You Think Thailand Is Bad? Try The Uk Pensions Lot!

[bendix]

the UK goverment is likely to implement a ,STATE PENSION OF £140. per week across the board.

so people who have paid a state, earnings related pension ,

tough <deleted>.

Just a proposal at this stage, and a long way from being 'likely'.

[billd766]

the UK goverment is likely to implement a ,STATE PENSION OF £140. per week across the board.

so people who have paid a state, earnings related pension ,

tough <deleted>.

Just a proposal at this stage, and a long way from being 'likely'.

But only for new pensioners at the time and extremely unlikely to be backdated for anybody.

[bendix]

And in fact, I believe I'm right in saying that the early proposals are that it will NOT be available for those living overseas, which will give people even more of a reason to whine about how fairly they are treated.

The answer remains simple in my view. Manage your affairs so you are not reliant upon the state.

[thaibeachlovers]

And in fact, I believe I'm right in saying that the early proposals are that it will NOT be available for those living overseas, which will give people even more of a reason to whine about how fairly they are treated.

The answer remains simple in my view. Manage your affairs so you are not reliant upon the state.

While I do not wish to get into an argument about it, many people did in fact try to manage their affairs so that they were not reliant on the state, but either inflation destroyed their savings or the bankers/ financiers with their ponzi/ subprime/ just plain criminal activities destroyed the value of their investments.

Remember that most people are not financial experts, and have to trust the so called "experts", many of which, unfortunately, were not acting in their clients interests.

[billd766]

And in fact, I believe I'm right in saying that the early proposals are that it will NOT be available for those living overseas, which will give people even more of a reason to whine about how fairly they are treated.

The answer remains simple in my view. Manage your affairs so you are not reliant upon the state.

While I do not wish to get into an argument about it, many people did in fact try to manage their affairs so that they were not reliant on the state, but either inflation destroyed their savings or the bankers/ financiers with their ponzi/ subprime/ just plain criminal activities destroyed the value of their investments.

Remember that most people are not financial experts, and have to trust the so called "experts", many of which, unfortunately, were not acting in their clients interests.

When I did my retirement planning I did it during the prevailing conditions of the time.

Sadly as with most people conditions change and not always for the better though I have had a few of those as well.

As far as I can see all those "experts" were also caught out badly and those that got it right are billionaires now though I dont think there are many of them either.

[nong38]

I'm 65 in April,last September I notified UK pensions of my address in Thailand,later they sent me the forms to make a claim,sent them back to them and have now had my monthly payment amount to be started paying in May,no probs.They also sent me a letter saying that a company by their a that I worked for in the 60's-70's are trying to get in touch with me to pay me a pension.I can't fault the UK pension system at all.

Wait and watch for the yearly inflation increases, they will be conspicuous by their absence, you might think differently then.

[nong38]

the UK goverment is likely to implement a ,STATE PENSION OF £140. per week across the board.

so people who have paid a state, earnings related pension ,

tough <deleted>.

I suspect it will only apply to new entrants to the claiming game and not to those already claiming. £140 across the board, mmmm I wonder what happens to my SERPS and graduated contributions, will they disappear to pay for it?

[nong38]

And in fact, I believe I'm right in saying that the early proposals are that it will NOT be available for those living overseas, which will give people even more of a reason to whine about how fairly they are treated.

The answer remains simple in my view. Manage your affairs so you are not reliant upon the state.

While I do not wish to get into an argument about it, many people did in fact try to manage their affairs so that they were not reliant on the state, but either inflation destroyed their savings or the bankers/ financiers with their ponzi/ subprime/ just plain criminal activities destroyed the value of their investments.

Remember that most people are not financial experts, and have to trust the so called "experts", many of which, unfortunately, were not acting in their clients interests.

When I did my retirement planning I did it during the prevailing conditions of the time.

Sadly as with most people conditions change and not always for the better though I have had a few of those as well.

As far as I can see all those "experts" were also caught out badly and those that got it right are billionaires now though I dont think there are many of them either.

Just the two of us then Bill!

[billd766]

And in fact, I believe I'm right in saying that the early proposals are that it will NOT be available for those living overseas, which will give people even more of a reason to whine about how fairly they are treated.

The answer remains simple in my view. Manage your affairs so you are not reliant upon the state.

While I do not wish to get into an argument about it, many people did in fact try to manage their affairs so that they were not reliant on the state, but either inflation destroyed their savings or the bankers/ financiers with their ponzi/ subprime/ just plain criminal activities destroyed the value of their investments.

