Uk State Pension

[benjamat]

I know that there has been a lot of talk about this concerning lack of increases in Thailand and what the pension is.

I have not seen this talked about before.

I recently applied over the internet for a forecast of my pension when I reach 65, wanted to be sure I had paid 42 years contributions.

The response I received was that the qualifying time is no longer 42 years but has been reduced to 30. ( why the hel_l are they increasing pension ages??)

In addition while I expected a forecast of the full state pension, about £90 now for single person, or whatever it happens to be when you are 65. I was pleasantly surprised to find I would be entitled not to £90 but to almost £150 at todays rates. On questioning them by phone it seems I have paid into thing like serps and other variants of additional pension over the years so am entitled to more.

I did not know I had done this and it seems that it is a lot to do with who you happened to work for.

So I think it is a good idea to get a pension forecast, just google uk pension forecast.

[dumball]

Wow Benjamat , that will give you a whole $350.00 or there abouts , B14,000 , you should try entry to Canada as a refugee , no previous experience or proof of work history needed , fix you up with a place to live and pay you $2,470 .00 , about 2 grand US , Thats about double what they give me back of my money after 40 years of paying some of the highest taxes in the world , maybe you should go back to the UK as a poloc .

[davyboy]

I know that there has been a lot of talk about this concerning lack of increases in Thailand and what the pension is.

I have not seen this talked about before.

I recently applied over the internet for a forecast of my pension when I reach 65, wanted to be sure I had paid 42 years contributions.

The response I received was that the qualifying time is no longer 42 years but has been reduced to 30. ( why the hel_l are they increasing pension ages??)

In addition while I expected a forecast of the full state pension, about £90 now for single person, or whatever it happens to be when you are 65. I was pleasantly surprised to find I would be entitled not to £90 but to almost £150 at todays rates. On questioning them by phone it seems I have paid into thing like serps and other variants of additional pension over the years so am entitled to more.

I did not know I had done this and it seems that it is a lot to do with who you happened to work for.

So I think it is a good idea to get a pension forecast, just google uk pension forecast.

Yes benjamat, but in your post you forgot to mention that the 90/150 pounds was per week!!

[patklang]

sounds about what i will earn at retirement plus my interest on 100,00 gbp pluse my private pension,just hope i live till 65 + lol.

[benjamat]

Didnt quite get dumballs comments.

I already have a private pension so the state pension is just a bonus.

I didnt say I thought that the general levels of uk pensions were good, in fact for anyone trying to live on them alone they are a disgrace.

Yes, my state pension would equate to around £700 a calender month.

[PaddyThai]

Didnt quite get dumballs comments.

I already have a private pension so the state pension is just a bonus.

I didnt say I thought that the general levels of uk pensions were good, in fact for anyone trying to live on them alone they are a disgrace.

Yes, my state pension would equate to around £700 a calender month.

£700 per month might keep you in a cardboard box in the UK but I reckon it's a nice income in warm, sunny Thailand.

well done.

[billd766]

Didnt quite get dumballs comments.

I already have a private pension so the state pension is just a bonus.

I didnt say I thought that the general levels of uk pensions were good, in fact for anyone trying to live on them alone they are a disgrace.

Yes, my state pension would equate to around £700 a calender month.

£700 per month might keep you in a cardboard box in the UK but I reckon it's a nice income in warm, sunny Thailand.

well done.

Before income tax. :D

[MiG16]

Im moving this to the jobs and finance section

[phutoie2]

Personal tax allowance goes up from current 6035 GBP to 9030 GBP when you reach age 65 for UK, not much but will mean your old age pension should not be taxed, just company ones!!

A few weeks ago I read of lobbying by TUC to HM Gov - GB & co that no tax be paid on low income earners- 10,000 GBP per year. Now that would help a little