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When Can I Retire UK? What Age.




Firstly you have to define the word ‘retire’! It simply means that you stop work – forever -  and live on whatever resources you have for this momentous time in life. Anyone can retire at any age – providing they are not contracted to work. There is no law that states you have to continue work until whatever age.

However, some may be contracted to work for a certain time, or be contracted to retire from work at a given age. Most companies do not now have a specific retirement age, for in doing so they would fall foul of the laws on ageism! When to do it is largely up to you. At what age - you can decide -is your decision. (Yours alone.)

If you wish to continue working, employers generally cannot any longer compel you to retire at a set age. (There are exceptions.)

The short answer then being – you can retire in UK when you want! There is also a long answer – or two! When to, will be decided by your own circumstances.

There are a multitude of considerations that have to be addressed. In the context of this page, we talk ceasing to work in order to live life as you want. There are many other reasons why you could stop working – not all of them in your control. Sickness, disablement and redundancy, are a few which are normally beyond your control.  It is sometimes not a choice some will have to think about!



Retirement age graphicAt What Age Can I Retire UK?

The question is often asked when in fact what is meant is ‘when can I have my pension?’ - a very different situation.

Insofar as State Pension is concerned, you have to reach the qualifying age to be able to draw the state pension. The age for this is changing on a regular basis – no longer 65 years for a man and 60 years for a woman. State pension – Old Age Pension as used to be – is dependent upon a number of factors and not everyone will get the same amount of pension!

At the present time – the age limit for withdrawal of funds from any private or employment pension is set at 55 – with exceptions. Any withdrawal before that would at least involve income tax payments. The main exception being early retirement because of health problems

Ceasing Employment and Retiring

If retirement is by choice, then firstly you have to resign from your work. As with resignation, there are set procedures on how to do it in an orderly manner. Getting up from your desk and saying “That’s it – I’m off” however tempting, is not the way forward. Firstly you have to resign from your employment.

 There are set procedures on how to resign your employment. These will have been outlined in your contract and other terms of employment. Until the due process of resignation is carried through, you are still legally bound by that employment contract.

You may interpret walking out from your job as ‘retirement’. Your employer will have a different viewpoint based upon your legal obligation to work until you properly terminate your employment. Any employment tribunal – or higher – will most certainly regard you as being in breach of your contract!

Problems with any pension scheme and lack of understanding of the full implications of retirement could leave you regretting that type of decision.

Planning for Retirement

More than ever now, retiring has to be given serious thought, with all the consequences fully understood and researched. ‘When can I retire?’ is probably the most important aspect that has to be addressed – in full!

Most people will work longer than the old pension age of 65. There could be financial reasons or a real desire to keep working.

There should be careful planning at the earliest age possible in order that you can properly decide when and continue to live your life the way you hope to.

There is the possibility that having ‘retired’ you will need to ‘come back’  to re-start work – for whatever reasons -but for most, retirement is a permanent thing.




March 9th 2017
***Child Tax Credit - From April this year the ‘family element’ of £545 per year will be abolished.***

March 8th 2017
**MPs are calling for a halt to the accelerating roll-out of Universal Credit as the ongoing problems are causing undue and unnecessary hardship**


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