Staying in job after taking employer pension.

[rfisher]

As I understand it, recent changes to the rules mean that you can't now be forced to leave your job due to your age.

So what happens salary wise if you stay in your job after you take your employer (not state) pension?

I've heard of people 'retiring' from their job, going on holiday for a week and then coming back to do the same job. I presume that the break in employment is to fulfill some legal issue?

[spikeyhead]

rfisher said:

As I understand it, recent changes to the rules mean that you can't now be forced to leave your job due to your age.

So what happens salary wise if you stay in your job after you take your employer (not state) pension?

I've heard of people 'retiring' from their job, going on holiday for a week and then coming back to do the same job. I presume that the break in employment is to fulfill some legal issue?

One place I worked at is was two weeks away after retiring before starting again. No idea on the strict legals of it, just my experience.

[anonymous-user]

An Engineer I used to work with retired and moved from full time to three day a week which meant the same take home pay as he paid less tax, he deferred his state pension and stopped contributions to his private.

Think he took one week off between transitions.

[elanfan]

Assuming your pension is fully funded I believe you can stop paying that out of your salary. I also seem to think you stop paying NI too. Tax wise you'll be paying income tax on both your pension and your continuing salary. If the combination of the two put you over the higher rate threshold you'll be paying a bit more to HMRC.