Mar

4

working after retirement

Filed Under retirement 

urban raptor

Chris emailed me the following question:

Can my company insist on my retirement at state retirement age or do I have the right to continue my employment?

The answer I’ve found (via the TUC) is that unfortunately, yes, your employer can insist that you retire at state retirement age, but only if the company’s normal retirement age of 65 or above. They cannot make you retire younger than 65 as that’s against age discrimination legislation. It’s possible that making you retire at 65 could be found to be against EU law, but that hasn’t been tested in the courts.

On the positive side, it has become easier to work past your normal retirement age. If you have a company pension, you no longer have to leave your job to get the pension, although whether you can draw some or all of your pension whilst working for the same employer will depend on the rules of your scheme. (More information on working after retirement.)
If you want to carry on working past state retirement age, you can defer your state pension and either get a larger pension when you do decide to start taking it, or get a taxable lump sum (with interest) to cover the pension that you didn’t take. (More information on State Pension Deferral.)

If you’ve got any questions, please feel free to contact me, and I’ll do my best to find an answer for you.

Image by mugley 

If you like what you're reading, why not leave a comment below, subscribe to my feed, or check out some of my best posts.

You might also like to read:

Comments

One Response to “working after retirement”

  1. Mrs. Micah on March 5th, 2008 11:16 pm

    I’ll have to do something, unless I’m very infirm. But I don’t know if I’d keep going with a “career.”

2 pings

  1. Great Week Roundup 3-6-08 on March 7th, 2008 2:02 am

    […] writes on working after retirement. I plan to do something after retirement so I won’t be horribly […]

  2. 1000 subscribers on March 7th, 2008 2:49 pm

    […] working after retirement from Plonkee Money- First I LOVE the photograph, absolutely beautiful. Where I work, we have quit a few people that do this. I personally don’t plan to work after retirement, plan to RV around America and head over seas. […]

Leave a Reply