UK Pensions (2018)

[evadgib]

1 hour ago, evadgib said:

Almost a million public sector workers handed a second year of inflation-busting pay rises 

(Occupational pensions)

Lowest paid in military receive bumper pay rise

[billd766]

1 hour ago, evadgib said:

Lowest paid in military receive bumper pay rise

Thank you for the link.

 

I am glad to see that the lowest paid get the biggest pay rise.

[evadgib]

Welsh MP's expat 'votes for life' plan moves closer

(Seen yesterday during PMQ's)

[denby45]

5 hours ago, evadgib said:

Welsh MP's expat 'votes for life' plan moves closer

(Seen yesterday during PMQ's)

They are opposing it on the basis there are possibly 3 million extra voters and the extra costs and strain on resources. Where is the huge extra cost? You can enrole online and I guess there will be some small extra cost every X years around election time. Hardly a show stopper based on the fact that they could afford to spend over 9mil on their Brexit propaganda through everyone's door.

 

Den 

[evadgib]

3 hours ago, denby45 said:

They are opposing it on the basis there are possibly 3 million extra voters and the extra costs and strain on resources. Where is the huge extra cost? You can enrole online and I guess there will be some small extra cost every X years around election time. Hardly a show stopper based on the fact that they could afford to spend over 9mil on their Brexit propaganda through everyone's door.

 

Den 

The consortium say the case is waiting to pass through the House of Lords.

[nong38]

I don't know if anyone noticed but pensioners allowance for the current financial year went up by I think 650 pounds so all pleased with that but next year there is no increase, that's for basic tax payers. It seems the new PM will increase the allowance for high income payers so I and I am sure many will await the new Chancellor's Autumn Statement hoping we have not been forgotten, we lower paid basic tax payers. Never liked Hammond or Osborne both could easily have a received a large wet fish to the head for their concern!

[evadgib]

PM creates new Office for Veterans' Affairs to provide lifelong support to military personnel

Edited July 29, 2019 by evadgib

[evadgib]

Of interest to NHS pensioners or relatives:

NHS pensions for senior clinicians: new changes announced to improve care

[evadgib]

1 hour ago, aziz1366 said:

 

?

[theoldgit]

HMG have published the following information regarding pensions for UK pensioners living in the EU if there's a no deal Brexit. UK Nationals in the EU, benefits and pensions in a no deal scenario

 

You will note that the UK government say that they would wish to continue uprating pensions but will take decisions in light of whether reciprocal arrangements with the EU are in place.

[billzant]

theoldgit

 

I was going to make the same point. It appears that they are allowing for the possibility of new reciprocal agreements. Includng one with Thailand?

[cleopatra2]

1 hour ago, billzant said:

theoldgit

 

I was going to make the same point. It appears that they are allowing for the possibility of new reciprocal agreements. Includng one with Thailand?

The issue is that reciprocal agreements are not one dimensional. They are not solely about pension uprating but cover the whole aspect of Social Security .

The last time Thailand requested such an agreement the UK rejected it on the basis that Thailands SS was not comparable to the Uk.

[evadgib]

5 hours ago, cleopatra2 said:

The issue is that reciprocal agreements are not one dimensional. They are not solely about pension uprating but cover the whole aspect of Social Security .

The last time Thailand requested such an agreement the UK rejected it on the basis that Thailands SS was not comparable to the Uk.

If HMG rolls over in relation to Brits in the EU post Brexit they won't have a leg to stand on re Brits living in the RotW.

[cleopatra2]

2 hours ago, evadgib said:

If HMG rolls over in relation to Brits in the EU post Brexit they won't have a leg to stand on re Brits living in the RotW.

It would appear to me that it is the government intention to keep the status quo.

If they truly wanted to unfreeze pensions it could be done by passing UK legislation .

The fact they are mentioning reciprocal agreements suggest that the pension freeze is remaining.

[mommysboy]

I see a Gov think tank is recommending a rise in retirement age to 70 by 2028, and 75 by 2038.  

 

You have to laugh, if it happens it would mean I've been bounced up twice!  It's just random chance, but I don't think today's pensioners realize they've lived in a golden age.

 

[BobBKK]

2025 I'll be 67 so might just squeeze in but it's pretty unfair breaking 'the contract' over ones lifetime.

[puchooay]

I think you'll find that the cut off dates for receiving your pension at 67 have already been fixed.

 

Any further increase would be for those born at a later date.

 

Not 100% but I believe the cut off for 67 years old was being born before 1st April 1970. That date rings a bell as I only made it by a couple of weeks.

[cleopatra2]

7 minutes ago, puchooay said:

I think you'll find that the cut off dates for receiving your pension at 67 have already been fixed.

 

Any further increase would be for those born at a later date.

 

Not 100% but I believe the cut off for 67 years old was being born before 1st April 1970. That date rings a bell as I only made it by a couple of weeks.

Nothing is really fixed untill you reach actual pension age set at the time.

Parliament can change the pension age if it wishes . You would hope if such a scenerio arises they would include a suitable transitional phase to limit impact on those approaching retirement age

[mommysboy]

1 hour ago, cleopatra2 said:

Nothing is really fixed untill you reach actual pension age set at the time.

