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Topic Title: Working after retirement
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Created On: 18 October 2011 10:21 AM
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 18 October 2011 11:39 AM
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jakegreenland

Posts: 66
Joined: 04 May 2009

Pretty sure it's ok - pensionable income is treated as regular income for tax purposes so you just add any income received from other sources onto that for the purposes of income tax.

The directgov website seems to think it's fine too.

directgov website

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Jake Greenland, CEng MIET.
CCIE #22595
 18 October 2011 12:30 PM
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DavidParr

Posts: 238
Joined: 19 April 2002

In my experience it is quite common for people to take their pension and move elsewhere (providing they are 55 years or older). I used to work for Marconi, and many people did this when the company folded.
The only possible drawbacks are that you are unable to work again for that company, and the pension will normally be reduced if you have taken early retirement.

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David Parr BSc.CEng MIET
PRA
 18 October 2011 03:02 PM
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DavidParr

Posts: 238
Joined: 19 April 2002

Painful times - I hope it goes well for you, and do be carefull about the early retirement pension reduction formula. In my case, I took the decision to jump ship before they had the chance to push me, so I still haven't taken my pension

The whole nasty Marconi debarcle led me to a career change which, after a very difficult period, was one of the best things that happened to me career wise, so keep a positive outlook - there are good jobs out there.

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David Parr BSc.CEng MIET
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 18 October 2011 09:46 PM
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CliveM

Posts: 228
Joined: 09 October 2002

There is nothing to stop you taking a pension and continuing in full time employment. I did this some years ago with a voluntary redudancy scheme, took the company pension and started working for another company two days later. As somebody else says income from a pension scheme is just regarded as income as far as our friends in the revenue concerned.

From your note I assume you are not talking about state pension but there is no bar to being in receipt of state pension and continuing to work.

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Clive Maude
 19 October 2011 02:35 PM
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amillar

Posts: 1918
Joined: 28 May 2002

Pensions and employment are now pretty much completely decoupled as I understand it. You no longer "retire" from a job, you resign, and a company can no longer retire you, they have to dismiss you. http://www.acas.org.uk/index.aspx?articleid=3203

So I guess its up to the trustees of pension plans at what age they start paying out. There's certainly nothing to stop you earning alongside - plenty of ex-MOD and ex teachers do it!

Interesting times ahead...

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Andy Millar CEng MIET CMgr MCMI

http://www.linkedin.com/in/millarandy

"The aim of argument, or of discussion, should not be victory, but progress." Joseph Joubert
 19 October 2011 06:10 PM
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westonpa

Posts: 1771
Joined: 10 October 2007

Originally posted by: mbirdi

Thanks for the link Andy.


Let's hope you do not retire from these forums else it would not be half as much fun.

Regards.
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