Government Pension Uk

[jitagon]

A friend of mine has just told me that he would be taking 'early retirement' (at age 60) and claim his UK pension, which, he states, would be just 'a few quid' less than he would get if he were to wait until he's 65. Anyone know about this change in UK pension entitlement?

[Mobi]

You cannot recieve a UK State pension until your 65th birthday, (if you are aman), and 60 (if you are a woman).

He is probably referring to a private pension arrangement. Some of these have a retirement age of 65, but will allow you to take it early, but you will suffer a penalty.

These days most modern private pensions have much lower retirement ages, but not the UK State pension.

[bedbugy]

maybe it's a private pension with that you can get when you are 50

if it's state pension i want to know more too

[jitagon]

You cannot recieve a UK State pension until your 65th birthday, (if you are aman), and 60 (if you are a woman).

He is probably referring to a private pension arrangement. Some of these have a retirement age of 65, but will allow you to take it early, but you will suffer a penalty.

These days most modern private pensions have much lower retirement ages, but not the UK State pension.

This pension is most definitely the State one. No way would this man have a private pension. He has to get a sub from his boss in the UK transferred to pay for the taxi to the airport every time he comes here. Financially prudent he is not. And anyway, how many constructions workers do you know with a private pension

[chiang mai]

"State Employment Related Pension rights (SERPS) become payable upon reaching the age 65".

[Mobi]

You cannot recieve a UK State pension until your 65th birthday, (if you are aman), and 60 (if you are a woman).

He is probably referring to a private pension arrangement. Some of these have a retirement age of 65, but will allow you to take it early, but you will suffer a penalty.

These days most modern private pensions have much lower retirement ages, but not the UK State pension.

This pension is most definitely the State one. No way would this man have a private pension. He has to get a sub from his boss in the UK transferred to pay for the taxi to the airport every time he comes here. Financially prudent he is not. And anyway, how many constructions workers do you know with a private pension

In that case, he's talking out of his backside.

So don't get excited folks.

In fact the opposite is going to happen, as plans are afoot to make the retirement age older, not younger, and they have already enacted legislation to slowly equalise the retirement age of women up to 65, in the years ahead.