Money Matters In Retirement

Getting The Facts On Money In Retirement

It sure does,whatever age you are.  We were reading some tips for the over 50’s the other day and thought of you dear readers.  So we thought we’d share some of the most useful.

First of all you can now retire when you want to.  However you won’t get your pension until you are a certain age: 66 for men and 60 for women born before the 6 April 1950.  The age to qualify for a pension is increasing in installments to 66 for both men and women by 2020.

Buy One – Get One Free Image:Flickr-Vladimir Morazov

If you are receiving a full state pension and your weekly income is below £145 as a single person, £222 for a couple, then you are probably entitled to claim pension credit.  Even if you have savings you can make a claim.  AGE UK says that billions of benefits go unclaimed every year.

There are still some perks to getting older so make the most of them.

UK Loyalty Cards - Boots Advantage, Sainsbury Nectar &Tesco Clubcard

They include your free bus pass (60+), TV licences (75+), over 50s can enjoy dining card discounts and meal deals at more than 100 pubs, over 60’s enjoy 25% off at Specsavers and 10% off at B&Q.

  • Over 60s get more points on their Boots card as long as the product is one of Boots’ own but you must sign up to the scheme.  You’ll also be entitled to 25% off glasses and 15% off hearing aids. Make sure you sign up for all the loyalty cards where you regularly shop.
  • Londoners can also get a discounted Oyster card (60+) for free travel of most types in the capital.
  • Over 60s get free prescriptions in England; in Scotland, Wales and Northern Island everyone gets free prescriptions so no need to panic!
  • You have to wait until you’re 83 for a free passport – if you’re a British citizen of course.
  • Pay reduced English Heritage and National Trust membership once you’re over 60.
  • Some theatres, museums, galleries, football stadiums and racecourses also offer senior discounts but you may need to ask about these.
  • Some local gyms offer discounts for senior citizens too.
  • A Senior Railcard will cost £30 but will save you a third on your train journeys.
  • Keep your eyes peeled for senior days at your local cinema when tickets are cheaper to the over 60s.
  • Similarly check out your local hairdressers; some offer discounts for over 50s or have special senior reduced rate days.
  • Make the most of offers for free internet courses.  Knowing how to use it means you can often access discounts that are only available online.

Are there any discounts for OAP’s that we have missed? Any coupons or offer websites that you have found? On the subject of stairlifts you can sometimes find discounts if you know where to look.