Frozen British Pensions

[saengd]

Option 1:

 

Labour gets in and uprates all the overseas pensions,

But the Pound heads seriously South based on Labour spending plans and the GBP/THB ex-rate sinks,

Net effect on overseas pensioners is a loss,

A bad voting move if increased income is your end game.

 

Option 2

 

Bojo gets a majority,

Markets regain confidence,

Pound increases in value,

GBP/THB ex-rate improves.

As a resident expat this option would get my vote.

 

 

[DannyCarlton]

30 minutes ago, peterb17 said:

And maybe a return to currency controls - I remember the days when you could only take £50 spending money abroad on holiday ! 

Yes I remember that too. I also remember that it was the very first legislation Thatcher repealed after election, which allowed labour intensive manufacturers to liquidate their assets and move manufacturing abroad causing unemploymenyt rates to rise from less than 1 million to 3.5 million. Great for business, not so great for the working man.

[jesimps]

6 hours ago, oldhippy said:

So you think that bringing UK pensions up to European standards is not a priority - and that would not only mean defrosting pensions, but raising them substantially ?  The UK cannot afford such a thing?

In that case, vote conservative or Farage and remain a century behind Europe.

 

Gave your post an up vote by mistake. Pse delete.

 

[vogie]

[twix38]

Is there nothing Corbyn won't promise to get elected!

 

The guy is a danger to the economy.

 

A reckless man focused on giveaways to bribe voters. It would all end in tears if he's elected.

[ianh68]

10 hours ago, DannyCarlton said:

Not sure that that's true.

Here's the horse's mouth (page 22). What do you think?

Funding-Real-Change.pdf

[Surasak]

9 hours ago, kingdong said:

Right on,all they,ve got to do is print some more money..................

Which is why they are intent on planting more tree,no doubt?

[scubascuba3]

3 minutes ago, twix38 said:

Is there nothing Corbyn won't promise to get elected!

 

The guy is a danger to the economy.

 

A reckless man focused on giveaways to bribe voters. It would all end in tears if he's elected.

Hopefully he'll be turfed out once he loses and the labour party moves away from the left. Maybe Keir Starmer to get them back on track

[ianh68]

10 hours ago, vogie said:

Yes, vote for the everything is free party, a four day week, free broadband, only today Labour anounced that it would cut a third off rail travel. Remember folks this is a once in a life time opportunity, it doesn't have to be paid for, it is all free. Labour will plant 2 billion trees, everything is free under Labour, you'd be a fool not to vote Labour and they're coming to take me away ha ha hee hee, to the funny farm where life is beautiful all the time...................

The manifesto is fully costed

 

8 hours ago, oldhippy said:

I just can not believe this is true!!!!!!

 

British pensions are not only sub standard but also frozen for emigrants???

If other European countries can afford decent pensions, why not the UK?

 

Time for a revolution, not led by that softy Corbyn, but by a real left winger.

 

It is a big problem true. You can retire to the US and get your pension upgraded, but go to Canada and you are f**cked. There is a campaign been going a long time about this injustice http://pensionjustice.org/

Funding-Real-Change.pdf

Edited December 3, 2019 by ianh68

[saengd]

6 minutes ago, ianh68 said:

Here's the horse's mouth (page 22). What do you think?

Funding-Real-Change.pdf 1.4 MB · 0 downloads

It says, "uprate state pensions of expats overseas", it doesn't say increase state pension for overseas expats to new pension levels. Think about it, if expat pensions were increased to the new level they would be higher than a majority of UK resident pensioners!

[ianh68]

6 hours ago, champers said:

Any increase could be gobbled up by higher income tax payments required to pay for promises being kept.

Income tax will only be levied on the top 5%

[vogie]

3 minutes ago, ianh68 said:

The manifesto is fully costed

 

By who, Dianne Abbott? Corbyn is adding to his rediculous manifesto daily.

[saengd]

1 minute ago, ianh68 said:

Income tax will only be levied on the top 5%

In your dreams, only in your dreams. Numeracy is not your strong point, we can tell!

[Matzzon]

12 hours ago, fishtank said:

For some bizarre reason the Brits seem to prefer the serial liar against the decent man.

Hasn´t that almost always been a fact?

[potless]

2 minutes ago, saengd said:

It says, "uprate state pensions of expats overseas", it doesn't say increase state pension for overseas expats to new pension levels. Think about it, if expat pensions were increased to the new level they would be higher than a majority of UK resident pensioners!

I recently read something to that effect. As an example, currently expat pensioner A receives 50 pounds a week and pensioner B receives 100 pounds a week. Assuming an inflation rate of 2%, the uprating would mean that next year, pensioner A would get 51 pounds a week and pensioner B would get 102 pounds a week. Thats how I read it.

[ianh68]

4 hours ago, scubascuba3 said:

The thing is Corbyn would kill the stock market and value of pound so any pension increase will be quickly lost. Let's all pray Labour don't get in. Personally i think he has no chance

This could happen if the usual short termism kicked in, But Labour don't seem to be messing about on this and are fully aware which is why the establishment is running scared and dog piling like there is no tomorrow.

 

https://www.ft.com/content/e06aa3a6-a2c5-11e7-b797-b61809486fe2

[crazykopite]

Sorry I would rather see my pension frozen than see these clowns in Government . There may come a day when we all have to return back to what once was home .

