Worried about retirement

My husband retired a few years ago, while I still work on a stressful small business from home. He has not really found a great number of new activities and struggles to fill his time. He has become something of a penny pincher which is difficult for me as time is still money for me. Not everyone adapts well, so planning ahead is vital. Two years to plan and prepare sounds right to me, but make sure you get the sums right and want your new lifestyle.

Consider yourself fortunate that you have been able to work for as long as you have and therefore, have had the opportunity to accumulate a decent NHS pension! Also, by the sounds of things, you are going to be able to work up until you can claim your State Pension, so you aren't actually going to be in dire straits financially!
I have been much less fortune than you! I was a Senior Nurse in the NHS for over 30 years - my last position was as an Advanced Nurse Practitioner in general practice. I worked full time for my entire career, even when my children were small. Just as well I didn't take any breaks, because I really had no idea what was going to happen to me!
As I got older, I suffered from aches and pains and had back problems since I had my son in 1995. One day, I was checking a patients BP and I felt something "snap" in my back! The pain was excruciating and after examining me, one of the GPs sent me to the hospital! Xrays revealed 2 fractures in my spine and a DEXA scan showed I had severe osteoporosis! My GP employers sent me to see Occupational Health for assessment! Unfortunately, they said that they couldn't allow me to continue working as the risk of further fractures was considerable! I was only 50 at the time, so I was devastated! ??
I am nearly 64 now and over the years I have had quite a few other fractures - in my spine, toes and ribs - all without any trauma! I also now have severe osteoarthritis in almost all of my joints! Every day is a pain-filled struggle!
However, worse was to come! In 2008, my husband's company were not doing well and there was talk they might even close down! My husband had worked for the company for 24 years and had worked his way up into a senior management role. In January 2009, his employer paid off 80 of their 129 staff. The main criteria used for selection for redundancy was health! My husband had had some time off as he required surgery for carpal tunnel syndrome in both wrists, so he was one of the casualties! He was just 51 at the time! Because of the recession, getting another job was impossible and he then went on to develop arthritis in his hips/knees, diabetes and sleep apnoea, which further reduced his chances of employment! He tried to access his Occupational Pension on health grounds, but it was refused, as he was under 55!
After using up his redundancy money and our savings, we were forced to declare ourselves bankrupt, as we couldn't pay our mortgage any more! Our house was repossessed and we lost everything! My husband's pension was seized by the Trustees as it was considered an asset! They couldn't touch mine as I was already receiving it! We then discovered that my husband couldn't claim any state benefits as my pension took us just above the income threshold!
Then I discovered that I would have to wait until I was 66 to get my State Pension, instead of at 60, because the Government changed the rules! We now live in a rented property on a fraction of our former income, in poor health, and with virtually zero hope of things ever improving!
I am sorry if you don't like what I am saying - not many people do - but it might help you to view your financial situation in a different light and be thankful for what you do have! Working for over 30 years and having nothing to show for it is not a happy place to be! ???

Hello Banna many wise words here for you. I agree with Supergran1946 I love retirement too and wish I had made a career of it. Once you have sorted out your finances and decided if you are ready for retirement, there will be a whole new world waiting out there for you. Embrace it and enjoy.

The GP’s you work for may be actually trying to keep you by saying they won’t re employ you.
I retired from the nhs a few years ago. I applied for my nhs pension and put in my letter of resignation. One week into my notice, I was offered the hours I wanted if I agreed to return. We agreed on two days a week, which I did until I got my state pension.
Your employers may be testing the water. I can’t imagine there are many experienced unemployed practice nurses out there

It's perfectly understandable to be a bit apprehensive, but I'm sure you'll be ok. As others have said, your expenses are a lot less in retirement and you'll find other things to do instead of work. We both relied on our occupational pensions to begin with as we retired before state pension age. I now receive my state pension but my husband doesn't get his for another couple of years. We moved house to be nearer our daughter and this has given us a new lease of life. We look after our grandson a couple of days a week which gives us structure. My husband loves walking, my hobby is gardening and I grow most of my own plants from seed. Very engrossing. I have consciously made the effort to slow down and not feel bad about watching a bit of daytime television or read a book. I think we all owe it to ourselves after juggling children and work to take time for ourselves!!!! Also life is short - good to make the most of it while we're fit and able.

Don't worry . You do not need so much money as when you worked . I did not get my state pension till 65 and it was like a part time job pay to me. A bonus . You will have time for hobbies , taking care of yourself and no pressure of work routine . A part time job might suit you if you feel lost at home, but I have treasured every day since I retired at 58, 9 years ago .

