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The Retirement Thread

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EvilPixie Jul 2022 9:09am, 1 Jul 2022 33,621 posts	0 EvilPixie I'm definitely thinking more positively towards the idea of not working! I did almost get a side hustle part time retirement thing sorted as I was hoping to get into swimming teacher but Mr Pix wasn't keen .... I'll keep this on the back burner though!
Bazoaxe Jul 2022 9:22am, 1 Jul 2022 22,952 posts	0 Bazoaxe HG. I appreciate I am very lucky in that I was in a goodDB scheme for 29 years and which for c28 years was non contributory. Taking my position in isolation I could retire at 55 but mrs axe doesn’t have such good pension provision and we need to consider the whole thing. Not fair if I retire and send her out until she has enough of a pension.
Johnny Blaze Jul 2022 9:23am, 1 Jul 2022 27,520 posts	0 Johnny Blaze Private pensions do seem to have taken a battering just recently.
Northern Exile Jul 2022 10:19am, 1 Jul 2022 8,962 posts	0 Northern Exile Indeed. Mine has been decimated.
Velociraptor Jul 2022 10:43am, 1 Jul 2022 58,679 posts	0 Velociraptor Good illustration of why having some cash to see you over a rough patch in the stock market is recommended.
Fizz :-) Jul 2022 11:07am, 1 Jul 2022 7,149 posts	0 Fizz :-) It’s the reason that whilst I accept I may never receive payments out of my (8 year) DB pension which exceed the transfer value I could have got 6 months ago (which has reduced by 30% today), I’m happy to leave it there and let my ex-employer take the investment risk.
Bazoaxe Jul 2022 11:39am, 1 Jul 2022 22,953 posts	0 Bazoaxe That’s the gamble fizz isn’t it. I know my transfer value is 30% down on the peak and maybe 25% down we n this year. What I don’t know is if it would have been any different if it was in my control and at my risk. I reckon my DC is down maybe 15% so not as drastic but I do take comfort that my DB pension is not impacted at all. In fact given inflation it might even get a nice increase next year.
Fields Jul 2022 11:53am, 1 Jul 2022 5,223 posts	0 Fields Very glad I’m with LGPS although they’ve not set me up yet so god knows what happens if I die in service. Behind on the admin work in payroll apparently. I’ve also lost 3 of the 12 months window I have to transfer in my private pension. That said it’s better leaving it where it is both as it’s lost some value and may recover in the next few years and also because it gives me a chance to access the money separately from LGPS in the future
Fields Jul 2022 11:54am, 1 Jul 2022 5,224 posts	0 Fields I know someone who works for the council who said he may as well retire as would get a higher “pay” rise on his pension than he’ll get for his job
Fizz :-) Jul 2022 11:59am, 1 Jul 2022 7,152 posts	0 Fizz :-) The sad fact is that my eight years of DB transfer is still higher than my 16 years of DC and that’s with me putting in higher contributions than the minimum and adding in some bonuses as well.

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Retirees Hall of Fame

McGoohan

(15.01.25)
Marmite (01.01.25)
Roobarb (20.12.2024)
gribb0 (20.12.24)
3M (18.12.24)
Jigs (25.09.24)
Synge (30.08.24)
Silvershadow (02.08.24)
Hibeedeb (02.08.24)
Winniefree (08.07.24, 2nd attempt)
EvilPixie (24.06.24)
Snail (21.06.24)
GregP (14.06.24) (after part retirement 31.03.23)
Fizz :-)

(13.06.24)
Jaks (15.05.24) (third time of retiring)
HellsBells (31.03.24) (orig. May 2018)
TROSaracen (07.02.24)(semi retired since mid 2019)
Hanneke (01.02.24)
Jenni-far-far (28.12.23)
FergusG (22.12.23)
Mrs Jigs (Luverlylegs) (11.12.23)
eL Bee! (30.11.23)
Lip Gloss (22.11.23)
jda (28.08.23)
RFJ (23.08.23)
Sigh (28.07.23)
Schnecke (end of school term 07.23)
Sharkie (05.07.23)
Ally-C (08.06.23)
Rebel (12.05.23)
CogNoscensme AHA (07.04.23)
Windsor Wool (05.04.23)
Bob! (30.03.23)
Velociraptor (21.03.23)
Garfield (provisional, 27.02.23) (see p.699)
ThorntonRunner (20.12.22)
DrMags (30.07.21)
MaltDrinker (30.07.21)
DoricQuine (15.06.21)
Mandymoo (21.05.21)
Eynsham Red (06.05.21)
GimmeMedals (31.08.20)
Steve NordRunner (01.08.19)
um (May 2017)
macca 53 (31.10.17)
XB (07.07.16)
Flatlander (November 2011)
Helegant
Ness
SarahWoo
Rosehip
alpenrose
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annadav
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jabberknit
Shades
Northern Exile
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