Who's retired on here, do you enjoy it

Erimus74 said:
Final 2 years for me till I call it a day, God willing mind, that will be 37.5 years at the same place, not bad for a numpty, really looking forward to it 👌
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Final two years for me too Erimus. My plan was to retire mid November and have my 60th Birthday at the World Cup Finals in Qatar and then hop over to Australia to watch England in a test match. I hope Covid is manageable by then as I may still do it. Not bad for another Numpty from St. Michaels as I have put the full shift in as well ;)
 
Ayresome said:
Final two years for me too Erimus. My plan was to retire mid November and have my 60th Birthday at the World Cup Finals in Qatar and then hop over to Australia to watch England in a test match. I hope Covid is manageable by then as I may still do it. Not bad for another Numpty from St. Michaels as I have put the full shift in as well ;)
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Wow, not as exotic as your retirement mind, I wanted to have my 60th in the ironops & hope to hop along to NY, but not so but I got a John Hickton foot 5 cradboard cutout & a video from family, friends, Mogga, Peter & John Hickton wishing me happy 60th so that made up for it all
 
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I've been retired 7 years . I've loved every minute of it. I loved being an Electrician at BSC then retraining as a Psychiatric Nurse in the NHS . It was without doubt the best move I made in my working life. Moved up the ranks and met some wonderful people both other staff and many patients.
Nothing is as good as being able to do whatever you like at any time you want to when you are retired. although having a good pension helps
 
I always planned to retire early as I said previously. You work hard, get out and enjoy the time left which becomes more precious as you get older. Too many croak early after retirement so try and stay healthy. Yes, money might not be as plentiful, but adjust your lifestyle accordingly and enjoy the free time.
 
I started work 39 years ago in the civil service. Realised back then at 18 that the final salary pension they offered was a significantly important condition of my service and I appreciated the unique value of it. I have stayed in civil service / Public service roles ever since, turning down more lucrative offers to work in the private sector, sometimes for 30 to 40% pay increases, mainly because I recognised the value of the pensions benefits in my total remuneration package even though it meant earning less. I hope to retire next year at 58 having been fortune enough to have worked 40 years continuously. My pension is contributory and the percentage you must pay as an employee has steadily risen over time. I can’t reduce these costs the dedications are mandatory if I want to enjoy the full scheme benefits at the end of my career.
This month my dedications towards my pension were £729, my employers contribution towards my pension this month was £1644, that’s £2373 a month or just shy of £28.5K annually. It does annoy me sometimes when people get angry at the public sector pension schemes as though they are a kick back or freebie. Most people could apply for roles in public service with similar pension benefits but chose to take alternate positions that carried different pay and conditions. That is a choice people make. Pensions shouldn't be about a race to the bottom. Your pension scheme is a key part of your conditions of service and should be viewed as part of the total salary and benefits package on offer.
 
Duffman said:
I started work 39 years ago in the civil service. Realised back then at 18 that the final salary pension they offered was a significantly important condition of my service and I appreciated the unique value of it. I have stayed in civil service / Public service roles ever since, turning down more lucrative offers to work in the private sector, sometimes for 30 to 40% pay increases, mainly because I recognised the value of the pensions benefits in my total remuneration package even though it meant earning less. I hope to retire next year at 58 having been fortune enough to have worked 40 years continuously. My pension is contributory and the percentage you must pay as an employee has steadily risen over time. I can’t reduce these costs the dedications are mandatory if I want to enjoy the full scheme benefits at the end of my career.
This month my dedications towards my pension were £729, my employers contribution towards my pension this month was £1644, that’s £2373 a month or just shy of £28.5K annually. It does annoy me sometimes when people get angry at the public sector pension schemes as though they are a kick back or freebie. Most people could apply for roles in public service with similar pension benefits but chose to take alternate positions that carried different pay and conditions. That is a choice people make. Pensions shouldn't be about a race to the bottom. Your pension scheme is a key part of your conditions of service and should be viewed as part of the total salary and benefits package on offer.
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Spot on pretty much my story . When I was young my pals who didn’t have pension schemes understandably threw their wages at flash cars and holidays . Back then I wasn’t too happy about putting a big wedge away each month for later life ( courtesy public sector mandatory pension scheme ) , but blimey I’m so glad I did now .
 
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Duffman said:
I started work 39 years ago in the civil service. Realised back then at 18 that the final salary pension they offered was a significantly important condition of my service and I appreciated the unique value of it. I have stayed in civil service / Public service roles ever since, turning down more lucrative offers to work in the private sector, sometimes for 30 to 40% pay increases, mainly because I recognised the value of the pensions benefits in my total remuneration package even though it meant earning less. I hope to retire next year at 58 having been fortune enough to have worked 40 years continuously. My pension is contributory and the percentage you must pay as an employee has steadily risen over time. I can’t reduce these costs the dedications are mandatory if I want to enjoy the full scheme benefits at the end of my career.
This month my dedications towards my pension were £729, my employers contribution towards my pension this month was £1644, that’s £2373 a month or just shy of £28.5K annually. It does annoy me sometimes when people get angry at the public sector pension schemes as though they are a kick back or freebie. Most people could apply for roles in public service with similar pension benefits but chose to take alternate positions that carried different pay and conditions. That is a choice people make. Pensions shouldn't be about a race to the bottom. Your pension scheme is a key part of your conditions of service and should be viewed as part of the total salary and benefits package on offer.
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Good post, and precisely the reason I wish I had not gone down the private sector route 20 years ago after graduating. It's also why I'm trying to switch now - I understand that final salary pensions are a thing of the past, but at 44 I still have some years to go and for me I believe I will get more from a public sector role and that's aside from more than just a financial reward. If the last few months have taught me anything it's that contributing to society is important and I want to be a part of that.

