Uk State Pension

[techno]

I reach 65 in March 2012 l have received details of the amount l will receive from DWP about 6 months ago. Do l at this stage need to do anything so l can receive my pension into my Thai bank account on the due date. I have not contacted DWP nor have l received any forms from them to complete. Any advice would be much appreciated

Edited December 7, 2011 by techno

[meatboy]

hi techno you need to get intouch with the dep.for work and pensions and ask them to send you the pension claim forms,and you must tell them your living abroad,[3months before its due] get in touch with THE PENSION SERVICE[iNTERNATIONAL] TYNEVIEW PARK,WHITLEY ROAD,NEWCASTLE-UPON-TYNE NE 98 1BA,TELL.NO [44] [0]1912 187777 ITHINK THE CLAIM FORMS ARE IPCBRI. IF YOU TELLEPHONE.THEM I FOUND THEM VERY HELPFULL.you have a choice of them paying your pension into a uk bank or the bank in thailand,MONTHLY OR EVERY 3MONTHS

[meatboy]

forgot to mention did you know you can claim the o.a.p.tax allowance for this year 2011-2012 as you birthday falls in march.happy retirement.

[exeter]

You are aware that once DWP know you are out of the UK and in Thailand you pension will be frozen ie no more annual increases?

You might consider defering your pension, you can look on the pension website it will explain all but in simple terms, you can defer in 5 week chunks, a year deferal will give you an extra 10.4% + the annual increase for the year as well. Once you have claimed your pension you will not be able to switch to the deferal. So just have a think about it.

[meatboy]

You are aware that once DWP know you are out of the UK and in Thailand you pension will be frozen ie no more annual increases?

You might consider defering your pension, you can look on the pension website it will explain all but in simple terms, you can defer in 5 week chunks, a year deferal will give you an extra 10.4% + the annual increase for the year as well. Once you have claimed your pension you will not be able to switch to the deferal. So just have a think about it.

yes you can defere your pension but if you have any other income when you do claim it, you can have an extra weekly amount[there is a post on this somewhere] or you can have a lump sum which will be added to any other income,so if you are over the threshold you will be taxed,this year its just under £10,000.i made sure i claimed mine before the start of the new tax year.

[prodriver]

If they know your current address you will receive the application forms about three months prior to your 65th birthday. I did when I reached 65 last October and yes, they did know that I lived in Thailand.

They will send you form 'IPCBR1' but I downloaded the other form 'BR1' and sent that one. For me it was a much easier form to complete and was accepted with no problem. With the 'IPCBR1' form they want you to send your birth certificate with the application and they ask you if you have ever lived/worked in the UK and if you have, they want a full history of your employment details and addresses in the UK. I worked for more than 14 employers during my time in the UK so this caused me some headaches in trying to recall these details. The standard 'BR1' form doesn't require you to provide these details neither do they want to see your birth certificate.

In my opinion the 'IPCBR1' form is more for someone who has spent a minimal amount of time in the UK. I found the 'BR1' form geared more for someone in my circumstances.....i.e. someone who had spent the majority of their life working and living in the UK and had now moved to Thailand toward the end of their working life to retire. Anyway, have a look at the two forms (which you can do on line) and decide for yourself. :jap:

[PattayaPhom]

Enjoy your retiement, some of us have to wait till at least 68 years of age, and probably longer if that muppet Cameroon keeps on increasing foreign aid.

[chiang mai]

Enjoy your retiement, some of us have to wait till at least 68 years of age, and probably longer if that muppet Cameroon keeps on increasing foreign aid.

Edited December 7, 2011 by chiang mai

[elliss]

Enjoy your retiement, some of us have to wait till at least 68 years of age, and probably longer if that muppet Cameroon keeps on increasing foreign aid.

i second that , you have payed enough into the pot ,

enjoy spending your penson, on

whatever you want to.

:jap:

[ExpatJ]

Enjoy your retiement, some of us have to wait till at least 68 years of age, and probably longer if that muppet Cameroon keeps on increasing foreign aid.

Well foreign aid is nothing compared to the rest of the national budget.

I have never paid national contributions (always worked outside of UK) so am not eligible for pension at 65..but just discovered that when you hit 80 years old, you get a state pension whether you have paid national contributions or not- for those who may be interested...

[Tafia]

http://www.direct.gov.uk/en/index.htm

[steve187]

The increased tax allowance when reaching 65, has to be claimed it will not increase automatically. form P161. link here - http://www.hmrc.gov.uk/pensioners/approaching-why.htm

[Darrel]

I have never paid national contributions (always worked outside of UK) so am not eligible for pension at 65..

You always had the option of paying. I haven`t lived or worked in the UK for nearly 40 years but my NI contributions have always been up to date.

[PattayaParent]

Enjoy your retiement, some of us have to wait till at least 68 years of age, and probably longer if that muppet Cameroon keeps on increasing foreign aid.

