my job, the people I work with, the management and I get on great, and there are lovely customers I see regularly.
The hours are great, don't have to get up early, lots of free stuff when we close if not sold.
I'd be home every evening so spend more time with dh, although he works away a lot so that's not a guarantee. We don't do anything wildly exciting when we are both in together, as with elderly parents, him working and getting up at sparrow fart most days, school run, grandchildren baby sitting we're quite happy just being together with a bit of peace and quiet!

Cons
No paid income for a few months, although I have some savings I could use.
No more free stuff, which can be quite significant.
Loss of identity, and this is my big fear. My job is mine, where I'm not someone's mum, grandma, wife etc. I don't want to leave work and think, well this is nice but is this it?

Although I'm fit and healthy now, and the job is relatively physical, that may change and I might have to stop. Conversely, the physical part of the job keeps me fit and healthy.

I realise that it's a way into the future and life can change. I've tried the "What if it was now and what would I do" game but I can't decide. I know I can wait until the day thereof but I'm the sort of person that likes to have some sort of plan to work towards. Thank you for reading, what would you do?

So you will work 18 months irrespective but then either retire (option1) or partially retire (oprion2)? When do you need to let them know by? If you like the job, have energy for it and your DH is still working I would be tempted to partially retire and build a better pension pot by continuing while you can.

I am retired and work 2 afternoons a week in a charity shop. I think you need something to talk about other than family and errrr food shopping

You appear to have listed the pros of staying in your job and the cons of leaving it.

Which probably gives you your answer.

@Sunshineandgrapefruit 18 months definitely, as then I have been there enough years to keep a lot of work benefits in retirement, that's not negotiable, health permitting. I work so few hours that it's like I'm semi retired anyway!
My dh is younger so he'll be working a few more years anyway.
I'm not sure if I want to give up work because I can or if I actually want to, that's the rub. I only need to give a few weeks notice to say I'm retiring although it takes a while for the pension and lump sum to be sorted. Even if I carry on working, my hours and therefore my pay are so low relatively that it won't increase my current work pension by much. I wish I was the type of person to say wait until the time but I like to have a plan to work towards!

@Poynsettia absolutely agree, you need something that is yours. But if I was going to work in a charity shop, and I can as my friend runs one and wants me there, I might as well stay where I am and get paid for it!

You need something to retire TO. I'm going to retire and study art history, travel the world, work with dogs, whatever interests you.

Seems to me, if you like your job and there is nothing else you are yearning to do, why not stick with it?

If/when your feelings change, you can think again.

@NoBinturongsHereMate yes you're right, many reasons to leave but many reasons to stay as well. The politics of the workplace get on my tits sometimes but I'm not in work long enough for it to be a problem mostly.

@DwarfPalmetto travel would have to wait until dh retires, although we're doing quite a bit now, got the cruise bug!
My friend and I like going to nearby cities for a mooch and shopping, but not something I want to do every week, it wouldn't be special then. She's only just stopped working at 74 because her place of work shut down, and she's never been busier!
On the days I work I can meet friends but have to be home in time to shower and change for work, so that's a bit limiting time wise. I'm already limited as I do the school run twice a week on other days so I'd have more free time in the week, although the school run won't last forever.
Totally agree that you need something to do when you're retired, otherwise you're in danger of getting too comfy on the settee watching TV all day. I had 3 months off work a few years ago after an operation on my arm and it was lovely. Although limited by my arm being in a cast, I went to see my other children a few times (they don't live locally), caught up with paperwork and general house stuff, got up very late every day ( I can do that now anyway!) and it was very nice, but there was an end date to it.
Hmm.

I would spend a bit of time over the next 18 months envisaging how you would spend your time with no work. If that is more appealing than work, go and do that. However, if what you fancy doing is going to cost a bit more stick with work for a bit longer, then stop.

Could you do a bit of a bucket list of what you want to do. My colleague who is within a couple of years of retirement has this and is getting quite a few adventures in now.

I agree about having something to retire to.
I will have done 11 hours volunteering this week over 3 days, a hike with my walking group and a full day out hiking and dinner with DH. Met a friend for lunch out yesterday and I’m off to my scrabble club this morning. DH is also retired but doing a lot of freelance/consulting work at the moment.

@GOODCAT ideally I'd like to downsize while we can, rather than when we must but dh wants to wait until he retires so he's got time to do any work that would be needed. To be fair, I'm pretty handy at diy, we've done up and sold lots of houses over the years but if we did it now I'd have time to decorate! If a place needed major work, which he can do, we don't have the time now as we're very involved with elderly parents plus the grandchildren.
I know what I'd probably do if I was at home all the time, all those "little jobs" you keep putting off until you're on holiday or a bank holiday! That's all very well, until you've finished them all and then what? I'm always on the go doing something, but I don't want to be doing something just for the sake of it.
I'll have a think about a bucket list, the majority is travelling which I'd want to do with dh and he's not retiring for at least 5 years.

@ViciousCurrentBun yes that's what I need, something to retire TO. I'm more aware now that I'm thinking about giving up work because I can, rather than whether I actually want to retire, two different things in my mind. Hmm.

I’d keep working as you enjoy it and it’s not many hours.

My dad retired last year and he’s already applying for some small 10 hour a week jobs as he just wants something to do as he got a bit bored.

If you enjoy your part time job stick at it until you don't?

I work part time in a busy supermarket and really enjoy it. I am 74.

You don’t say what age you are and seeing as what I would do depends pretty much on my age I can’t help!

I'm 65 next birthday. Also what is in the back of my mind is my mum died very unexpectedly at 72, don't want to work until I drop!

Yes I do enjoy it, if I was younger I'd not even think about leaving, but it's the possibility that I can! X

Yep, I'm in a supermarket too, really enjoy it.

Do you get discount as well? I had not worked in a shop since I was at school. It’s a charity shop and not a supermarket but I love it. I volunteered in a small one but am now in a much larger one. I spent yesterday sorting out all the books and helped two customers choose books. Also priced up loads of donations.

I think if you really enjoy it keep working, would it be worth doing one less day though ?

Yes we get discount, definitely a benefit I appreciate! Don't know if I can cut down on my days, I'll have to ask. I know there's a minimum hours limit but I can't remember what it is, I'll find out.

@Curlygirl06 If 18 months makes a significant difference to your benefits in retirement, I would work the 18 months. I would suggest part time but you already are.

Break it down, 18 months is 78 weeks less at least 8.4 weeks statutory leave = 69 weeks vs benefits for the rest of your life.

Working 10 hours a week gives you a good idea of retirement, think about what you want to do in those 10 hours once they are yours.

Oh I'm definitely hanging on for those 18 months! I'm not giving up significant benefits for the sake of 18 months, although there is talk of them changing slightly soon but that's not definite. Even with the possible changes, it's still worth staying for that length of time. At the moment I'm edging towards doing the 18 months, applying for my present works pension but keep working until June ish, as I'm on holiday then so I'll be paid for going on a big holiday! Another sort of holiday idea/ family trip has been mooted for around the same time but I'm not sure whether I'd be able to get the time off. It all depends on dates but if it the dates works out and work says no to the time off, then I'll leave. I'll use my lump sum pension payment to live on until I get my state pension.
However, if they say yes to the time off, and they usually do for me, we're back to square one! Re the holidays, i get nearly 8 weeks A YEAR , I'm very lucky.
I was chatting about this to a lady i work with the other day, she doesn't want me to leave. Hmm.