Remember that most people are not financial experts, and have to trust the so called "experts", many of which, unfortunately, were not acting in their clients interests.

When I did my retirement planning I did it during the prevailing conditions of the time.

Sadly as with most people conditions change and not always for the better though I have had a few of those as well.

As far as I can see all those "experts" were also caught out badly and those that got it right are billionaires now though I dont think there are many of them either.

Just the two of us then Bill!

Nah, the others aren't either but they don't want to say so.

[msg362]

Just to update to the OP, No pension still after ?8 days. Phoned again on Monday 27th. Kind lady said' Oh the button wasn't pressed and no payment was made, very sorry. I've pressed the button now and the payment is "pending"'

No transfer in two days, I'm holding my breath until Friday ( I think 3 working days is enough even for the slowest electronic transfer systems?) Soon time for my next payment ( 16th March). I hope I don't have to go through this again!

[bendix]

And in fact, I believe I'm right in saying that the early proposals are that it will NOT be available for those living overseas, which will give people even more of a reason to whine about how fairly they are treated.

The answer remains simple in my view. Manage your affairs so you are not reliant upon the state.

While I do not wish to get into an argument about it, many people did in fact try to manage their affairs so that they were not reliant on the state, but either inflation destroyed their savings or the bankers/ financiers with their ponzi/ subprime/ just plain criminal activities destroyed the value of their investments.

Remember that most people are not financial experts, and have to trust the so called "experts", many of which, unfortunately, were not acting in their clients interests.

Yet more sentiments blaming other people and outside forces.

Managing your affairs means taking these risks into consideration. Which generation hasn't had a period of massive inflation to deal with, or some kind of sharemarket collapse or recession?

The problem is that people panic. Fortunes and life savings have been lost when sharemarkets fall, NOT because of the fall but because people turn those paper losses into real losses by selling instead of holding their nerve.

Edited February 29, 2012 by bendix

[transam]

Just read that the UK is to give FREE HIV treatment on the NHS to foreign ''visitors'' to protect the UK natives, so l think pension stuff will move a bit nearer to the back burner as the immigration queues will now be miles long.

[exeter]

Just to update to the OP, No pension still after ?8 days. Phoned again on Monday 27th. Kind lady said' Oh the button wasn't pressed and no payment was made, very sorry. I've pressed the button now and the payment is "pending"'

No transfer in two days, I'm holding my breath until Friday ( I think 3 working days is enough even for the slowest electronic transfer systems?) Soon time for my next payment ( 16th March). I hope I don't have to go through this again!

It must have been a terrible experience for you and I hope it gets sorted out along with the likely missing payment.

[ludditeman]

the UK goverment is likely to implement a ,STATE PENSION OF £140. per week across the board.

so people who have paid a state, earnings related pension ,

tough <deleted>.

I suspect it will only apply to new entrants to the claiming game and not to those already claiming. £140 across the board, mmmm I wonder what happens to my SERPS and graduated contributions, will they disappear to pay for it?

New entrants 140UKP, SERPS gone, graduated gone.

[exeter]

Just read that the UK is to give FREE HIV treatment on the NHS to foreign ''visitors'' to protect the UK natives, so l think pension stuff will move a bit nearer to the back burner as the immigration queues will now be miles long.

I can see them now stacked up on the M20 northbound between junctions 8 to 8. 3 lanes + hard shoulder and 9 miles.

[cardholder]

And in fact, I believe I'm right in saying that the early proposals are that it will NOT be available for those living overseas, which will give people even more of a reason to whine about how fairly they are treated.

The answer remains simple in my view. Manage your affairs so you are not reliant upon the state.

In the 30 - odd years that I worked, I don't recall an option NOT to pay NIC's. It was stated, throughout that time, that paying said NIC's would entitle you to receive a state pension. On that understanding I managed my affairs.

[thaibeachlovers]

Just read that the UK is to give FREE HIV treatment on the NHS to foreign ''visitors'' to protect the UK natives, so l think pension stuff will move a bit nearer to the back burner as the immigration queues will now be miles long.

The more of this "you couldn't make it up" stuff, and the more rational Glenn Beck's theory becomes!

[msg362]

Third phone call, still no money 8 days after the first call. A 'Glen' said : 'Oh yes you should have your money but we have a problem with the computer. I'll get someone to phone you'

Now what help is a phone call? money would be nice!!! strikes me in Thailand they ( civil servants) just have a different set of excuses

Try again tomorrow!

