Retirement - a new opportunity
These pages are designed to help you with retirement and aid you in adjusting to your new phase of life.
When you have been working for most of your life, retirement can sometimes come as a bit of a shock. Although you may have been looking forward to retirement, many people have "well, what now" feeling once they have broken away from the day to day routine of a working life.
But it needn't be that way and the way to look at retirement is as a new opportunity to enjoy things you may not have had the chance to do before - take up a new hobby, start travelling, or volunteer to help out somewhere. However for some people it can be a lonely time, particularly if your relatives/friends no longer live close by or have passed away.
Pensions
The Pension Service is a service set up by the government to provide you with help and guidance on pension related issues. The service website contains information for people who are retired, approaching retirement, or just planning ahead. The service also has a network of Local Service surgeries around the country where you can drop in to discuss matters such as State Pension, Pension Credit, Housing Benefit, Council Tax Benefit and much more.
The Pension Guide is a website provided by The Pension Service that gives more impartial pensions information including guides to the different types of pensions.
An online Pension Calculator is available to allow you to estimate how much your pension would be based on information you provide, such as how much you contribute per month, your age, and your planned age of retirement.
Useful links for pensions
Merseyside Pension fund for the Local Government Pension Scheme
Department of Work and Pensions
National Local Government Pension Scheme
Pensions Scheme Office www.inlandrevenue.gov.uk/pso/index.htm
Teacher Pensions
Managing your finances
Ample planning can help to make sure that you will not outlive your savings and that you will not have to rely financially on others.
Royal United Kingdom Beneficent Association (RUKBA) is a national charity helping older people to enjoy many more fulfilling years in their own homes by providing financial support. In many cases they help with small grants or annuities to aid older people extend their pensions. With Rukba's support they can still keep their independence that means so much to them.
The Financial Services Authority is an independent body set up by the government to regulate financial services and protect consumers' rights in the UK.
It will help you consider questions such as: What will happen when I retire? What types of pensions are there? Do I need to save for my retirement?
Visit www.fsa.gov.uk to find out more.
Useful links for finances
Inland Revenue
Check the 'What's New' link to find the latest changes at the Revenue Inland Revenue - National Insurance Contributions Office Inland Revenue
H.M. Treasury
Heating your home in the winter
This is available if you are aged 60 or over, or living with a person aged 60 or over, an annual winter fuel payment may be available to help you with your winter heating bills. This payment can be up to £200.
If you're over 70, you could be eligible for a one-off payment of £100, and if you are aged 80 or over you may be eligible for a further £100 on top of this Please visit: www.thepensionservice.gov.uk/winterfuel/home.asp
For more information about winter fuel payments and one-off payments for people aged over 70 and 80, please see the Pension Service website.
Free TV licences
If you are aged 75 or over you are entitled to a free TV licence. If you have a television set you will still need to hold a TV licence, but the Government will pay for it on your behalf. This licence is not automatically issued, you will have to apply for it.
Benefits
If you are paying rent and on a low income you may be eligible to receive Housing Benefit or Council Tax Benefit
In addition, you could be entitled to claim Pension Credit. Pension Credit guarantees a minimum income for people aged 60 or over. This credit also rewards those who have put away a certain amount of savings by giving them an additional amount.
Health Issues
If sometimes you feel you can't cope by yourself, there are a number of people/organisations that may be able to help you.
Visit the NHS website and search for your local GP by postcode or area
Useful links for health issues
Samaritans
Mind - Mental Health Charity, www.mind.org.uk
Useful links - general issues
Website of the University of the Third Age. U3A groups around the United Kingdom aim to encourage lifelong learning for those no longer in full time employment.
Age Concern supports all people over 50 in the UK to ensure they get the most from life.
Age Concern provides a range of leaflets designed to help you with all aspects of retiring, from dealing with your pension to finding social clubs and events. All of the leaflets are available free of charge and can be accessed by visiting the Age Concern Information and Advice Section
Help the Aged work to address issues that matter to older people such as poverty, isolation and ageism.
Advice and information about all forms of accommodation for elderly people.
The 'age friendly' website dedicated to the lifestyle and interests of the over 50s with information about hobbies, health and bereavement as well as a chat forum.
BBC Health at 50+
Senior Rail Card
Aging well, wisely and successfully
Website full of suggestions for enjoying your later life
Visit the Samaritans website.
Do you need someone to talk to?