anyone on here working after retirement age,65 in September decided to work on a bit longer,can’t see myself sitting at home all day to be honest,have not really give it a thought, and now its looming up on me,jobs easy enough mainly trunking, no stress, any advise would be helpful, do I defer my pension/reduce hours or what.
My brother is past pension age and still works, my next door neighbour will be 70 this year and still works, I have another relative up in York, also around the 70 mark that still works. With a HGV license (or not) you’ll always get work past normal retirement age.
Can’t comment on pensions, but I’m sure they all still draw the state pension and just pay tax and ni on their earnings?
Mate of mine was 65 last year still works has deferred his pension also remember you might not pay tax NI you won’t pay for pescriptions eye test etc think he pays tax as he has a pension for another job but think the tax rules change check it out
Can speak to him & ask if you want
I am retired now but I kept working for three years after retirement age. I also deferred my pension, but we got a better deal than the current one.
Once you reach retirement age you no longer pay NI so that’s 12% or so that they won’t be taking out of your pay. As to whether you defer your pension; it depends on how long you expect to live. You get an increase of just under 5.8% on your state pension for every full year you put off claiming so if you would get the basic £115.95 per week and defer for a year, that increases to £122.68.
It is not simple. First you have to get a forecast of what your actual state pension will be. gov.uk/state-pension-statement
Once you have that you can work out what it would go up to as above. Then you decide if you will live long enough to benefit - Basically you are putting £100 odd away as savings each week which will come back to you as that increase in pension for the rest of your life. Say you defer for one year and die five years later. You will have deferred £6029 for an increase of £360 per year. This means that you will get back (£360*5) £1800; a pretty poor return for the "6000 you invested. You need to live at least 17 years to get your money back, but after that it’s all profit.
Statistically, you can expect to live until you are 80, but that is pretty variable so you need to think about how old your parents were and your own lifestyle before you make a decision.
Any income, including pensions is taxed. If you have another pension they will tax you on both that and your earnings.
A few lads in their 70,s still do the odd trunk trailer swap where i work,they say it gets them out of the house and pays for a car or holiday each year,fair play to um i say,they are all very happy fellas and do more work and less moaning than some of the young uns 
If a driver has not got a decent pension sorted, going from £600 a week to the pittance the government pays will be a shock to the system. If it was me, if I was still fit and intended to carry on taking foreign holidays every year, I reckon I would carry on.
A firm I worked for had 3 old guys 70ish still working for them tramping, probably as it was a good place to work.
One day one of them was struggling to pull over the sides of a tilt 
, I got out and basically done it for him and he offered me money . Obviously I told him not to be daft, so he handed me about 50 quids worth of MSA meal vouchers, he parked on them regularly but never bothered to eat there, or use the vouchers.
Think it got me egg & chips and a cup of tea 
I got out at 60, I’m now 72 and I’ve never regretted it for a moment. I enjoyed my job, but retirement is the best occupation ever! 
Chap at our place is past retirement age and draws a few pensions but always used to moan about the amount of tax he was paying, he ended up going from 5 shifts a week to 4 because it worked out better and now refuses to work a fifth if asked as it’s barely worth turning up due to the extra tax he pays. To be honest the guy is a bit of a tool so I’ve never asked the full details as I’m a fair few years away from caring anyway.
Where i am they’re in no rush to push you out the door, it’s ■■■■ easy too, so as long as i can keep me licence valid i’ll carry on a part time basis, maybe couple of days a week, only do about 42/43 hours on average anyway so if needed full time wouldn’t exactly be a hardship, but i’ve paid enough bloody taxes over the years that they’ve ■■■■■■ up the wall so being taxed on every ha’penny won’t be top of me list of things to do.
But you never know, got another 6 years to go in theory and an awful lot can happen in that time.