I took early retirement at 50 as my DH had retired aged 65 & was not in good health. When he was 70 we downsized & moved to Somerset from Middlesex (Surrey). Sadly he died 14 months after we moved. 2 years later I moved to be closer to DD & DGS in Devon, she was established in Devon having moved there 14 years before, she had her own circle of friends & her beloved Partner.

I live about 10 miles from my DD & was here when DGS2 was born. I love my life, have made my own friends & pre Covid had a busy social life. Best move I could have made.

My DM who will be 92 next week still lives in Yorkshire where I was born & brought up. It is a worry that she is so far away but she has always lived in the same village & still has friends there

I love the freedom retirement has given me, no having to get up & being at my desk on lovely sunny days. Staying in when I want to. I don't draw my State Pension until July this year & am not sure how my finances will be affected but I will make changes where necessary & carry on enjoying life

I medically retired from the NHS 2017, I was dreading it, it takes a bit of getting used to. For example I no longer have to rush my food down at lunch and teatime. In fact I don’t know how I found the time to work. How many times have you heard that one?

Me too. NHS pension and recently got my state pension. Together they are not bad, but as an ex NHS employee, think about the Hospital Bank /Agency they will grab you with open arms. Dip in and out of working until you are ready to hang up the lanyard. If you do consider it, they will also ask if you want to pay into another pension, remember they add a % to your contributions, that will mount up. When you go take as a lump sum.
I work x2 days a week occasionally 3 but it keeps me occupied, especially in last year.
My experience and training has really been put to the test. The last year has been challenging to say the least. Best of luck and Thank you for your contribution #Nhs staff

I’m total opposite I retire in 15 months and I can’t wait. My bucket list is getting bigger by the week. I write down places I want to visit in UK, overnight stays. Then places I plan visiting overseas I’m saving for these trips already. Finally a list for things I plan on doing at home. I just hope I have enough time to fit it all in

I retired early to look after my mother and she died when I turned 60. I thought I might be bored but I have absolutely loved being retired. I live in London so there are lots of free things to do (prior to COVID) and I was never bored. Obviously if you don't live near a city you may not have so many things to do but there are always groups you can join and possibly find a part time job to help with the income. I hate to see older people regretting their retirement so please look into things you might be interested in (book clubs, exercise groups) and I am sure you will finally wonder (as I do) how I found time to work full time!

Your employer certainly should not block you attending a retirement course. Can you not contact Nhs pension dept direct for a prediction.?.It's worth contacting Pensionwise or an independent financial advisor too.
As for retirement. Everyone is different. Initially I missed the structure of going to work and my colleagues of course but not the actual work. Now I am far more relaxed and It's fun filling my time with what I want to. I haven't fallen into the trap of letting others fill my time for me and that was tricky. But they all know they can ask ...I may not say yes and owe no explaination but they can ask.

it is different for everyone.It is something that takes time to adjust,keep busy, get a hobby, tons of groups out there. this covid makes that impossible at present.You could get a part time job or start a little business.Most people have less money when they retire, it's normal unless you have savings etc

I thought I would be bored but I now wonder how I managed to work and do all the things I get to do during the day. My partner lost his job , due to the pandemic. and doesn’t get any benefits because of my public sector pension( which BTW isn’t a fortune) but we still manage. Enjoy your retirement. You deserve a rest . X

When you retire, you may (I was ) be entitled to a small lump sum from NHS Pensions ........depends on how long you have worked for them as to how much. Normally the NHS has retirement meetings for staff about to retire (My Trust did) and can advise you on different matters. I volunteered after retirement to work back wherever and whenever, but sadly lockdown meant my application wasn't processed and is still pending. You, as you know, even though you work for the NHS , have to go through the Police checks to do any voluntary work with them .....but that should be simple enough as you are still there ! Ask about what you can expect in financial terms, then, once you have your DWP pension forecast as well as your NHS pension forecast, you will be in a better position to work out your finances and may be pleasantly surprised at what you might be receiving, and what you may have left after outgoings ......Help the Aged probably have some info.......I know they have a section on affordable homes, and Citizens Advice might have some ideas too .....Sadly before lockdown I had enrolled at various activities, including the U3A ....but since everything has been closed down I just wait, keep myself occupied, go for long walks (I am lucky I live on the coast) and WAIT longingly for when I can go out again !!!!!!!Oh the pleasure of just going into town to look round the shops (not sadly that there are going to be many left !) and get a coffee ....hope you can figure out a plan ! good luck

I always say, retirement is the best job I've ever had. The secret is to have something constructive to do. I was a college lecturer and secured myself a position as an exam invigilator at a local school. It's perfect as I can choose from a rota issued by the school when I want to attend, whether half or full days or one, two or three sessions a week. However, I don't do this all the time (and nowadays, not at all), but I go to daytime fitness classes, go out for lunches with friends, have written a book, take long walks with the dogs and spend a lot more time at our French house. Don't worry, find a hobby or activity and enjoy it! Yes, money is tighter, but this is balanced by the fact you don't need all those working clothes and paying for fuel or fares to get you back and forth to work.