Well foreign aid is nothing compared to the rest of the national budget.

I have never paid national contributions (always worked outside of UK) so am not eligible for pension at 65..but just discovered that when you hit 80 years old, you get a state pension whether you have paid national contributions or not- for those who may be interested...

any links to that?

[PattayaParent]

I have never paid national contributions (always worked outside of UK) so am not eligible for pension at 65..

You always had the option of paying. I haven`t lived or worked in the UK for nearly 40 years but my NI contributions have always been up to date.

I think the ability to back pay is now only 5 years again but now only 30 contributions (years) are required to get a full pension entitlement and for any shortfall you get pro rata pension.

[techno]

Many thanks to all TV members who have supplied me with some very useful information. I can now get the ball rolling with my UK pension as l have not yet received the forms from DWP. Will enjoy the extra money in my pocket during my retirement

[personchester]

You are aware that once DWP know you are out of the UK and in Thailand you pension will be frozen ie no more annual increases?

You might consider defering your pension, you can look on the pension website it will explain all but in simple terms, you can defer in 5 week chunks, a year deferal will give you an extra 10.4% + the annual increase for the year as well. Once you have claimed your pension you will not be able to switch to the deferal. So just have a think about it.

Yes, you get the 10.4 % interest should you wish to apply for an annual payment deferral of your pension, but as an expat in Thailand (or any other country where UK pensions are frozen) your pension will be frozen just the same at the legal pension age of 65, whether you take the pension payment immediately, or go for a deferral.

You can take an annual referral for several years, and the 10.4% interest rate is based on your frozen pension, there will be no annual increase.

Should you go for a 5 year deferral, then at age 70 you get your 5 year pension sum based on the figure that was applicable when you reached age 65, the 10.4 % interest sum comes as a separate payment at the same time.

There is no advantage in going for a pension deferral, since income tax has to be paid for both the pension and the 10.4 % interest payments, thus it is better to take your pension, because as an expat you can invest the money tax free.

[personchester]

You are aware that once DWP know you are out of the UK and in Thailand you pension will be frozen ie no more annual increases?

You might consider defering your pension, you can look on the pension website it will explain all but in simple terms, you can defer in 5 week chunks, a year deferal will give you an extra 10.4% + the annual increase for the year as well. Once you have claimed your pension you will not be able to switch to the deferal. So just have a think about it.

Yes, you get the 10.4 % interest should you wish to apply for an annual payment deferral of your pension, but as an expat in Thailand (or any other country where UK pensions are frozen) your pension will be frozen just the same at the legal pension age of 65, whether you take the pension payment immediately, or go for a deferral.

You can take an annual referral for several years, and the 10.4% interest rate is based on your frozen pension, there will be no annual increase.

Should you go for a 5 year deferral, then at age 70 you get your 5 year pension sum based on the figure that was applicable when you reached age 65, the 10.4 % interest sum comes as a separate payment at the same time.

There is no advantage in going for a pension deferral, since income tax has to be paid for both the pension and the 10.4 % interest payments, thus it is better to take your pension, because as an expat you can invest the money tax free.

[personchester]

Enjoy your retiement, some of us have to wait till at least 68 years of age, and probably longer if that muppet Cameroon keeps on increasing foreign aid.

Yes, but your chaps of a younger age are expected to live a little longer than we old boys, thus the bonus is yours.

[theoldgit]

Yes, you get the 10.4 % interest should you wish to apply for an annual payment deferral of your pension, but as an expat in Thailand (or any other country where UK pensions are frozen) your pension will be frozen just the same at the legal pension age of 65, whether you take the pension payment immediately, or go for a deferral.

If you are saying that if you defer claiming your pension, for a year or shorter period, then you will only receive the pension, plus any extra from you deferral, that was in place when you reach State Pension Age, then I think you may be mistaken.

Like the OP, I reach State Pension Age towards the end of March 2012, I had considered deferring for the minimum 5 week period, I knew I would lose a little over £510, but believed that I would then gain a little over £6 a week taking into account the new rates from April and the 1% for the deferral, so after 85 weeks I would break even and would benefit from the higher rate for life, however long that would be.

I had mixed advice on this forum, some people said, as I believe you are saying, that you still receive that rate applicable at the date you reach State Pension Age, whilst the majority say that you are paid the rate applicable when you actually claim it. I thought I would write to The International Pension Centre, and I got this reply yesterday:

Dear theoldgit

Thank you for your recent email.

When you claim your UK State Pension, you will be paid using the rates applicable at that date.

Therefore if you claim after April 2012, your pension will be paid using the 2012 rates.

