Retirement: Any regrets?

[CptDanjou]

No. unlike the dole bludgers I have earned it

Reminds of a retired rural Rozzer I knew of , he joined at around 20 years old and did 22 years retired at around 42 , idle cnut never worked another day after , personally I think its wrong that the tax payer should finance it.

 

[Choux Bun]

As a miner, my father worked hard all his life and died at 54. I'll enjoy my retirement and remember how lucky I am.

My Dad retired at 57, having been a hard working miner. He and Mum decided to up sticks, leave the Midlands and move down to the west country. They bought a bungalow with a sea view, planted out the gardens and settled in. Dad bought himself a boat, learned how to handle it and he and the dog would go sea fishing for hours. After a while Dad found himself a local part-time job (to pay the paper bill), which he did until he was 80. He always said retirement was the best part of his life. He died happy a couple of years ago aged 87.

 

[Choux Bun]

Or do what I do and live in a bungalow

No thrills in that!!

 

[wetsmonkey]

Reminds of a retired rural Rozzer I knew of , he joined at around 20 years old and did 22 years retired at around 42 , idle cnut never worked another day after , personally I think its wrong that the tax payer should finance it.

How did the taxpayer fund that?

 

[RedDinger]

As you approach retirement obtain a pension forecast from DWP and check entitlement and see if any contributions need to be made..
If a higher rate tax payer there can be advantage from a final pension contribution and then taking some of your tax free lump sum. Like all these things plan it in advance

I've done all the sums and planning, including the State Pension forecast. I've created a spreadsheet where I can change monthly spending which calculates how long my money will last. I've also got a financial planner looking after one of my pensions. I'll be taking advice from him on the tax situation.
I still remember the 5 P's.

 

[ugly]

Reminds of a retired rural Rozzer I knew of , he joined at around 20 years old and did 22 years retired at around 42 , idle cnut never worked another day after , personally I think its wrong that the tax payer should finance it.

Why I he financed by the taxpayer, surely the old plod pensions were good because of the amount paid in?

 

[Wee Hawken]

Why I he financed by the taxpayer, surely the old plod pensions were good because of the amount paid in?

Realistically, if you retire at age 42 and live for, say, another 40 years, the costs of your pension are likely to vastly exceed what you have had to put in over the years. 22 years service and 40 years final salary pension: go figure!

 

[Border_Reiver]

Forgetful? Try this.... keep your stairlift set at full speed so you'll get to the top before you forget why you wanted to go up there in the first place!!

.... and on a lighter note ... not too fast otherwise this could be the experience

 

[FarTooSerious]

Do none of you retiree`s feel any guilt for doing fcuk all ? assuming you are in good health and under 65 dont you feel you should be doing something productive ?are you that much better than idle dole drawers?

I’m 67 but I worked nearly 48 years for my 5 pensions. I even worked past my 65th birthday to finish a project - which got me into social benefits clawback territory.
Today, almost 3 years into retirement, I took a leisurely trip to town to visit the bank and cable company. Then I went for coffee here...

I have no problem being retired!

 

[wetsmonkey]

The only government organisation that gives an immediate no contribution pension after 22 years is/was the military.

The police pension was 30 years up until 2006, when it changed to 35 years with contributions of between 12.5 and 14%.

Nobody in the police retires after 22 years on an immediate pension at 42 for the rest of their life. Unless it is a medical pension that the police have accepted responsibility for and it would need to be a severe condition to be able to never work again.

 

[Dan Gleebles]

My dad escaped the coal mine where everyone else in the family (including my gran) and most of the villagers worked, and after serving in Malaya and Aden, started a job as a fraud Investigator for the DHSS, where he stayed until the rules on retirement turfed him out at 65.

He was a lost soul, having packed up on the Friday and sat washed, shaved, suited and booted on the Monday morn with nowhere to go.

I steered him to SSAFA, where I knew his encyclopedic knowledge of benefit claims and allowances would be put to good use.

He became a case worker and was a new man, with easy connection to people he could relate to, giving him an exceptional sense of well-being.

I'm quite sure it literally saved his life.

 

[Richard Headicus]

Forgetful? Try this.... keep your stairlift set at full speed so you'll get to the top before you forget why you wanted to go up there in the first place!!

Tried that. Hit the stop at the top and was catapulted out the window. Never fear, I'm making good progress.

 

[shiny_arrse]

Tried that. Hit the stop at the top and was catapulted out the window. Never fear, I'm making good progress.

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[CptDanjou]

The only government organisation that gives an immediate no contribution pension after 22 years is/was the military.