[changnaam]

Do you expect someone else to put food on your table? As bendix said earlier make your own provisions. Grown adults expecting someone else to look after them. Govt pension is a nice addition but look after yourself, do not expect someone else to do it

[changnaam]

Do you expect someone else to put food on your table? As bendix said earlier make your own provisions. Grown adults expecting someone else to look after them. Govt pension is a nice addition but look after yourself, do not expect someone else to do it

[exeter]

Well I had a bit of a shock yesterday! Went to check my company pension and found that there was a reduction. Looking further into it I found that those jolly japes at the HMRC and decided to put me on a tax code of 430! Previously it had been 747 although according to their own website I should have been on 994.

My daughter said the same thing has happened to her at the same time and out of the blue, maybe you all should just check it out.

[lovelomsak]

I wish that everybody who has a UK state pension was entitled to the same where ever they choose to live,but with the current economic struggle things are only going to get worse,I pay my taxes and NI in the UK still,I'm 32 and worked since I left school,but the government want me to work until I am 67 or likely 70 for my pension is that fair.

Rather than worry about if it's fair, make it a non-issue by making your own provisions for retirement and dont rely on the state. Then you can retire at whatever age you like.

The retirement age in the UK is NOT 67 or 70. The age at which you receive a state pension is 67 and rising. You can retire at any age you like.

I can't think of a better incentive for saving yourself, rather than be subject to the political and economic whims of governments 9000 miles away.

Good advice IF you are earning enough to pay one of the (thieving) UK private pension providers for a private pension.

Unfortunately, many in the UK do not earn enough nowadays and, things are getting worse...

The old excuse, trotted out time and time again.

People make their own choices in life. Those same people who are earning so little that they can't tuck away 5% of their income are probably sitting at home watching flatscreen tvs, thinking its their right to have overseas holidays, head to the pub or restaurant a couple of times a week, eat processed food rather than making their own and drive a couple of cars.

We have forty years working life. If people can't plan ahead a little, then we're in a sorry state.

I agree 100%. Seems most people spend their lifes income on depreciating material things,letting the state worry about their future caregiving. They buy the latest mobile phones, computers, expensive cars,dress in fashion,eat and drink in restaurants and pubs. Then when they get old are angry with the state for not having a pension fund that allows them to maintain that level of life. A state is only responsible to see that you donot freeze sleeping on the streets or die of hunger anything beyond that is your responsibility.

[travelmann]

I'm trying to raise the issue of communication, the UK Pensions system is not fine if it can't pass information from one office to another.

If they freeze my pension why can't they also freeze the exchange rate as they claim it's a 'benefit in kind' ( This question is a joke!!)

Good lets hope they stay that way when i am here permanently, I like incompetence it helps me keep one step ahead. Id steal form any govt beacsue lets face it they will screw you over without a care in the world.

[StreetCowboy]

I'm trying to raise the issue of communication, the UK Pensions system is not fine if it can't pass information from one office to another.

If they freeze my pension why can't they also freeze the exchange rate as they claim it's a 'benefit in kind' ( This question is a joke!!)

Good lets hope they stay that way when i am here permanently, I like incompetence it helps me keep one step ahead. Id steal form any govt beacsue lets face it they will screw you over without a care in the world.

I don;'t see why you elected them, if you trust the government so little.

I get fed up with people who come up with any trumped-up excuse to justify their own dishonesty.

I have found the UK tax authorities to be fair; its not the taxman's fault that other government departments spend profligately and set him unreasonable targets of revenue; nor does the revenue-man set the tax-bands; that is the exchequer that your elected government appoints. Unfortunately, people forget that the bread and circuses that were in the election manifestoes have to be paid for out of the other pocket.

Remember that a corporation never got to vote, and a bribe never elected a politician. The only people you can blame for your choice of government is yourselves.

SC

[msg362]

Do you expect someone else to put food on your table? As bendix said earlier make your own provisions. Grown adults expecting someone else to look after them. Govt pension is a nice addition but look after yourself, do not expect someone else to do it

If this is addressed to me I don't understand it. As an employee I was obliged to pay 'National Insurance' which was for a pension There was no choice.. It was in some ways linked to my salary although whenever I could I opted out. I also paid into private pensions. They, as per contract, are indexed linked, while the state pension is not for those living in Thailand, but is elsewhere. That's what is putting food on the table this month!

My whinge is that the State has simply stopped paying me because I told them of a change of address! Since then, after several weeks they are still showing incompetence.

