pension age 55

[p1doc]

government has plans to increase private pension age to 57 in 2028 when i turn 55 will this be phased in or just changed for everyone
any of financial whizz kids got any ideas?
thanks
martin

[PurpleMoonlight]

When it increased from 50 to 55 it was 50 to 5th April 2010 and then 55 from 6th April 2010.

I would think the same will apply when it goes from 55 to 57.

[p1doc]

ouch-was hoping to be more graded but i suppose all up in the air at moment
martin

[Cotty]

Its a PITA as I wanted to go at 55

[red_slr]

Same. I will be 48 in 2028.
PITA it being so close.
So long as it just goes to 57 and stays there till I am 57 that's ok.. if they move it a couple of years after I will be

[Cotty]

I think ill still go at 55 but will need to bridge the gap until I can get at my pension.

[p1doc]

i reckon will stay at 57 for 5years max then increase to 60 and eventually state pension age despite annual and lifetime allowance decreasing=easy cash cow for government
martin

[Ginge R]

The intention is it'll trail the state pension age by ten years.

The revision will only affect those currently under forty or so.

[Cotty]

My understanding is it will match state pension age less 10 years.

[Cotty]

snap

[p1doc]

Ginge R said:

The intention is it'll trail the state pension age by ten years.

The revision will only affect those currently under forty or so.

phew-42 this year lol
martin

[Ginge R]

Well, you should be ok. But don't bank on it. The Office of Budget Responsibility published some data about the state pension age last year. If life expectancy continues as predicted, for those aged 42, the state pension age could be 72. For those born after 1989 (my eldest's, so I know this!) it looks like being 75. If the state pension age rises quicker and more steeply, so too, might the impact on your personal pension access also change. Will it change adversely for investors? I think it's bound to.

[p1doc]

catch 22 situation really then-will have to wait and see,was not going to rely on state pension as age keeps on increasing
getting stung by increasing pension age vs decreased lifetime and likely annual allowance
martin

[Storer]

I am curious what level of private pension income those planning to retire at 55 deem sufficient to live on?
Is it a case of take the pension and start another career paying less but providing more job satisfaction?
I am 57 and semi retired as both of my businesses need relatively little of my time. However, I find that hobbies etc. consume more disposable income than I used to need when working full time (obvious really!). What do you all plan to do with all that 'time'.

Keeping the brain active is probably more important than the body so how do you plan to do so?

[p1doc]

i plan to semiretire so keep my hand in to keep brain occupied but with pension do less hours
martin

[Cotty]

p1doc said:

i plan to semiretire so keep my hand in

Said the gynaecologist

[p1doc]

Cotty said:

Said the gynaecologist

lol
martin