UK Pensions and related info

[treetops]

The UK state pension.

 

 

https://www.thisismoney.co.uk/money/pensions/article-2787888/how-state-pension-funded-cash-runs.html

 

[Tanoshi]

2 hours ago, stouricks said:

Please tell me how you know what went on in a PM between two other members?

Obviously, someone forwarded the PM by PM to another member.

As long as the PM or it's content isn't posted on the open forum, it isn't in breach of the rules.

Quote

20) You will not post any member's personal information including emails, personal messages, photos or web site details. Contact information is permitted in the Job's section, but for the privacy and security of our members, we strongly urge the use of the PM function rather the posting of personal contact information.
 

However I would expect a PM to be treated as confidential and not shared with other third parties without previous consent. 

[Pumpuynarak]

17 hours ago, stouricks said:

Please tell me how you know what went on in a PM between two other members?

I think you are referring to a PM i was party to that was obviously shared with the idiot third party. The following confirms my belief, i then posted the whole PM to illustrate i knew exactly the process, there was nothing personal to warrant not posting the PM.

 

 

[nong38]

A note for you diaries, the UK November Financial update is on 25th November, it will be interesting to see what Rishi has to say especially about allowances as we did not get one this year and whether he is going to fiddle with pension triple lock situation.

I dont see much good news coming as sooner or later the cost of this virus is going to have to paid back.

[UKresonant]

14 hours ago, nong38 said:

A note for you diaries, the UK November Financial update is on 25th November, it will be interesting to see what Rishi has to say especially about allowances as we did not get one this year and whether he is going to fiddle with pension triple lock situation.

I dont see much good news coming as sooner or later the cost of this virus is going to have to paid back.

 

No good news I would expect, unless he kicks the can down the road for a while yet due to the continuing SARs2 persistence.

 

Sept CPI 0.5% (CPIH 0.7%), RPI 1.1%, So that has set the scene for my pension increases for 2021!  (But I still feel lucky compared with the folk economically devastated by the COVID, I was going to get back to work, to max out my state pension, not currently very practical ???? )

 

The triple lock may hang on for the April 2021 increase on the state pension, but I think it will be dead duck after that. It will be gone by the time I get the State Pension.

 

The Triple lock was to fix things after it lagging behind average earnings for years. I would anticipate it shall be changed to a double lock increase regime , e.g. the higher of CPIH or average earnings. (They really don't like R.P.I. anymore, which was generally CPI + 0.9, but they saw a way of a subtle complex compounding reduction, a simple average was not good enough anymore???? )

 

Not sure what "allowances" that are raising concerns....

 

 

 

[evadgib]

Link of interest re RPI:

A letter from Rishi Sunak to Sir David Norgrove on the date of the government and UK Statistics Authority’s response to their joint consultation on reform to the Retail Prices Index

[UKresonant]

16 hours ago, evadgib said:

Link of interest re RPI:

A letter from Rishi Sunak to Sir David Norgrove on the date of the government and UK Statistics Authority’s response to their joint consultation on reform to the Retail Prices Index

 

What are they up to now I wonder? R.P.I. was, in years past, normally just above CPI+0.9%?

Of Interest as the bulk of my current pension is R.P.I. linked! 

Perhaps they should look at using C.P.I.H. in place of C.P.I, as C.P.I. seems to promise to equate to a compound reduction of value in Real terms....

I thought R.P.I. continued to be issued, as changing it radically, with effect on R.P.I. linked Gov Gilts, was going to be treated as a default, by the credit rating agencies. Though they state it is not a Official ons stat.

Edited November 10, 2020 by UKresonant

[evadgib]

Veterans/Mil Pensioners should note that the house will debate the Military Covenant shortly after PMQs and '10 Min rule' questions this afternoon.

 

[evadgib]

While signing a PoL (Proof of life) cert for a vulnerable local resident with age related health concerns several points arose, namely;

 

- His visa status has unfortunately lapsed and precedes any amnesty protection that might have arisen as a result of the lockdown(s).

 

- He has a joint a/c with his wife/partner but the bank will not issue a card because the a/c is in joint names.

 

- His bank book is nearly full. Without a new one he/they will be unable to draw funds and without a valid visa his wife says the bank won't issue a new book. His passport remains valid for another 5 years.

 

His PoL cert isn't a problem as I am able to sign those, but I would like to somehow help them to help themselves if at all possible.

 

Eva

 

(Note: The Embassy and family in UK is a non-starter in this particular case with no criticism being directed at either of them)

@theoldgit, @ubonjoe

Edited November 17, 2020 by evadgib

[Tanoshi]

1 hour ago, evadgib said:

While signing a PoL (Proof of life) cert for a vulnerable local resident with age related health concerns several points arose, namely;

 

- His visa status has unfortunately lapsed and precedes any amnesty protection that might have arisen as a result of the lockdown(s).

 

- He has a joint a/c with his wife/partner but the bank will not issue a card because the a/c is in joint names.

 

- His bank book is nearly full. Without a new one he/they will be unable to draw funds and without a valid visa his wife says the bank won't issue a new book. His passport remains valid for another 5 years.

 

His PoL cert isn't a problem as I am able to sign those, but I would like to somehow help them to help themselves if at all possible.

 

Eva

 

(Note: The Embassy and family in UK is a non-starter in this particular case with no criticism being directed at either of them)

@theoldgit, @ubonjoe

 

I've sent a PM.

[evadgib]

Presumably of interest to this board, given there's an APPG on Pensions:

CSPL Submission to Parliamentary Inquiry into APPGs

Quote

Lord Evans, Chair of CSPL, wrote to Chris Bryant MP, Chair of the House of Commons Standards Committee, regarding their inquiry into All Party Parliamentary Groups.

