UK Pensions (2018)

[sandyf]

On 6/12/2019 at 1:18 PM, stereolab said:

I also receive an RAF pension, so there will be a tax element, I was hoping to file my online tax return this month. I may just reflect the actual monies received + the Equiniti P60 figures. 

I have just done mine again, its fairly straightforward, there is a specific box for the state pension and then you have enter other income and tax paid. You do not have to provide anything so you have to use what you have available, the DWP does not provide anything regarding the routine pension unless there is some change.

This year you will only have the 6 months but in future you need to be wary of the number of payments, normally it is 13 but for last year I nearly got caught out as I received 14, one on the first day of the tax year and one on the last. Every 21 years their is a bonus payment, how long you have to wait depends on how close your first April payment is to the beginning of the tax year.

If you are due a refund, it is fairly quick, about a week.

[billd766]

Make sure you know what day of the week you get paid and what the week number will be. Then just make up a simple spread sheet for one year at a time.

 

I used this calendar as a reference.

 

 

2019-calendar-v2.0.pdf 2020-calendar-v2.0.pdf

[evadgib]

Another health related link of peripheral interest to veterans who are fully entitled to use it.

[sandyf]

On 6/12/2019 at 1:18 PM, stereolab said:

I also receive an RAF pension, so there will be a tax element, I was hoping to file my online tax return this month. I may just reflect the actual monies received + the Equiniti P60 figures. 

I have just received the following from the Inland revenue, may be worth looking at this PTA, could save doing a return.

 

[sometime]

On 2/16/2019 at 8:25 AM, Christophers200 said:

A report from the BBC published on 14/02/2019

 

“ 'Ex-pat pensions 'would cost £600m a year to thaw'

 

Kevin Peachey

Personal finance reporter

 

Getty ImagesCopyright: Getty Images

A total of 510,000 UK pensioners live overseas, receive the UK state pension, but do not see that pension increase in line with the cost of living.

They live in countries which do not have a deal with the UK to ensure their UK state pension rises in the same way as it does each year in the UK.

Some 84% of them live in Australia, Canada and New Zealand. There has been a long-running campaign calling for an end to these pensions being frozen.

Now, the government has said it would cost between £600m and £640m each year in the next five years for it to pay for this so-called up-rating of state pensions - something that it has so far refused to do.

There is a risk that thousands more could fall into this category were there to be a no-deal Brexit, cancelling the current reciprocal deal between the UK and the EU.”

 

[billzant]

I had missed a point. The government's answer to the questions of frozen pensions is that it has always been this way. If people asked for new reciprocal deals they say "mai dai'" - can't be done. Yet if there is a no-deal Brexit which is what Boris would go for, then there would have to be a new reciprocal deal. So there would be a sound basis for more reciprocal deals. Highlighting their inconsistencies is all we have as they don't want to pay out 600million a year which is less that what it would cost if we were living in the UK.

[sandyf]

16 hours ago, sometime said:

 

This thread is on UK pensions and what happens in other countries is off topic. Singular point mean very little, just as a reminder.

 

Greece once had a generous pension system – too generous to be sustainable, especially with an aging population. Retirement was possible from as early as the age of 55 after 30 years of work. Many had extra perks: public sector employees could retire as early as 52. Some women with young children could retire with a reduced pension at 50.

But the financial crisis left Greece reliant on international creditors, who pushed for economic change – not least to pensions. The standard retirement age is now 67. Many early retirement provisions have been abolished. Including pensions, incomes have dropped 40 percent over the last seven years of crisis.

http://www.ekathimerini.com/218552/article/ekathimerini/community/they-stole-my-money-greek-dreams-of-retirement-turn-sour

[ivor bigun]

This thread is on UK pensions and what happens in other countries is off topic. Singular point mean very little, just as a reminder.
 
