Retirement is no longer considered an ‘age’ related thing and it is becoming more common for people to stagger their retirement.
And this isn’t just a money thing, for many transitioning from working a five day week to not working at all is a daunting prospect. Taking a part time, flexible approach instead can prove beneficial for general health and well being.
If you have an option to work reduced hours and initally use any cash savings or other income sources to support you financially, it can make a big difference to the length of time your pension will last. Remember though, it’s important to make sure any untouched pension savings are performing at their best, generating growth above inflation in readiness for a time when you start drawing on them.