Pension minimum age – GOING UP! But you can still retire earlier than the minimum pension age, and here we look at how to retire early. The minimum pension age just relates to the age for claiming benefits within a pension fund.
Retirement age UK – pension age increase yet again.
In September 2020, the UK government confirmed plans to increase the minimum age for claiming private and workplace pension benefits from 55 to 57 in 2028.
We look at the reasons why this increase in the state pension age is happening, who will be affected, the arguments against this increase, and we explore your options so that you can still plan to retire earlier than age 57. So stick around to the end to find out just how.
***Support This Channel***
If you find this content useful, why not help to support this channel and help it grow?
Buy Me A Coffee:
***Recommended Reading***
Retirement Planning Expert 2021/22:
FT Guide Saving & Investing for Retirement:
The Good Retirement Guide 2021:
Safety First Retirement Planning:
Your Retirement Salary:
Happy Retirement the Psychology of Reinvention:
***Personal Pension Plan***
Open a SIPP today:
***Related content***
When can you AFFORD to retire?:
How to Start a Savings Plan: 50/30/20 Rule of Money:
How to invest in the stock market for beginners – how to choose an investment platform UK:
***EQUIPMENT USED***
Camera: Nikon D3200 DSLR:
Lens: Nikon DX AF-S NIKKOR 35mm 1:1.8 G:
Camera light: Neewer CN-216:
Microphone: Boya Lavalier BY-M1:
Tripod: Tairoad T1-111:
Camera batteries: Neewer compatible with Nikon D3200:
Lighting batteries: Neewer:
Memory Card: Sandisk Extreme Pro 128GB:
Legal Disclaimer – Some links found in the description box of my videos may be affiliate links, meaning I will make a small commission on any purchases you make through my link. I only recommend products that I use and like. Buying through these links is at no extra cost to you, it’s just one more way to support me and my channel! 🙂
Disclaimer:
DISCLAIMER: This is NOT financial advice, it is financial education. Be sure to seek a professional financial advisor for advice tailored to your needs.
Keywords:
Bouncing Back, state pension uk, pension age increase UK, retirement age increase 2020, state pension, state pension age, uk state pension, pension planning uk, how much do i need to retire, how much do you need to retire early, how much money do you need to retire, retirement planning uk, basic state pension uk, british state pension, how much is the full state pension, how much is state pension, how much state pension will i get, when will i get my state pension, uk pension
#ukstatepension #statepension #statepensionage
Follow me on:
Twitter: @BouncingbackR
Instagram: @PARSON.HELENA
YouTube channel: …(read more)
LEARN MORE ABOUT: Retirement Pension Plans
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Got to say Helena, really enjoy watching your videos, I've learned a lot already from you and been able to put some good plans together for the far future.
Hi there, I'm a physiotherapist who worked for NHS for about three years and I'm at age 55 years. Can I retire at my age although I only paid for three years pension?
We the pension age people have worked all our life for our pension. But Government farts always call it a benefit . A benefit is what you mob pay idle fkrs for doing nothing . I have been collecting my pension for 8 years now ,what I worked hard for . love it . And I couldn’t care less about the shit the county is in .
Love your videos, just found the channel so working back through them.
Your Majesty, the slaves are living longer and they're begging for food and shelter!
The King:
THEN MAKE THEM WORK UNTIL THEY DIE!
Minimum wage job, no chance of retiring. When I've had enough I'll just commit suicide and be done with it.
I'm 62 with no debt and a net worth of 2.5 mil, average annual income for over 40 years is 400k. My point is that most people can do this, it just takes planning and consistency. Invest in Crypto for is one of the main source of financial backup currently.
Where does all the money go when people die before reaching pension age ,I wonder ?
Precisely…there's a drop in life expectancy because the younger generations are not as physically fit as current retiries. They were far more active and ate more healthily…and together with drugs keeping them alive..eg: preventing cardiovascular diseases etc…they live longer..hence we have to work longer to pay for their pensions. Subsequent generations will die younger cos we live less healthy lifestyle. Better to have a good life then go. No point living to old age and end up lingering in a care home.
Guess who was born in June 1973? 🙁
Considering the amount of youngsters with NO jobs or prospects, and the amount of people over retirement working, it's about time this government sat up, took note and acted.
Political elite, lol, don't make me laugh.
Here's a thought, why not bring in the mandatory retirement age for men an women too 60.
At 59 years and 6 months, little Johnny or jilly, on leaving school get options of what they'd like to do on leaving school.
Johnny wants too be a bus driver, and jilly wants to be a nurse. So 6 months before Mike a bus driver of 20 years plus and Debbie a nurse of 24 years will mentor these individuals for their last 6 month till they retire. The first month Mike tells Johnny just to watch and ask any questions he wants the same goes for jilly mentored by Debbie.
As the months pass, Mike and Debbie take a less active part in the job role, and Johnny and Jilly start taking more and more of the job over. At the end of the 6 months, Johnny and jilly are proficient at the job roles, Mike and Debbie have wound down too retirement.
The bonus is, Johnny and jilly work, they can pay taxes, have aspirations to buy a home, have holidays and a family, as opposed to trawling the streets, causing a nuisance or mugging elderly people and getting up too no fkin good.
Mike and Debbie get to retire, enjoy life before getting heaven forbid an illness which takes their life before they get to enjoy retirement, they're not afraid to go out of an evening so spend quality time work friends and don't have to worry about antisocial behaviour or getting fkin mugged.
Fkin hell, there's a thought, so if someone who more intellectual than I, can get this idea into the fkin brain of some educated member of Parliament, maybe, just maybe the PM Mr B Johnson could implement this action and put it into law.
After all from the cradle to the grave minus retirement does have to be common place
Start your own business, buy property, easier said than done if you earn minimum wage and can't afford to save a single penny. I can't help but feel you are middle class. What is your helpful advice to people who can't afford to save or buy property to retire early? I don't think there is any, apart from marry somebody with money or win the lottery!
Why is there a total media blackout over the state pension age increase? Nothing about it on TV at all. This is a major news story affecting millions, but not a single peep about it on any news channel on TV, why?????
So my plan to retire at 55 is still on, makes a change for things to work out.
Thank you for the video. I was planning to more than double my pension contributions after transferring them to one platform (vanguard).
While I'll still be doubling my pension contribution, along with your and my financial advisor's help to reduce fee's. I think I'll stick at that and divert any additional funds into a stock and shares ISA to help bridge the gap later on. It's important given I'm in quite a physical job and while MP's can claim age increase figures (or decrease +- afew years) this doesn't mean everyone can still do the job they've spent their whole career doing indefinitely. Not everyone has a desk job!
Very informative thanks!
You can still retire early despite the minimum pension age going up – watch to find out how