Greece once had a generous pension system – too generous to be sustainable, especially with an aging population. Retirement was possible from as early as the age of 55 after 30 years of work. Many had extra perks: public sector employees could retire as early as 52. Some women with young children could retire with a reduced pension at 50.
But the financial crisis left Greece reliant on international creditors, who pushed for economic change – not least to pensions. The standard retirement age is now 67. Many early retirement provisions have been abolished. Including pensions, incomes have dropped 40 percent over the last seven years of crisis.
http://www.ekathimerini.com/218552/article/ekathimerini/community/they-stole-my-money-greek-dreams-of-retirement-turn-sour

What ,dropped to the level of the British pension? Poor sods, but at least they lived the high life for many many years unlike us Brits.

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[DILLIGAD]

What ,dropped to the level of the British pension? Poor sods, but at least they lived the high life for many many years unlike us Brits.

 

Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app

 

Maybe not quite right. They might have dropped to an equal age but what about the actual pension amount received??????

Are we not the lowest paid in Europe & all developed nations????

 

 

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[ivor bigun]

Maybe not quite right. They might have dropped to an equal age but what about the actual pension amount received??????
Are we not the lowest paid in Europe & all developed nations????
 
 
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Yes we are.

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[dick dasterdly]

On 6/19/2019 at 9:54 AM, sandyf said:

This thread is on UK pensions and what happens in other countries is off topic. Singular point mean very little, just as a reminder.

 

Greece once had a generous pension system – too generous to be sustainable, especially with an aging population. Retirement was possible from as early as the age of 55 after 30 years of work. Many had extra perks: public sector employees could retire as early as 52. Some women with young children could retire with a reduced pension at 50.

But the financial crisis left Greece reliant on international creditors, who pushed for economic change – not least to pensions. The standard retirement age is now 67. Many early retirement provisions have been abolished. Including pensions, incomes have dropped 40 percent over the last seven years of crisis.

http://www.ekathimerini.com/218552/article/ekathimerini/community/they-stole-my-money-greek-dreams-of-retirement-turn-sour

I've no doubt that the 'establishment' prefer everyone to believe that pensions are unsustainable - even though they themselves receive very generous pensions, and have shown no desire to reform their own pensions.....

[dabhand]

On ‎6‎/‎19‎/‎2019 at 4:35 PM, DILLIGAD said:

Maybe not quite right. They might have dropped to an equal age but what about the actual pension amount received??????

Are we not the lowest paid in Europe & all developed nations????

 

 

Sent from my iPhone using Tapatalk

Yes, lowest pension in the developed world. As noted in this recent World Economic Forum article.

https://www.weforum.org/agenda/2018/02/retirees-in-these-countries-receive-100-of-a-working-salary/

UK receiving 29% of a working wage on retirement, with OECD average at 63% and EU at 71%.

Factor in the frozen pensioners and it is even worse for those of us with no yearly uprating.

 

[ivor bigun]

Yes, lowest pension in the developed world. As noted in this recent World Economic Forum article.
https://www.weforum.org/agenda/2018/02/retirees-in-these-countries-receive-100-of-a-working-salary/
UK receiving 29% of a working wage on retirement, with OECD average at 63% and EU at 71%.
Factor in the frozen pensioners and it is even worse for those of us with no yearly uprating.
 

And from april next year they take away the wifes allowance as well.

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[khastan]

ivor bigun posted 23 hours ago.


And from april next year they take away the wifes allowance as well.

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The UK Government could not care less about its retired citizens living abroad. I suspect because they are sitting on a lovely gold plated index linked pension when it comes to their turn to retire. However how they can possibly justify taking over a third of a retired persons income off them per week at a point in their life when that person needs more money, not less beggars belief. When this comes into effect in April 2020 together with the ever decreasing exchange rate of pound to baht it will have wiped out at least 50% of my weekly income .

Edited June 22, 2019 by khastan

[billd766]

1 hour ago, khastan said:

ivor bigun posted 23 hours ago.


And from april next year they take away the wifes allowance as well.

Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app


The UK Government could not care less about its retired citizens living abroad. I suspect because they are sitting on a lovely gold plated index linked pension when it comes to their turn to retire. However how they can possibly justify taking over a third of a retired persons income off them per week at a point in their life when that person needs more money, not less beggars belief. When this comes into effect in April 2020 together with the ever decreasing exchange rate of pound to baht it will have wiped out at least 50% of my weekly income .

