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When do you Plan to Retire?

Once upon a time when you started work, unless you were in an occupation such as professional sports, you already knew when you were going to retire. The law was clear and most occupations followed the regulations. Nowadays increases in pension age allied to pension freedoms means that people have far more choice in their retirement dates. And that is good, enabling people to alter their plans in accordance with any changes in circumstances.   

However, some occupations still face restrictions; hampering those who would like to continue to enjoy a productive working life. Now, one of those restrictions is being loosened with the mandatory retirement age for judges, magistrates, and coroners being raised from 70 to 75. Commenting on the change The Lord Chancellor, Robert Buckland QC MP, said: “Our judges, magistrates and coroners are world-renowned for their excellence, expertise and independence. It is right we hold on to them and do not cut off careers unnecessarily.” 

If you are looking for advice on pensions, or if your situation has changed and you may therefore need to review your existing pensions or investments, contact Beckworth by using one of the links on our website. 

Image: Oxfordian Kissuth, CC BY-SA 3.0, via Wikimedia Commons