Earlier quoted context omitted.
not if you are retired, the way it works here the marginal tax rate of a pensioner could end up around 80% when means tested pension payments are taken account of. For someone that has worked all their life and paid a shitload of tax I find that a little offensive and have no problem with them optimising their returns in their golden years.
Now you are talking about getting welfare subsidies when people are retired? I hope when you are retired you have pension pot or a (paid off) house you can leverage so you need to get welfare money from the government
But there is a grey area where you partially qualify, the ideal retirement strategy can be to spend your savings at a rate to allow a comfortable life then at a certain point you drop down into pension eligibility and then you supplement your own savings with the pension.
Unfortunately, in the parts of the zone of grey the way it works out is if you earn too much the combined impact of income tax and reduced payments is equivalent to a tax rate of 70 or 80%, so it sort of makes it an incentive not to work in those cases unless you really like it for some reason, but there is every chance you are 75 or 80 by then so I think you've probably done your bit by then and entitled to take it a little easy.