I understand your feelings as I am in a similar position, but the forex rate is a little bit out of their hands. It is not solely down to Brexit either, as I have a couple of Aussie mates and their forex rate to the baht has dropped worse than ours.

[evadgib]

Ensuring the right payments are made to the right people

Edited July 18, 2019 by evadgib

[evadgib]

On 5/10/2019 at 9:05 PM, evadgib said:

Of interest to anyone hoping to resume NI cont to top up their shortfall:

 

During a call to the Ni Cont office this afternoon I established that they're currently running TWELVE WEEKS BEHIND SCHEDULE from the date that letters are received in UK. I therefore have earmarked a date on my calendar in mid June in which I should ring them again to find out whether or not I can resume payments at the class 2 (self employed) rate as there is no way i'm paying cl3 (vol).

 

It's as clear as mud!

 

(I had the full 30 years required by my generation until they moved the goalposts in 2016!)

Update:

(salient points from a letter received last week and a subsequent call)

 

Class 3 seems to be the only option HMRC were interested in @ 15 quid per week.

 

Class 2 might still be available if self employed but they'll need some sort of paper trail whereas previously they didn't.

Edited July 18, 2019 by evadgib

[billzant]

Here is an ICBP campaign we could get behind on frozen pensions:-

 

"Theresa May wants to set up an office for tackling social injustices. This letter from ICBP Chairman, John Duffy, suggests how we can all help:

Dear ICBP Supporter,

In a recent article in the Guardian newspaper Mrs. May indicated that she wished to leave a legacy by which she would be remembered and is proposing an Office for Tackling Injustices. As a result ICBP sent the e-mail below to the Prime Minister -

Recently reported in the press, now confirmed by today's announcement, Mrs. May indicated she wished to leave a legacy by which she would be remembered and is proposing an Office for Tackling Injustices.
 

In a letter to cabinet ministers signed by Penny Mordaunt, the Minister for Women and Equalities, she said the office would "hold government and wider society to account for achieving changes against key social injustices".

A long outstanding key social injustice is the matter of Frozen Pensions.
 

Perhaps Mrs May might recollect the statement she made in 2017 about supporting people who have saved for their retirement. Also Mrs May has always claimed that she is implacably opposed to all forms of discrimination.

This being so, it is time to reverse the iniquitous government policy whereby many thousands are deprived of the pension for which they have paid equally with every other pensioner.
 

I trust this issue will be included in the mandate of the Office for Tackling Injustices.

This would be a good time for everyone to write to the Prime Minister politely demanding (rude correspondence is screened out) that the Office for Tackling Injustices investigates as an urgent priority the question of frozen pensions. You can write to the PM at https://email.number10.gov.uk/ but you are restricted to 1,000 characters so choose your words carefully (you will note that the above is exactly 1,000 characters so if you wish to copy and paste, please do so).

 

The more e-mails the PM receives, the more probable the subject will be considered.

John J Duffy - Chairman, ICBP"

 

[billzant]

send an online email here:-

https://email.number10.gov.uk/

[sandyf]

2 hours ago, billzant said:

Here is an ICBP campaign we could get behind on frozen pensions:-

 

"Theresa May wants to set up an office for tackling social injustices. This letter from ICBP Chairman, John Duffy, suggests how we can all help:

Dear ICBP Supporter,

In a recent article in the Guardian newspaper Mrs. May indicated that she wished to leave a legacy by which she would be remembered and is proposing an Office for Tackling Injustices. As a result ICBP sent the e-mail below to the Prime Minister -

Recently reported in the press, now confirmed by today's announcement, Mrs. May indicated she wished to leave a legacy by which she would be remembered and is proposing an Office for Tackling Injustices.
 

In a letter to cabinet ministers signed by Penny Mordaunt, the Minister for Women and Equalities, she said the office would "hold government and wider society to account for achieving changes against key social injustices".

