Should you ease into retirement with part-time work?

Some savers are delaying retirement due to inflation and the cost-of-living crisis. Could going part-time boost your pension pot as you ease into your golden years?

Senior man with beard using laptop and woman watching.
(Image credit: Getty Images - 10'000 Hours)

Pensioners have just enjoyed the first state pension payment of the new tax year, and it’s 8.5% higher than they received last year. 

That’s thanks to the triple lock rules, which increase state pension payments by the rate of inflation, wage growth, or 2.5% – whichever measure is highest.

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Pension savings (retiring aged 66)Pension savings (working part-time for three days a week for three years after turning 66)Pension savings (working part-time for three days a week for five years after turning 66)Pension savings (working part-time for three days a week for ten years after turning 66)
£434,000£505,000£559,000£717,000
Row 1 - Cell 0 +£71,000+£125,000+£283,000
Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.