Today’s Tony Talks Wealth episode discusses delaying retirement, and why many have now considered working for much longer than they previously hoped.

Key Takeaways

  • The pandemic has forced a nationwide rethink of finance in general, and how we manage our money. As a result, many over the age of 50 have delayed plans to retire.

  • While some will choose to work for longer, the key consideration is that the pandemic has affected plans, rather than personal choice.

  • There are five key positive reasons to delay taking your pension:

    • Your pension has longer to grow
    • Maximise your savings potential
    • Your employer will keep topping up your pension
    • Tax relief until the age of 75
    • Delaying state pension can boost your pension payments

Would you like to find out more about delaying retirement?

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TT Wealth News Jan 2021
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