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I've applied for semi retirement, anyone else done it?

nav2022

nav2022

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After 42 years working for local government and paying in 41 years of pension I've decided to claim my pension but also work 50% reduced hours which we are allowed to do.
So I'll go onto half salary of 15k per annum and my opt out pension at this stage will be 15k per annum plus a big lump sum.
I'll continue paying my pension till I retire which will then boost my existing pension and then I'll also claim the state pension at that time.
Gonna buy a static with the lump sum and live by the sea on my days off and weekends.
House is payed off so no mortgage.
Thoughts?
 
Hi

You wont regret it - get it done!
Been on a 3-day week for coming up to 4 years - should have listened to a chum and done it years ago.........
Keeps the grey-matter going and surplus time to nothing if wants be :).

Hopefully you have enough hobbies and other things to do otherwise golf et all (not me) soon becomes boring every day or other of the week.

L
 
Do it if you can afford it, it’s the best decision I’ve made 👍🏻
I retired at 60, the nominal retirement age under our organisation’s pension scheme was 62 anyway, so only went 2 years early.
Had the opportunity to retire early on full pension and redundancy payout so grabbed the chance. The redundancy payout was more than I would have earned in the remaining 2 years anyway, and the pension scheme paid in full meant it was an opportunity not to be missed….
 
I'd look carefully into static vans or lodges - they retain little or no value after the initial term is up, you are really only leasing the building. If you decide to sell it, you have to offer it to the park first. My neighbours bought a motor home, which they store in a farmers barn and pick and choose when and where they want to go.
Good luck with what ever you choose to do
 
Charlie11 said:
I'd look carefully into static vans or lodges - they retain little or no value after the initial term is up, you are really only leasing the building. If you decide to sell it, you have to offer it to the park first. My neighbours bought a motor home, which they store in a farmers barn and pick and choose when and where they want to go.
Good luck with what ever you choose to do
Click to expand...
Yep, done exactly this. Off we go whenever to wherever. 👍👍🤣🤣
 
I did just that 8 years ago, still work 2 days a week and will continue to do so for the next 18 months. It's the best thing I have done and have no regrets at all. The good thing financially is that my work and state pension have increased at a greater rate than my pay.
 
I would love to retire and my IFA came to visit me 2 weeks ago to discuss where I am financially.
I was going to treat myself with the 25% lump sum but my advisor said it may not be wise as when I do finish as it will help in the future.
If I calculate my life expectancy to be 85 I would have quite a small monthly allowance which would mean I couldn't do anything else but get by so I've decided to carry on working my current hours until I'm 62 and then drop down to 3 days for a further 3 years and hopefully I will be better placed to retire at 65. If not I'll drop another day and slog it out until I'm 67.
 
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