No-one stood on their doorsteps applauding CEO's and MD's because it became so blindingly apparent that in society, it's not them that will help you when you're in a hole, it's the people in jobs that contribute to society and not predominantly their own bank balances

If I come across as a touch bitter towards the private sector, it's because I am. I've worked to improve their lot, not mine, my family's or my neighbours lot and that doesn't sit well with me
 
Reidydog said:
Working full time at the moment. Other half says I'm getting a Sunplan Over 50s Funeral Policy for my 50th in April. :cautious:
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Reidy it’s great when you find yourself taking out a Saga motor insurance policy . It’s one of those ‘ bug£er I’m old ‘ moments .
 
When I look at the two years thinking that's a while yet, then open my FB page & posted memory days is me alongside Bernie buying one of his books, the date was 2017, yet I only thought it was last Xmas, the time goes so, so fa
 
Erimus you’ll be amazed at how fast it’ll approach . When I had a year left to do I put a calendar on my locker door and marked off the shifts much to the annoyance of my younger colleagues
ps it’s great when your doing your obligatory online training schedule and when you complete for example manual handling and then realising you’ll never have to do that again 😎
 
Borobarmy said:
Erimus you’ll be amazed at how fast it’ll approach . When I had a year left to do I put a calendar on my locker door and marked off the shifts much to the annoyance of my younger colleagues
ps it’s great when your doing your obligatory online training schedule and when you complete for example manual handling and then realising you’ll never have to do that again 😎
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2 year Calander 👌
 
Well this is being thrown at me as I am being made redundant and turned 60 in February,
I have worked in the private sector and have a mix of pensions, and for the last few years have been salary sacrificing as much as I could, and should I have reached 66 this would have double the pot in the company scheme now. Interestingly Duffman the Employer portion of your pension is twice what you are putting in, many private sector companies will cap their contribution at 7-8%
I am still officially in the consultation process which frankly is a joke, the decision has been made and surprise surprise the multi national company I work for is offering only the statatury minimum redundancy payments plus notice. Which is a kick in the b***ks, and ignores all the "extra" commitment I have given over the last 6 1/2 years.
I will be in discussions on excatly what to do with the plans I have in place to either retire now, get another job and if I do what are my targets, do I need a stressfull role or one that just keeps the wolf from the door?
Covid of course will not help regarding employment opportunities, but I am entering a period where seriously need to decide exactly what it is I now want to do. I am luckier than some I would guess financially helped by decisions taken in the past, but in no way "wealthy".
 
Reading these posts , it’s good to see a lot of the older generation using this message board 👍🏻 It’s not just for the young uns I see.
I’m in my 40s (how the hell did that happen ) and I’m making sure I have a few hobbies to keep me busy when retirement happens but not wishing my life away just yet as some poster said can’t wait for retirement and he/she was only in there 30s 🤦🏼‍♂️
 
truck said:
Well this is being thrown at me as I am being made redundant and turned 60 in February,
I have worked in the private sector and have a mix of pensions, and for the last few years have been salary sacrificing as much as I could, and should I have reached 66 this would have double the pot in the company scheme now. Interestingly Duffman the Employer portion of your pension is twice what you are putting in, many private sector companies will cap their contribution at 7-8%
I am still officially in the consultation process which frankly is a joke, the decision has been made and surprise surprise the multi national company I work for is offering only the statatury minimum redundancy payments plus notice. Which is a kick in the b***ks, and ignores all the "extra" commitment I have given over the last 6 1/2 years.
I will be in discussions on excatly what to do with the plans I have in place to either retire now, get another job and if I do what are my targets, do I need a stressfull role or one that just keeps the wolf from the door?
Covid of course will not help regarding employment opportunities, but I am entering a period where seriously need to decide exactly what it is I now want to do. I am luckier than some I would guess financially helped by decisions taken in the past, but in no way "wealthy".
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I was in a similar position in some ways .. got to 61 and was offered a redundancy package. It was a no-brainer. I had been there 23 years (21 years great; 2 years of "who would blink first") and was offered more or less the equivalent of 3 years salary to leave. Private sector employer. I had been maxing out on my pension contributions (8% from me; 16% from the company) so the final pot was more than OK. I then had 18 months of declining offers of consultancy where competitors basically paid me to "data dump" from my head about my previous emoloyer who was the market leader. I had known that this would be time limited. I did get going by investing in/working with 2 start ups outside of the UK. Both have kept me "active" on a consultant basis, one of them looks as though it will do well. Let's see. I know I am in a lucky position. I triggered my money fund as a drawdown pension in 2019 (equity based so a bit hairy this year), and have a smaller 'final salary' pension from an earlier iteration of the company I worked for. You do need something to do - whether it's the grandparent role, hobby, voluntary work etc. Got talking to my Tesco online delivery guy. 62, made redundant from an airport related job, who was saying I should take a job like his! I was spending half the year in Brasil (now curtailed of course) but travel is there, if more difficult right now. I will be spending November out of the UK and take the quarantine when I get back (easier when retired and any 'work' I do is from home). Of course you do need an income, but you really don't need as much. As someone said - no more work shoes etc. I know I am a fortunate boomer etc. Easier said than done but it is a good move to put as much into the pension as you can, as soon as you can (if you are lucky enough to have that option) and have some plan/idea about what you may want to do after you retire ... it could easily be 20+ years.
 
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