The police pension was 30 years up until 2006, when it changed to 35 years with contributions of between 12.5 and 14%.

Nobody in the police retires after 22 years on an immediate pension at 42 for the rest of their life. Unless it is a medical pension that the police have accepted responsibility for and it would need to be a severe condition to be able to never work again.

The guy I quoted is around 70 years old now , his pension is often gossiped about in the village.

 

[wetsmonkey]

The guy I quoted is around 70 years old now , his pension is often gossiped about in the village.

What pension did he receive after 22 years police service?

Given his age, how do you know what he did or didn’t do in the police for the whole of his career?

 

[blurp]

The only government organisation that gives an immediate no contribution pension after 22 years is/was the military.

The police pension was 30 years up until 2006, when it changed to 35 years with contributions of between 12.5 and 14%.

Nobody in the police retires after 22 years on an immediate pension at 42 for the rest of their life. Unless it is a medical pension that the police have accepted responsibility for and it would need to be a severe condition to be able to never work again.

Under the old pre 1987 schemes and including the 1987 scheme, retirement could be applied for at the 25 year point. As far as I can remember, some of this 25 could be made up from other pre police employment schemes. However, I broadly agree with you in that a pre 25 year pension would be unlikely unless you were and would remain unfit for the duties of a police constable If you got to 25 years and decided to retire, you got a lot less than if you had done your full 30 years. Military service could be transferred into pre '87 schemes ( maybe it still can) so maybe this chap was a boy soldier which would explain the discrepancy shown here.

In any event,when I served, police pension was fully contributory out of your wages. There was no employer contribution. Basically now serving Constables pay for the retirement of their colleagues out of their wages. There are political reasons for this. This makes the pension take out from wages quite onerous unless you opt out. You could not opt out in the 1987 and previous schemes.

Anyways, the number of colleagues I saw retire and drop dead a couple of years into their retirement is quite upsetting. I don't begrudge him his retirement one jot or any6body else in any job where they have saved up in their working lives.

I have had a bit of a shock this year with long standing injuries and I think that I will finally be finishing work soon.

This thread has been most interesting and has opened my eyes to the " they can't do without me" myth.

 

[Dan Gleebles]

The guy I quoted is around 70 years old now , his pension is often gossiped about in the village.

Village gossip is great for morale, except for the subject of the tittle tattle, obvs.

I like to indulge in it at every opportunity, particularly if the gossip is without foundation.

I'm sure you feel the same.

 

[wetsmonkey]

Under the old pre 1987 schemes and including the 1987 scheme, retirement could be applied for at the 25 year point. As far as I can remember, some of this 25 could be made up from other pre police employment schemes. However, I broadly agree with you in that a pre 25 year pension would be unlikely unless you were and would remain unfit for the duties of a police constable If you got to 25 years and decided to retire, you got a lot less than if you had done your full 30 years. Military service could be transferred into pre '87 schemes ( maybe it still can) so maybe this chap was a boy soldier which would explain the discrepancy shown here.

In any event,when I served, police pension was fully contributory out of your wages. There was no employer contribution. Basically now serving Constables pay for the retirement of their colleagues out of their wages. There are political reasons for this. This makes the pension take out from wages quite onerous unless you opt out. You could not opt out in the 1987 and previous schemes.

Anyways, the number of colleagues I saw retire and drop dead a couple of years into their retirement is quite upsetting. I don't begrudge him his retirement one jot or any6body else in any job where they have saved up in their working lives.

I have had a bit of a shock this year with long standing injuries and I think that I will finally be finishing soon.

This thread has been most interesting and has opened my eyes to the " they can't do without me" myth.

Pensionable service for soldiers in those days didn’t start until 18, so the most he could have taken over to the police is 2 years mil pension, which would equate to maybe a year of police pension. I still can’t see anyway that he could have left at 42 with a pension that would allow him to never work again, unless he was seriously incapacitated.

 

[Ayatollah]

I have no regrets, but you have to keep mentally and physically occupied.

 

[stantheman]

I joined the Police in 1980 and was able to transfer about 4 years of my Army service into my Police pension . I retired then at end of 2006 with my full Police pension and went straight in working as a Civvy. Firstly in the immigration side of things and then up until last Friday as a Firearms Enquiry Officer. 11 years doing that so another decent lump sum/pension. All paid for by contributions from my wages. It used to be 11% into the pension pot. Retired cops are not going to be massively wealthy on their pensions unless of course you end up as a more senior officer. I hasten to say I wasn't !