[nong38]

The frozen pensionis only frozen when you take it, as far as HMRC are concerned DWP as well, I reside in the UK. When you fill the form in to claim your pension one of the questions where you have lived in the last year, have you spent more than 90 days out of the UK? Until you fill in the form you will regarded as not claiming your state pension and acrueing the enhanced amount. That is how I see it and all others I know see it. Once you start to claim and they know you are aborad then that is a different thing, they will only freeze it when they know you are out of the special countries and want to claim the pension.

When I go back to the UK in the spring I will sign up for Govt Gateway so that I can get only forecasts of the pension, if anyone has already signed up then they may be able to email the DWP and get it in writing.

There is nowhere on the claim form where it says that deferral of the pension for UK pensioners abroad is frozen at 65 regardless of when you claim it.

[meatboy]

Yes, you get the 10.4 % interest should you wish to apply for an annual payment deferral of your pension, but as an expat in Thailand (or any other country where UK pensions are frozen) your pension will be frozen just the same at the legal pension age of 65, whether you take the pension payment immediately, or go for a deferral.

If you are saying that if you defer claiming your pension, for a year or shorter period, then you will only receive the pension, plus any extra from you deferral, that was in place when you reach State Pension Age, then I think you may be mistaken.

Like the OP, I reach State Pension Age towards the end of March 2012, I had considered deferring for the minimum 5 week period, I knew I would lose a little over £510, but believed that I would then gain a little over £6 a week taking into account the new rates from April and the 1% for the deferral, so after 85 weeks I would break even and would benefit from the higher rate for life, however long that would be.

I had mixed advice on this forum, some people said, as I believe you are saying, that you still receive that rate applicable at the date you reach State Pension Age, whilst the majority say that you are paid the rate applicable when you actually claim it. I thought I would write to The International Pension Centre, and I got this reply yesterday:

Dear theoldgit

Thank you for your recent email.

When you claim your UK State Pension, you will be paid using the rates applicable at that date.

Therefore if you claim after April 2012, your pension will be paid using the 2012 rates.

there is a little bit of missunderstanding,i was 65 in march 2010,i informed them i was defering my pension i did not give a date,i then informed them i would claim my pension on13th march 2011 so not to go into the next tax year april 2011-2012 and asked a lump sum be paid,my pension rate was calculated on 2011 rates,if i had let it go to the next tax year 2012 i would have paid tax of aprox £1,200 .so if i continue to live a lot longer that will be my bonus.whats been said already if you decide to have your deferal amount added to your weekly pension instead of a lump sum in my case i would have to live another 20years to get what amount i had defered £6,200.

so if you have some savings draw out enough to last you say 12months leave your pension because you wont get 10.4% interest anywhere.[beware of the scamers who can get y more]

[exeter]

Yes, you get the 10.4 % interest should you wish to apply for an annual payment deferral of your pension, but as an expat in Thailand (or any other country where UK pensions are frozen) your pension will be frozen just the same at the legal pension age of 65, whether you take the pension payment immediately, or go for a deferral.

If you are saying that if you defer claiming your pension, for a year or shorter period, then you will only receive the pension, plus any extra from you deferral, that was in place when you reach State Pension Age, then I think you may be mistaken.

Like the OP, I reach State Pension Age towards the end of March 2012, I had considered deferring for the minimum 5 week period, I knew I would lose a little over £510, but believed that I would then gain a little over £6 a week taking into account the new rates from April and the 1% for the deferral, so after 85 weeks I would break even and would benefit from the higher rate for life, however long that would be.

I had mixed advice on this forum, some people said, as I believe you are saying, that you still receive that rate applicable at the date you reach State Pension Age, whilst the majority say that you are paid the rate applicable when you actually claim it. I thought I would write to The International Pension Centre, and I got this reply yesterday:

Dear theoldgit

Thank you for your recent email.

When you claim your UK State Pension, you will be paid using the rates applicable at that date.

Therefore if you claim after April 2012, your pension will be paid using the 2012 rates.

Yes you have been getting mixed advice and I would suggest now that you see who gave the right advice you look for their imput in the future and not the ones who cant understand the forms, you know who they are now.

[MAJIC]

Whatever your decision,whether to defer your Pension or not,

You should at least delay claiming your Pension until after the increase in State Pension in April 2012,so that you get the new proposed increase of 5.2%.

After which, if you are living in Thailand? your Pension there will be frozen,and no more Annual increases.

Edited December 9, 2011 by MAJIC

[exeter]

Whatever your decision,whether to defer your Pension or not,

You should at least delay claiming your Pension until after the increase in State Pension in April 2012,so that you get the new proposed increase of 5.2%.

After which, if you are living in Thailand? your Pension there will be frozen,and no more Annual increases.

Good advice, now you have time to think what you want to do, you will need to give them notice and the cash option is a bad one, it a good one if you live for over 10 years after you recieve it, so do you feel lucky or dont you? Feel lucky take the weekly increases, but as they say here its up to you what fits your situation, its easy for us to sit here and spend someone else money and life, it wont affect us.