retire early?

[zz666]

I asked for a personalised quote if I retire at 55. To cut a long story short I wont be taking any of the options(lose too much money). Do I need to send word back to the pension centre I wont be wanting pension early, or just ignore the letter. It isnt very clear what you do. Does anyone know.

[RobertT]

If you don't send the forms back, they won't act on them. So I wouldn't bother.

[TheTrolleyMan]

Just shred the forms , nothing signed nothing's to be done

[Patrick301]

I asked for a personalised quote if I retire at 55. To cut a long story short I wont be taking any of the options(lose too much money). Do I need to send word back to the pension centre I wont be wanting pension early, or just ignore the letter. It isnt very clear what you do. Does anyone know.

do you loose much at 60

[heapsy]

I asked for a personalised quote if I retire at 55. To cut a long story short I wont be taking any of the options(lose too much money). Do I need to send word back to the pension centre I wont be wanting pension early, or just ignore the letter. It isnt very clear what you do. Does anyone know.

do you loose much at 60

Nothing from your NRA60 pension. 5% for every year taken early, from your NRA65 pension.

For what it's worth, I'm planning on leaving at 60, but leaving the NRA65 pension until 65. There is always the argument about taking early or not. I intend to use investments to provide a tax free income along side the NRA60 pension and, a modest private pension I am also taking at 60. I intend to take the maximum lump sum from the NRA65 when I take it at 65. I have worked out that I could retire at 60, but not pay any tax until I'm 65. Remember, where you might gain from taking a pension early, you do have the extra tax on the income to pay. Once you reach the age you should have taken the pension, you are, in effect, repaying the pension you had earlier, back, by receiving less in future. It is all about the life expectancy thing. Remember though, lump sums of cash would in low interest times such as now, give little return. needs proper planning.
The top and bottom of it is that you CANNOT beat the system. It is obvious from the dozens of posts, that people are thinking they can do just that. They can't.

[cloherty1976]

I asked for a personalised quote if I retire at 55. To cut a long story short I wont be taking any of the options(lose too much money). Do I need to send word back to the pension centre I wont be wanting pension early, or just ignore the letter. It isnt very clear what you do. Does anyone know.

do you loose much at 60

Nothing from your NRA60 pension. 5% for every year taken early, from your NRA65 pension.

For what it's worth, I'm planning on leaving at 60, but leaving the NRA65 pension until 65. There is always the argument about taking early or not. I intend to use investments to provide a tax free income along side the NRA60 pension and, a modest private pension I am also taking at 60. I intend to take the maximum lump sum from the NRA65 when I take it at 65. I have worked out that I could retire at 60, but not pay any tax until I'm 65. Remember, where you might gain from taking a pension early, you do have the extra tax on the income to pay. Once you reach the age you should have taken the pension, you are, in effect, repaying the pension you had earlier, back, by receiving less in future. It is all about the life expectancy thing. Remember thoght, lump sums of cash would in low interest times such as now, give little return. needs proper planning.
The top and bottom of it is that you CANNOT beat the system. It is obvious from the dozens of posts, that people are thinking they can do just that. They can't.

When I first started 60 was the age for retirement and I am sticking to it if not earlier. Your points are spot on

[heapsy]

I asked for a personalised quote if I retire at 55. To cut a long story short I wont be taking any of the options(lose too much money). Do I need to send word back to the pension centre I wont be wanting pension early, or just ignore the letter. It isnt very clear what you do. Does anyone know.

do you loose much at 60

Nothing from your NRA60 pension. 5% for every year taken early, from your NRA65 pension.

For what it's worth, I'm planning on leaving at 60, but leaving the NRA65 pension until 65. There is always the argument about taking early or not. I intend to use investments to provide a tax free income along side the NRA60 pension and, a modest private pension I am also taking at 60. I intend to take the maximum lump sum from the NRA65 when I take it at 65. I have worked out that I could retire at 60, but not pay any tax until I'm 65. Remember, where you might gain from taking a pension early, you do have the extra tax on the income to pay. Once you reach the age you should have taken the pension, you are, in effect, repaying the pension you had earlier, back, by receiving less in future. It is all about the life expectancy thing. Remember thoght, lump sums of cash would in low interest times such as now, give little return. needs proper planning.
The top and bottom of it is that you CANNOT beat the system. It is obvious from the dozens of posts, that people are thinking they can do just that. They can't.

When I first started 60 was the age for retirement and I am sticking to it if not earlier. Your points are spot on

It was for me, back in 1988, and I also intend to make it so my friend. Cannot imagine, nor can I understand anyone wanting to work a day over, at least, not in our job. Go off and stack shelves for a few hours if you must, anything but carry on at RM.