Vote for the UK government to index link pensions in Thailand

[billd766]

14 hours ago, BritManToo said:

There's nothing for you to file.

You get an email telling you your tax code is changed, and your new tax code = your personal allowance - your state pension. The new and reduced tax code is used for your other incomes/pensions. Nothing gets deducted from your state pension.

 

If your personal allowance is 12,000 GBP, and your state pension is 9,000 GBP, your tax code becomes 3,000 GBP.

 

No need for you to even think.

 

If the state pension is your only income then you will not pay any tax at all. However if you have any additional income such as pensions etc HMRC will total up the amount, subtract the remainder of your personal allowance from you extra incomes and tax the balance at the basic rate and IIRC that is 20%.

 

https://www.gov.uk/income-tax-rates

 

Income tax bands are different if you live in Scotland.

Band                            Taxable income         Tax rate
Personal Allowance    Up to £12,570               0%
Basic rate                    £12,571 to £50,270       20%
Higher rate                  £50,271 to £150,000    40%
Additional rate            over £150,000              45%

 

You do not get a Personal Allowance on taxable income over £125,140.

[transam]

49 minutes ago, billd766 said:

No matter what the government says it is NOT a benefit.

 

https://www.dailymail.co.uk/news/article-2812400/Stop-treating-state-pension-like-benefit-earned-lifetime-work-says-minister.html

 

https://www.gov.uk/state-pension

 

https://www.ageuk.org.uk/information-advice/money-legal/pensions/state-pension/new-state-pension/

 

The state pension is a bit like a pantomime with one lot saying "it is a benefit" and the other lot saying, "oh no its not"

https://petition.parliament.uk/archived/petitions/121267#:~:text=The State Pension is described,in the National Insurance Fund.

[John Drake]

I'm not sure what a topic dealing with British pensions has to do with Thai news, but one thing is clear from all the complaints in this thread. The British are doing far worse economically in Thailand than are the Russians.

[Will B Good]

9 minutes ago, John Drake said:

I'm not sure what a topic dealing with British pensions has to do with Thai news, but one thing is clear from all the complaints in this thread. The British are doing far worse economically in Thailand than are the Russians.

Home Country Forum........but yes, the British are basically swindled out of their pensions by the government and pension companies.......I read somewhere that the Dutch enjoy pensions 70% greater than the British for the same contributions made.