55 over and out .

[LouBarlow]

I retired last year at 55.

I haven't taken any of my RM pension and don't plan to until 60.

No job and no intention of getting one, and thoroughly enjoying all my leisure time.

There's more to work than RM and there's more to life than work!

It’s easy to say that but unfortunately the majority of the workforce don’t have the same financial security you have

I agree, it's much easier to say it than do it.

It definitely wasn't easy and I made plenty of sacrifices along the way.

The reason Robert retired at 55 and is able to not draw his final salary till 60, could be down to realising at a very early age, you have to put money away and invest in your future?

That isn’t always the case. There are many factors. I’ve known people who are able to retire earlier because they have inherited property, for example.

[1617mel]

OK everyone, I'm probably the other side of the coin , I retired at 65 ,this year, served 18 years with RM, will pay rent for the rest of my life, the income I get will maybe just help me manage through, I consider myself very lucky in life, might need a knee replacement sometime in the near future. So good luck to you all hope all your plans happen, all you people leaving the forum will have to be reborn again! X

[RobertT]

The reason Robert retired at 55 and is able to not draw his final salary till 60, could be down to realising at a very early age, you have to put money away and invest in your future?

Correct!

I first took an interest in my pension/retirement in my mid 20's. It was then I decided I wanted to retire early and it was then I realised the RM pension wouldn't be enough to do that, and it was still all final salary with an NRA of 60 at the time.
Every annual statement since has confirmed what I thought at the time.

If I'd started later I wouldn't have been able to save as much and it would've had less time to grow. So starting early was the biggest factor for me.

[NWpostie]

The reason Robert retired at 55 and is able to not draw his final salary till 60, could be down to realising at a very early age, you have to put money away and invest in your future?

Correct!

I first took an interest in my pension/retirement in my mid 20's. It was then I decided I wanted to retire early and it was then I realised the RM pension wouldn't be enough to do that, and it was still all final salary with an NRA of 60 at the time.
Every annual statement since has confirmed what I thought at the time.

If I'd started later I wouldn't have been able to save as much and it would've had less time to grow. So starting early was the biggest factor for me.

Same here, I've been putting in £100 a week into my flexiplan and saving on the side in my bank account being sensible with my spend, mortgage being paid off early made it easier to save, it's still not quite there so I'm keeping up the saving habit relying only on what's left over after disbursements, a few more years I should be ready.

[twoloops]

Wise move this Kretinsky will soon have his fingers into the pension fund, get it while you can

[Hyrrokkin]

Wise move this Kretinsky will soon have his fingers into the pension fund, get it while you can

How will he do that tell us ????

[NWpostie]

Wise move this Kretinsky will soon have his fingers into the pension fund, get it while you can

How will he do that tell us ????

Kretinsky will not get his hands on the pension fund, it's ring fenced and legally protected, the Mirror pension scandal was the reason for the legal separation so bosses can't rob it.

[TrueBlueTerrier]

In general, businesses are not allowed to simply "raid" or take money from employee pension funds without proper authorization and following strict legal guidelines. Pension funds are intended to be held in trust for the benefit of the employees, and misappropriating those funds would be considered a breach of fiduciary duty and potentially illegal.

However, there may be certain circumstances where a business can access or make use of pension fund assets, but this would typically require approval from regulatory bodies, pension fund trustees, and adhere to specific rules and regulations.

Rather than provide specific code examples, which would not be appropriate for this topic, I would suggest checking out some of the following resources for more information:

"Can Employers Take Money From Pension Funds?" - Article from The Balance: https://www.thebalance.com/can-employer ... ds-2389035

"Pension Fund Raiding: What It Is and How to Protect Your Retirement" - Article from The Motley Fool: https://www.fool.com/retirement/2019/06 ... otect.aspx

"Pension Fund Raiding and the Decline of Defined Benefit Pensions" - Academic paper from the National Bureau of Economic Research: https://www.nber.org/papers/w15655

These resources provide more detailed information on the legal and regulatory aspects of pension fund management and the restrictions around businesses accessing or misusing those funds. The specific laws and regulations can vary considerably by country and jurisdiction, so it's important to consult with legal and financial professionals for guidance on your particular situation.

[Hyrrokkin]

Wise move this Kretinsky will soon have his fingers into the pension fund, get it while you can

How will he do that tell us ????

Kretinsky will not get his hands on the pension fund, it's ring fenced and legally protected, the Mirror pension scandal was the reason for the legal separation so bosses can't rob it.

I know i was been sarcastic - the other poster was scaremongering