The minimum age to claim State Pension is now age 66, however this is due to increase to 67 soon. If you choose to, you could still continue to work past this age or even blend your retirement. We are all entitled to a State Pension if we have made some contribution into this system. One option that is increasing in popularity is the retire and return option. This is where people retire, draw pensions and return to work as part time at two or three days a week for example. Equally more people wish to continue to work whilst using a workplace pension before then drawing a State Pension. For many new recipients the State Pension is approximately £175 per week, and this flat rate State Pension has seen an increase in the value pound for pound since 2015. There is a lot of flexibility now introduced, making pensions more easily accessible. Seeking professional financial advice could help you to make the most of your pension entitlements.
Listen to Ray Black talk with Melvin Pryor about the state pension age.
