I have read the various threads on retiring, the state contributory pension and early retirement but am still confused as to when and why a requirement in the 63rd year appears and if it will apply to me, and how to ensure a contributory pension will be in place.
Looking at my options, I would like to understand if I have the below two scenarios available to me, or just one or the other?
Option 1: If I PAYE retire at the end of the tax year in which I am 58, I will have over 2080 contributions. So far those would be 265 credited, and remaining A Class.
Does this alone allow contributory pension access at age 66 if no income or credit signing from tax year age 59-65?
Do I have to continue signing anyway even if not JB?
Or I may work sporadically in those years either, will this have an impact?
Finally, Is there an additional box I must tick in the 63rd year for contributory pension access even in the above case with all contributions in place?
Option 2: If I PAYE retire at the end of the tax year in which I am 58 and with everything else as above, but choose to use a small DC/DB for ARF income and class S.
I will then have history as above and age 59-65 class S, are there any pitfalls of this?
Apart from drawing ARF are there other things I must do?
Again is there a 63rd year requirement for contributory pension access at age 66.
Thank you to anyone who can help.