 

[vogie]

Has anybody elses pension failed to turn up today (Friday) Bangkok Bank.????

[fishtank]

6 hours ago, vogie said:

Has anybody elses pension failed to turn up today (Friday) Bangkok Bank.????

Yesterday was a holiday in US. So it will be late.

[evadgib]

Rishi Sunak faces state pension conundrum

Quote

Retired people are set to receive a 4.1% rise in the state pension in April 2022, an official forecast predicts.

The state pension is going up by 2.5% in April 2021, but the bigger forecast rise in 2022 will come at a time when unemployment is expected to be high.

Chancellor Rishi Sunak will face a balancing act between keeping to a manifesto promise while addressing claims of intergenerational unfairness.

 

[norfolkandchance]

17 hours ago, vogie said:

Has anybody elses pension failed to turn up today (Friday) Bangkok Bank.????

Got mine this morning mate.

[vogie]

24 minutes ago, norfolkandchance said:

Got mine this morning mate.

Mine still not got in as of yet.????

[maxcorrigan]

12 hours ago, evadgib said:

Rishi Sunak faces state pension conundrum

 

Naturelly won't affect us ex-pats (traitors) in Thailand, God forbid!

[evadgib]

19 minutes ago, maxcorrigan said:

Naturelly won't affect us ex-pats (traitors) in Thailand, God forbid!

I fear this covid lark has scuppered our chances of achieving parity for at least a decade ????

[bert bloggs]

2 hours ago, maxcorrigan said:

Naturelly won't affect us ex-pats (traitors) in Thailand, God forbid!

But from what i read on here so many dont live in Thailand

[nong38]

A bit of good news maybe folks. HMRC has confirmed that personal allowances will be going up for 2021/22 so what does that mean? Well if they go by the September inflation figure of 0.5% that mean 62.50 to add to the 12500, however a glimmer of hope the Institute of Charted Accountants has said that a rise of 570 gbp would be more in line with current circumstances, so lets hope for the best but prepare for the worst.

[maxcorrigan]

21 hours ago, evadgib said:

I fear this covid lark has scuppered our chances of achieving parity for at least a decade ????

Agreed, what little hope was that is!

[cleopatra2]

10 hours ago, nong38 said:

A bit of good news maybe folks. HMRC has confirmed that personal allowances will be going up for 2021/22 so what does that mean? Well if they go by the September inflation figure of 0.5% that mean 62.50 to add to the 12500, however a glimmer of hope the Institute of Charted Accountants has said that a rise of 570 gbp would be more in line with current circumstances, so lets hope for the best but prepare for the worst.

Increased by September CPI . Confirmed in the recent spending review.

[nong38]

9 hours ago, maxcorrigan said:

Agreed, what little hope was that is!

Its incredible how 550m is deemed to expensive to up rate expat pensions when Rishi Sunak can suddenly find over 40 b!

By comparison its a drop in the ocean but it seems there is no will, but, please keep sending us your taxes, HMRC will not forget you.

[evadgib]

Updated 27th Nov & presumably of interest despite the private members bill re abolishing that '15 year' lark for overseas voters failed at the last hurdle when the election was called last year.

 

Review of electoral regulation: written evidence

Quote

Written evidence submitted to the Committee's review of electoral regulation.

 

Edited November 29, 2020 by evadgib

[rimmae2]

Some time ago I paid additional voluntary contributions. However, these are are still not reflected when I login on Government Gateway.

 

Is there any way to contact the relevant Department for confirmation that the money has been received? Telephone contact is for people who are retiring in the near future, which does not apply. 

[evadgib]

Pension related link from HMG today:

New advice to help savers make the most of their pensions

Quote

New advice to help savers see the full benefit of their pensions when they retire has been published by the government today.

 

[keithsimmonds]

On 11/28/2020 at 10:59 AM, evadgib said:

I fear this covid lark has scuppered our chances of achieving parity for at least a decade ????

On a Dark and very sad note ...would n,t the amount of "old People"that have died in there thousands from"Covid" leave more funds in the so called govt pension pot? No more free prescriptions bus passes pensions winter fuel payments etc etc

[UKresonant]

4 hours ago, keithsimmonds said:

On a Dark and very sad note ...would n,t the amount of "old People"that have died in there thousands from"Covid" leave more funds in the so called govt pension pot? No more free prescriptions bus passes pensions winter fuel payments etc etc

 

Will it even stop that statement the politicians were programmed to say "were all living longer", to push the State private and company Pension age upwards. Only applicable if you are lucky enough to have lived in the right area, had the right employment, and landed on the right side of a statistical median!

 

Pretty sure the state pension age won't be brought forward again.

 

I do feel sad about all those people, and to a lesser extent those that will find it difficult to complete pension ambitions for the next wee while....????.

[steve187]

On 12/14/2020 at 6:22 PM, rimmae2 said:

Some time ago I paid additional voluntary contributions. However, these are are still not reflected when I login on Government Gateway.

 

Is there any way to contact the relevant Department for confirmation that the money has been received? Telephone contact is for people who are retiring in the near future, which does not apply. 

Telephone:   0300 200 3500

Outside UK:  + 44 191 203 7010

Our phone line opening hours are:

Monday to Friday: 8am to 6pm Closed on Saturdays, Sundays and Bank Holidays.

Edited January 19, 2021 by steve187

[cooked]

9 hours ago, keithsimmonds said:

On a Dark and very sad note ...would n,t the amount of "old People"that have died in there thousands from"Covid" leave more funds in the so called govt pension pot? No more free prescriptions bus passes pensions winter fuel payments etc etc

These are, cold hard statistics, mostly people that have likely died a year or two earlier than they otherwise might have, presuming that there wouldn't be a bout of 'flu etc anyway. Statistically insignificant, as is most of the whole panic driven Covid story.