[msg362]

Well I had a bit of a shock yesterday! Went to check my company pension and found that there was a reduction. Looking further into it I found that those jolly japes at the HMRC and decided to put me on a tax code of 430! Previously it had been 747 although according to their own website I should have been on 994. My daughter said the same thing has happened to her at the same time and out of the blue, maybe you all should just check it out.

This might be because you have started to draw your stat pension. For some inexplicable reason ,the pensions lot cannot deduct 20% tax at source like my pensions, so they tell your primary pension people to lower your tax code to collect the tax that way. Mine is around 300 i think

[msg362]

I'm trying to raise the issue of communication, the UK Pensions system is not fine if it can't pass information from one office to another. If they freeze my pension why can't they also freeze the exchange rate as they claim it's a 'benefit in kind' ( This question is a joke!!)

Good lets hope they stay that way when i am here permanently, I like incompetence it helps me keep one step ahead. Id steal form any govt beacsue lets face it they will screw you over without a care in the world.

I don;'t see why you elected them, if you trust the government so little. I get fed up with people who come up with any trumped-up excuse to justify their own dishonesty. I have found the UK tax authorities to be fair; its not the taxman's fault that other government departments spend profligately and set him unreasonable targets of revenue; nor does the revenue-man set the tax-bands; that is the exchequer that your elected government appoints. Unfortunately, people forget that the bread and circuses that were in the election manifestoes have to be paid for out of the other pocket. Remember that a corporation never got to vote, and a bribe never elected a politician. The only people you can blame for your choice of government is yourselves. SC

It's no the tax people, it's pensions ( Department of work and pensions), a separate department. The freezing of inflation proofing is a consistent policy whichever political party is in power, which means votes don't help. ( BTW way both departments are reasonable to deal with, it's just that nothing is happening!

[StreetCowboy]

I'm trying to raise the issue of communication, the UK Pensions system is not fine if it can't pass information from one office to another. If they freeze my pension why can't they also freeze the exchange rate as they claim it's a 'benefit in kind' ( This question is a joke!!)

Good lets hope they stay that way when i am here permanently, I like incompetence it helps me keep one step ahead. Id steal form any govt beacsue lets face it they will screw you over without a care in the world.

I don;'t see why you elected them, if you trust the government so little. I get fed up with people who come up with any trumped-up excuse to justify their own dishonesty. I have found the UK tax authorities to be fair; its not the taxman's fault that other government departments spend profligately and set him unreasonable targets of revenue; nor does the revenue-man set the tax-bands; that is the exchequer that your elected government appoints. Unfortunately, people forget that the bread and circuses that were in the election manifestoes have to be paid for out of the other pocket. Remember that a corporation never got to vote, and a bribe never elected a politician. The only people you can blame for your choice of government is yourselves. SC

It's no the tax people, it's pensions ( Department of work and pensions), a separate department. The freezing of inflation proofing is a consistent policy whichever political party is in power, which means votes don't help. ( BTW way both departments are reasonable to deal with, it's just that nothing is happening!

I was responding to Travelmann; I sympathise with your frustrations, when things go wrong and no-one, least of all yourself or the people within it, understand the bureaucratic machine and how it should work, but clearly is not. In my experience, a common cause of this is a failure to plan the implementation of IT systems; neither adopting and adapting your own systems to fit an off-the-shelf IT solution, nor adequately defining your own systems and putting in the resources to get a tailored system that matches. I don't think that the inflation - freezing is a matter of policy for any of the major parties, It is just something that is already in place and that they do not feel the need to change. I imagine there is some good reason for the infaltion-freezing in certain countries, that may or may not still be relevant... no-one has really explored that issue on this thread, and its not something of particular interest to myself, since I am sure the regulations will be very different if ever I am able to retire

SC

[msg362]

Travelman:

No problem. I think the inflation freezing is something to do with 'reciprocal agreements' If the foreign state inflation proof it's expats, the the UK will do the same, So I may be wrong. but NZ does and Australia doesn't, so if you live in NZ you get the UK inflation rise, Aus, no. EU countries are inflation proofed and for ,I suppose this reason, the Phillippines is.

[nong38]

Travelman:

No problem. I think the inflation freezing is something to do with 'reciprocal agreements' If the foreign state inflation proof it's expats, the the UK will do the same, So I may be wrong. but NZ does and Australia doesn't, so if you live in NZ you get the UK inflation rise, Aus, no. EU countries are inflation proofed and for ,I suppose this reason, the Phillippines is.

New Zealand is not one of the favoured countries.