A long outstanding key social injustice is the matter of Frozen Pensions.
 

Perhaps Mrs May might recollect the statement she made in 2017 about supporting people who have saved for their retirement. Also Mrs May has always claimed that she is implacably opposed to all forms of discrimination.

This being so, it is time to reverse the iniquitous government policy whereby many thousands are deprived of the pension for which they have paid equally with every other pensioner.
 

I trust this issue will be included in the mandate of the Office for Tackling Injustices.

This would be a good time for everyone to write to the Prime Minister politely demanding (rude correspondence is screened out) that the Office for Tackling Injustices investigates as an urgent priority the question of frozen pensions. You can write to the PM at https://email.number10.gov.uk/ but you are restricted to 1,000 characters so choose your words carefully (you will note that the above is exactly 1,000 characters so if you wish to copy and paste, please do so).

 

The more e-mails the PM receives, the more probable the subject will be considered.

John J Duffy - Chairman, ICBP"

 

Not a great deal of hope on that. There is no lack of reliable data, the DWP is perfectly aware of exactly how many are being deprived of their full pension.

 

"Downing Street said it would gather information where there was currently a lack of reliable data, but it would not make policy recommendations."

https://www.bbc.com/news/uk-politics-48958983

[billzant]

Good point, Sandy, according to the BBC article. ICBP are pushing the case so that they are doing something. Windrush offers us some hope as Windrush pensions are frozen as well.

 

Mind you, if enough people write something may happen. It is the kind of neutral campaign that she could put her name to.

 

[billd766]

30 minutes ago, billzant said:

Good point, Sandy, according to the BBC article. ICBP are pushing the case so that they are doing something. Windrush offers us some hope as Windrush pensions are frozen as well.

 

Mind you, if enough people write something may happen. It is the kind of neutral campaign that she could put her name to.

 

But she will be gone next week and whoever takes the poisoned chalice of Brexit is going to be too busy spinning plates to care about us.

 

 

[billzant]

So just do nothing??

It took less than 5 mins.

 

[sandyf]

21 hours ago, billzant said:

So just do nothing??

It took less than 5 mins.

 

Quite a lot has been done over the years and got nowhere and as Bill says at this point in time it is like pxxxing in the wind.

A defining moment will come with brexit when it is revealed what will happen in Europe as the current reciprocal agreement will come to an end.

[billzant]

Sorry I got frustrated 

 

Sandy, I took your point in the BBC article.

 

Whilst there are times to be tactically astute  and build up a targeted campaign, I feel ongoing campaigning is necessary if people can take the time - 5 mins. Maybe Brexit would be such a time. It will show the fallacy that they claim there can be no new reciprocal agreements.

However within reason I take every opportunity to add my voice, and of course as you say those opportunities are wasted effort. 

With regards to frozen pension as with so many injustices there is no reason for them other than greed and especially in this case inertia. Can we predict when injustices can be righted?

[fishtank]

On 7/18/2019 at 5:20 PM, billd766 said:

But she will be gone next week and whoever takes the poisoned chalice of Brexit is going to be too busy spinning plates to care about us.

 

 

Yes. We can blame the racists bigots for that can't we Bill?

[billd766]

13 hours ago, fishtank said:

Yes. We can blame the racists bigots for that can't we Bill?

You may blame the racist bigots for that, but please don't put your words in my mouth.

[stament]

On 7/18/2019 at 9:01 AM, evadgib said:

Update:

(salient points from a letter received last week and a subsequent call)

 

Class 3 seems to be the only option HMRC were interested in @ 15 quid per week.

 

Class 2 might still be available if self employed but they'll need some sort of paper trail whereas previously they didn't.

I thought the requirements for Class 2 was that you worked and lived in the UK for 3 consecutive years prior to moving abroad. If you then work abroad I thought you are able to pay class 2.

 

 

[evadgib]

Of Peripheral interest to ex plod

Edited July 22, 2019 by evadgib

[evadgib]

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

(Occupational pensions)

Edited July 22, 2019 by evadgib