What are the benefits of reaching retirement age?

Of course, from the outset, our generation differed from previous generations. We were the first real ‘teenagers’ adopting our own fashions rather than those of our parents and listening to ‘different’ styles of music from rock’n’roll to punk.

As a generation, we grew up to value self-reliance, independence and hard work – and to seek a lifestyle of quality and excellence. All this certainly isn’t going to change with retirement – if you’ve worked hard and saved, it’s a time when you can reap the benefits of retirement in terms of both finance and lifestyle.

A:  Yes. Retirement age is when an employee chooses to retire – and some people retire in their 50s and earlier whilst others carry on working into their 70s and 80s.

State pension age is currently 66 for both men and women but will gradually start increasing from May 2026. Between 2026 and 2028 it will rise to 67 and between 2044 and 2046 it will rise to 68. If you intend to retire early and are not sure when is the best time to retire, take a look at our blog here.

State Pension 

Once you reach state pension age, you’ll get a regular, taxable income for the rest of your life depending on the National Insurance contributions you’ve made throughout your life. If you’ve got a workplace pension or a widow’s or widower’s pension or if you choose to continue working part-time or full-time, you’ll still receive your state pension.

No National insurance

Even if you decide to continue working, once you’ve reached state pension age, you won’t need to pay national insurance although you may still pay tax.

Lifestyle discounts

Once you reach your sixties, there are all kinds of discounts and savings on offer – whether you’re hoping to travel across the country, head to the gym or treat yourself to a cinema trip. Hairdressers often offer discounts to pensioners, who are able to treat themselves to a haircut during less busy periods. Many gyms provide discounted, off-peak memberships to older people, organisations like the National Trust and many tourist attractions have senior membership or senior discounts. Many theatres offer discounted tickets for the over 65s.

Cheaper Travel

When you reach a certain age, travelling across the country by rail, coach or bus can cost substantially less.

- Senior Railcards: buying a senior railcard means you’ll get 1/3 off the price of rail travel and there are often exclusive offers which mean you can save even more money on rail journeys. Senior Railcards are available for the over 60s and you can choose a physical, plastic card or a digital version. 

- Senior Coachcards can also be purchased enabling you to travel on the National Express coach service at 1/3 discount on standard and fully flexible fares across the country.

- Once you reach state pension age, you’ll be eligible for free bus pass which will provide you with free local bus travel anywhere in the country.

Free Prescriptions and Eye Tests

When you’re 60, you’ll get free prescriptions anywhere in the UK. Any medicine prescribed by a doctor is free – and this is a real benefit because as we age, we are more likely to have medical conditions. Some opticians offer discounts on glasses and lenses for older patients and it’s possible you’ll be eligible for a free NHS-funded eye test.

Help with winter fuel bills

If you’ve reached state pension age, you may be eligible for the Winter Fuel Allowance also known as the Winter Fuel Payment which is a one-off, tax-free payment. This is an amount of approximately £500 at the time of writing, however eligibility criteria changed in 2024, so it is worth checking whether you meet the new requirements. There’s also a Cold Weather Payment payable if the temperature is forecasted to be zero degrees or below for 7 consecutive days between 1 November and 31 March when an extra £25 is automatically deposited in your bank account. For full details take a look at our guide to Winter Fuel Allowance.

Disability Allowance

If you’re over state pension age, live in your own home and have been disabled for at least six months and need someone to help look after you, you may be able to claim an Attendance allowance.

Having the time to take up a new hobby or spend more time doing something you love

When you retire, you’re able to devote more time to a hobby or pastime you enjoy – or perhaps take up a hobby you’ve never had time for before. Sports facilities including gyms and golf courses are less busy during the day – and by joining a club, you’ll meet some new, like-minded people. There’s so much you can do – from fishing and fossil hunting to buying and selling antiques. If you take up a sociable activity like playing bridge, you can certainly widen your social circle. We have offered some ideas in our online blogs.

Learn to play Bridge

This is such a popular game and will certainly help you meet more people in a sociable – if slightly competitive – setting. Take a look at our blog on learning to play the game.

Research your family tree

This can be fascinating, revealing and something to share with the younger family members. There’s a whole host of online resources to get you started. The BBC has a guide to getting started on their website.

Write creatively

They say there’s a novel in each of us and when better to find out when you have the time to find yours. There are countless creative writing classes, courses and retreats across the country to cover all genres including poetry and prose and there are writing groups which can provide constructive feedback on works in progress. Take a look at the Christopher Fielden website for writing competitions, book recommendations and other tips and hints.

Take up home brewing

There’s lot of information online focusing on how to make beer or wine at home – and you’ll be able to enjoy the fruits of your labour. There’s a free online course on the Beercraftr website.

Book a cookery course

For most of us, eating is a pleasure and creating your own restaurant-quality meals is immensely satisfying.

Learn how to upholster your furniture

Give your home a fresh look by reupholstering your existing pieces or furniture you’ve bought from markets or antique shops.

Being able to volunteer to help a cause you’re interested in

Volunteering can open a whole new world and bring an immense sense of satisfaction – whether it’s working in the gardens of a National Trust property, helping conservation efforts or working in a charity shop.

Become a tour guide

If you love historic houses, volunteer as a tour guide – the National Trust are always looking for enthusiastic rooms guides. Find out more about volunteering with the National Trust here.

Volunteer with a wildlife organisation

Many wildlife organisations, whether national such as The Wildlife Trusts or more local projects welcome volunteers to help with tasks such as monitoring or recording wildlife or helping with toad patrols.

Join the local amateur dramatics society

You don’t have to be a performer. There are so many other roles within a local society – from helping with costumes to painting scenery, prompting and music.