[saengd]

5 minutes ago, potless said:

I recently read something to that effect. As an example, currently expat pensioner A receives 50 pounds a week and pensioner B receives 100 pounds a week. Assuming an inflation rate of 2%, the uprating would mean that next year, pensioner A would get 51 pounds a week and pensioner B would get 102 pounds a week. Thats how I read it.

Not quite.

 

For example, my UK state pension was frozen at 110 Pounds per week when I left the UK to live in Thailand. Two years ago, when I declared myself UK resident once again, DWP started to pay me all of the increases I had not received since I left the UK hence my pension was increased to 125 Pounds per week.

[ianh68]

1 hour ago, spoon1967 said:

Let's hope they don't. Decent man? Please elaborate.

Try these for starters

 

https://www.theguardian.com/commentisfree/2019/dec/01/the-corbyn-i-know-is-a-rare-thing-warm-decent-and-interested-in-justice

 

http://islingtontribune.com/article/the-jeremy-corbyn-we-know-the-most-decent-man-in-politics

 

 

[saengd]

7 minutes ago, ianh68 said:

This could happen if the usual short termism kicked in, But Labour don't seem to be messing about on this and are fully aware which is why the establishment is running scared and dog piling like there is no tomorrow.

 

https://www.ft.com/content/e06aa3a6-a2c5-11e7-b797-b61809486fe2

Beyond deluded, if you were an American you would have voted for Trump I imagine.

[reargunnerph3]

10 hours ago, vogie said:

Yes, vote for the everything is free party, a four day week, free broadband, only today Labour anounced that it would cut a third off rail travel. Remember folks this is a once in a life time opportunity, it doesn't have to be paid for, it is all free. Labour will plant 2 billion trees, everything is free under Labour, you'd be a fool not to vote Labour and they're coming to take me away ha ha hee hee, to the funny farm where life is beautiful all the time...................

Well said. All politicians are liars, they will promise you everything you could ever dream of and once they are elected they fill their pockets with your money and you get nothing. I'd believe the promises of a Soi 6 hooker before a politician.

[ianh68]

55 minutes ago, saengd said:

"For those already retired the base line will be what the pension is now rather than what it should be had it been uprated since the date of retirement".

 

.....is the wrong answer, the opposite is true.

I think you need to justify this statement before raising unrealistic hopes. See page 22 of the costings manifesto.

Funding-Real-Change.pdf

[Guderian]

Yeah, it's the usual Socialist fairy tale promise, they'll index your pension by 3% or 5% or whatever but the manifesto doesn't mention that Labaa's stupid and obscene spending promises will result in the pound dropping in value by at least 50% in short order. If the sheep vote Labaa in then enjoy your 3% indexation, because in Baht terms your state pension will only be worth half what it is now.

[potless]

14 minutes ago, saengd said:

Not quite.

 

For example, my UK state pension was frozen at 110 Pounds per week when I left the UK to live in Thailand. Two years ago, when I declared myself UK resident once again, DWP started to pay me all of the increases I had not received since I left the UK hence my pension was increased to 125 Pounds per week.

Thats right. You have to "resettle" for a period of time. I  think that some expats may be hoping that their pensions will be automatically raised to current levels with no strings attached. Not that simple.

[saengd]

16 minutes ago, ianh68 said:

I think you need to justify this statement before raising unrealistic hopes. See page 22 of the costings manifesto.

Funding-Real-Change.pdf 1.4 MB · 0 downloads

I have read Page 22 and my answer is exactly the same, there is absolutely nothing in there to support what you claim, if you think there is you best quote it here so we can all see.

[shackleton]

The Labour Party can promise the earth  knowing they have no 2 chances of winning the General Election 

Bob Hope and No hope

now if they changed their leader  who knows?

[saengd]

2 minutes ago, potless said:

Thats right. You have to "resettle" for a period of time. I  think that some expats may be hoping that their pensions will be automatically raised to current levels with no strings attached. Not that simple.

And "current level" means what.....my current level is based on the old system, a maximum of about 129 Pounds per week. A person in a different age group would belong to the new system which is much higher, around 165 Pounds as I recall. So to suggest that all expats would be brought up to the new rate is simply ludicrous.

[Rookiescot]

1 hour ago, saengd said:

Option 1:

 

Labour gets in and uprates all the overseas pensions,

But the Pound heads seriously South based on Labour spending plans and the GBP/THB ex-rate sinks,

Net effect on overseas pensioners is a loss,

A bad voting move if increased income is your end game.

 

Option 2

 

Bojo gets a majority,

Markets regain confidence,

Pound increases in value,

GBP/THB ex-rate improves.

As a resident expat this option would get my vote.

 

 

Option 2 is pure fairy tale.

More unicorns and rainbows from the Brexiteers.

[potless]

2 minutes ago, saengd said:

And "current level" means what.....my current level is based on the old system, a maximum of about 129 Pounds per week. A person in a different age group would belong to the new system which is much higher, around 165 Pounds as I recall. So to suggest that all expats would be brought up to the new rate is simply ludicrous.

Correct. that is why I posted my original example.

[DannyCarlton]

54 minutes ago, ianh68 said:

Here's the horse's mouth (page 22). What do you think?

Funding-Real-Change.pdf 1.4 MB · 4 downloads

As clear as mud to me. I can only say that if you return to the UK your pension becomes unfrozen and you immediately recieve the full pension at the same rate as everyone else.

 

If the government scraps the frozen pensions of those abroad, I can't see any other practical way forward, other than this.