OMalley60 - you will get a better response if you start a new thread - you can ask admin to move this.
I presume you've been through working options with your manager? Maybe you feel you personally can't go on. Have you talked to your union / RCN rep? Sorry if I'm teaching my granny to suck eggs, but if you are retiring because of a disability you need to get someone on your side during negotiations.
Turn2us are useful in looking at benefit entitlements and so are Citizens' Advice Bureaux.

I am having to retire in the next couple of mo the due to going deaf. I am a registered mental health nurse working within the nhs. Have don’t for 20 years my pension is not as good as I would have hoped. I am in retirement housing now. But I am very worried about my future. I will look for work part time not sure what to do. Big big changes for me. Information would be good to help me as working full time has been my life I’m just 62. So won’t get state pension till 66 not sure if I will get any benefits? Any advice would be much appreciated. So glad I have signed up to this forum .

You could return to a different area of the NHS or, indeed, do something completely different.
Remember your will get a lump sum that can be invested (get professional advice) and possibly give you a (little) extra income on top of your pension
Go for it!!

Banana you will be OK and any major life style change is very frightening. If you haven't already get a pension forecast from your NHS pensions service. I assume you are in the post 1997 scheme if you are employed in primary care, although you haven't said what your role is or how many years service you have. The government run pension wise service is worth looking at, you can book online for a phone call to discuss your options.
You could also join the hospital or community bank or agency as your knowledge, skills and experience are invaluable and transferable to all care settings. Even though the GP service you work for now has refused to allow you to return, in 2 years things may have changed and if it doesn't it's their loss for being so short sighted.
Otherwise voluntary work is an option local charity shops, animal shelters are always looking for people.
Just remember that you have provided an outstanding service throughout your career and especially over the past year.
As a fellow NHS worker I retired 2 years ago aged 60 and have been working 1-2days a week in the local Emergency Department in my old job, through the nurses bank and this is enough for my brain and body to cope with. No more work for me after September when I plan to go on the trot, travel restrictions permitting, doing the Atlantic Coast of Southern Ireland

My father used to say, once retired, that he did not know how he ever had time to go to work. I have been retired now for 17 years, live alone, having been widowed nearly five years ago, and still agree with him.

Was lucky to retire gradually, taking on less and less contracts.
Moved house and downsized as a focus. Started volunteering at a lunch club. Looked after grandchildren. Took on new garden. Don't have much money as still not pensionable age.
I loved work but I am much happier now.

Please, please dont worry about retirement. I am now 74, have been retired 14 from a very demanding job, and I love retirement. I wish I had made a career of it ! It is wonderful to not have to be somewhere at the same time each day. I love walking, travelling, and generally pleasing myself how I spend my time. I do art lessons (no good at it, but enjoy it). I like to hack around a nine hole golf course (again, no good at it). Like you I dreaded the thought of it, but it has turned out to be the best time of my life, despite having less money

I retired from the NHS in March. I don’t think I was really ready to retire but I had the job from hell and got out as soon as my state pension kicked in. I too could’ve got my NHS one at 60.
I took out a bank contract before I left with the intention of working one day a week for a different department. That never came off due to Covid. I left it for a bit but then decided I was ready to help out and go back to work part time. There were loads of bank opportunities around and I’ve now just retired properly after four months in a completely different department again. I now feel ready to retire.
So I’d say get a bank contract at your local NHS trust and just see what’s on offer. This helps out financially (but beware you’re probably using up your tax free allowance on your pensions) and also giving you something to do.
It’s good that you’re thinking about this in advance.
Good luck
?

I could retire in July, but have decided I'm not going to. I like my job and it keeps my brain sharp as it's a lot to remember and keep on top of. It's different for me though than Banna as I can take my state pension and keep on working. I only do 3 days a week and work with some lovely people. I think I would miss the social side of work too if I were to retire. Also I think I would struggle to fill my days. My DH is retired and he loves it, but I suppose everyone is different.