Parliament can change the pension age if it wishes . You would hope if such a scenerio arises they would include a suitable transitional phase to limit impact on those approaching retirement age

 

1 hour ago, BobBKK said:

2025 I'll be 67 so might just squeeze in but it's pretty unfair breaking 'the contract' over ones lifetime.

 

Yes you'll be ok.  Any changes are scheduled already for 2028, and again in about 2040.  Anyone who is due to retire before that time will escape.

 

But in the last shake up we did see a group of women who suffered as much as a 7 year increase, with relatively short notice.  The Gov. got away with that which may have set an unfortunate precedent.  What I mean is where once changes possibly did not apply to people within 10 years of retirement, that may sadly not be the case in the future.  In addition, we are seeing people suffering changes not once, but possibly twice quite close to their retirement.

 

In a sense it's a double and even triple whammy, because not only will the retiree have to wait longer, but will be drawing for a shorter time, as well as contributing for another few years without any further benefit.  There is now the real prospect that people born around 1961 upwards could be paying as much as 50 contribution years, which is 15 over the number required for the full pension.

Edited August 19, 2019 by mommysboy

[mommysboy]

Years really count when you're older- even 2 or 3; it's the one thing that is in increasingly short supply????

 

 

[ivor bigun]

Although our pesion is not that great,i fear that in the years to come it will be far less and todays young people will have to wait longer and longer as people have less and less kids,as for the idea of importing workers ,well you can see how thats working out in the cities,they not only bring their lifestyles with them they give it to their kids,unlike the original immigrants who came to Britain to live and integrated.

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[sandyf]

On 8/19/2019 at 7:52 PM, mommysboy said:

There is now the real prospect that people born around 1961 upwards could be paying as much as 50 contribution years, which is 15 over the number required for the full pension.

Nothing new there. I paid 49 complete years and one incomplete year of about 4 months, from April till my 65th birthday in August.

[evadgib]

All the more reason for the U65s in particular to sign up and remain members of the Consortium.

[mommysboy]

On 8/21/2019 at 9:51 AM, sandyf said:

Nothing new there. I paid 49 complete years and one incomplete year of about 4 months, from April till my 65th birthday in August.

Yes, but at least you got to retire at 65. 

 

Imagine now having to wait another 5 years, and even 10.

 

 

[prakhonchai nick]

Just wait until they follow the rules of some other countries. Have to be in-country for minimum 6 months a year to receive any pension! That will surely come one day.

 

Just look at how quickly they removed Bereavement benefits from the Thai wives and children of deceased expats. Barely 2 years notice given!.

[sandyf]

5 hours ago, mommysboy said:

Yes, but at least you got to retire at 65. 

 

Imagine now having to wait another 5 years, and even 10.

 

 

What happened to me is irrelevant.

You stated in a previous post "There is now the real prospect ..............", the prospect has not just arisen, it has been around for a long time.

When the 2016 reforms were first proposed it was fairly obvious the the governments intention was to push people down the route of providing their own pension. When my son started work about 10 years ago I said to him he should be thinking about providing for his retirement but he just shrugged it off.

There are some on this forum enjoying occupational/private pensions that have been quite critical of people of my age not doing more to provide for the future when pensions were reformed in the 80's. I am quite prepared to admit they were right and the younger generations need to wake up to current reality rather than what may or may not happen.

 

It doesn't take much working out. The new state pension is around £8767 a year and yet the government tells visa applicants they need £18,600 a year to live on. Even if the pension age remained at 65 what you would get would be inadequate without some personal provision. Tell people they have to wait a bit longer and you enhance the incentive to increase that provision.

[BritManToo]

59 minutes ago, sandyf said:

t doesn't take much working out. The new state pension is around £8767 a year and yet the government tells visa applicants they need £18,600 a year to live on. Even if the pension age remained at 65 what you would get would be inadequate without some personal provision. Tell people they have to wait a bit longer and you enhance the incentive to increase that provision.

They tell applicants they need 18,600 pounds for two people to live on, the pension only covers one person.

If your foreign wife had her own pension of 8,700 pounds there would hardly be any problem.

 

Anyway, hardly worthwhile a Brit man saving for a pension these days, his wife will get half of it when she divorces him.

Edited August 27, 2019 by BritManToo

[sandyf]

40 minutes ago, BritManToo said:

They tell applicants they need 18,600 pounds for two people to live on, the pension only covers one person.

If your foreign wife had her own pension of 8,700 pounds there would hardly be any problem.

 

Anyway, hardly worthwhile a Brit man saving for a pension these days, his wife will get half of it when she divorces him.

I thought it fairly obvious that "visa applicants" would mean 2 people, not being specific, just an indication of disparity. If you want to be more specific the married state pension is £13,436.

I wasn't aware that foreign pensions were considered as allowable income, not that it matters no real relationship to UK pensions.

[billd766]

1 hour ago, BritManToo said:

They tell applicants they need 18,600 pounds for two people to live on, the pension only covers one person.

If your foreign wife had her own pension of 8,700 pounds there would hardly be any problem.

 

Anyway, hardly worthwhile a Brit man saving for a pension these days, his wife will get half of it when she divorces him.

My ex wife got none of my pensions.

 

Everything else, yes, but not my pensions.

[DILLIGAD]

My ex wife got none of my pensions.
 
Everything else, yes, but not my pensions.

I did the same.


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