If you rent then be careful about deferring a state pension or not cashing in a private pension because all it might do is pay for what guaranteed tax credit might pay for
No point in having X amount each week if all it does is to reduced any benefit by exactly that amount
Everybody has different circumstances so make sure you know yours in relation to tax and benefits
We had a fair few who continued whilst we did chilled work ( just open back door reverse on bay type of work ) but as soon as it became tesco ( pulling cages on / off ) they retired ,and who can blame them ,then when boxes arrived some reappeared on a casual basis ,then disappeared when that work was moved elsewhere ,can’t see them comming back for flat bed work ( if it ever arrives ) ,but if the rumour of trunking parcels comes then I can see them back on a casual basis again .
steviebyday:
anyone on here working after retirement age,65 in September decided to work on a bit longer,can’t see myself sitting at home all day to be honest,have not really give it a thought, and now its looming up on me,jobs easy enough mainly trunking, no stress, any advise would be helpful, do I defer my pension/reduce hours or what.
I took retirement at 65, lasted a month, then went back to work, I have two pensions plus my wife’s, so although we can live comfortly, by working part time, it allows us to have more money to enjoy what we want to do.
If you can try & find a job that allows you to do 4 on 4 off, that way you can have the best of both worlds.
Also if some jerk is giving you some grief you can tell him to shove it, you can always fall back on your pension till you find something else.
Dave.
davemackie:
steviebyday:
anyone on here working after retirement age,65 in September decided to work on a bit longer,can’t see myself sitting at home all day to be honest,have not really give it a thought, and now its looming up on me,jobs easy enough mainly trunking, no stress, any advise would be helpful, do I defer my pension/reduce hours or what.I took retirement at 65, lasted a month, then went back to work, I have two pensions plus my wife’s, so although we can live comfortly, by working part time, it allows us to have more money to enjoy what we want to do.
If you can try & find a job that allows you to do 4 on 4 off, that way you can have the best of both worlds.
Also if some jerk is giving you some grief you can tell him to shove it, you can always fall back on your pension till you find something else.
Dave.
Most I knew were casual ,so could pick and choose as they wished
everybody knows their limits so if you keep passing the medical go for it, I am 68 I sold my truck a few years back and bought a minbus, ive done the cpc which covers hgv and psv which I have, so I just do airports and school runs, but I have a mate who rings me every few days to help and to me its great back behind the wheel again, only problem it was a Scania topline 56 reg great on power a tad faster than it should be, and its a truck ive always wanted, downside its the most uncomfortable thing ever or is my feet to big, cant fault it other than that but bloody hell 
, quiet, powerfull,good looker,high up, but where do you put your feet
Tony Bradfield was doing Morocco round trips in his eighties as an owner driver, his nephew is on Trucknet, Will.
TC.
Personally I think once you reach retirement age you should move over and let someone younger have a bite of the cherry. I hope I am able and certainly plan to finish at 60-65.
emmerson2:
I got out at 60, I’m now 72 and I’ve never regretted it for a moment. I enjoyed my job, but retirement is the best occupation ever!
Ditto.
I retired at 60, not from trucking as I’d given that up some years earlier to go into engineering, but I’d kept my licence renewed when it came up for renewal.
After two weeks retirement I was bored stiff and went to an agency, told them I only wanted to work weekends and bank holidays when the good rates are paid.
After six months I got onto my present firm, doing two night trunks a week, Sundays and Fridays, fetches me in 12 grand a year, plus I have a very good state pension and a couple of private pensions, never been so well off.
I’m also now coming up for 72.
I pay a lot of tax, but no National Insurance, my wife pays no tax as she doesn’t earn enough, but to me the job is a paying hobby, easy work, and after doing 12 years middle east, doing a 400 mile round trip trunk run is nothing, but when one of our younger drivers moans that Leeds is too far from Stoke so can he have a shorter run!, makes me LMFAO!
Only problem with working after 65 is the yearly fight with DVSA for another year driving.
It really is a personal choice and with most I fear it all boils down to money. I was lucky to be able to retire at 58 and can afford to never work again although I do the odd job for a friend if I feel like it just to keep my hand in more than anything.
I would say if you can afford to retire do it because life is too short and you need to enjoy yourself while you can.
Unfortunately there will be some who really cannot afford to retire so they will keep on working and then there will be the ones that get bored because they do not have any hobbies so they will continue to drive.
It is correct what they say about planning for retirement!