Late Retirement
While others may prefer to opt for early retirement, you may wish to continue to work past your normal retirement age. If you do so, you should bear in mind that unless you have reached your 75th birthday, you cannot receive any occupational pension until you retire.
If you do carry on working past the state pensionable age, you will no longer be required to pay National Insurance contributions. Delaying taking state pension means that when you do start drawing it, your pension will benefit from an "uplift" as a result.
The rules governing occupational schemes are complex but, in summary, the benefits that you had accrued at age 65 will be paid at an actuarially increased rate when you eventually retire.
You do not pay pensions contributions after age 65 and if you are paying additional voluntary contributions (AVCs) these payments will also cease, although you will not be able to purchase an annuity until you eventually retire or from any time thereafter up to, at the latest, age 75.