UK pensions

[Krataiboy]

Interesting that there was no mention in the Autumn statement about the mooted plan to deprive UK pensioners who reside overseas of the standard tax allowance, which I believe is now 10,500 pounds per annum - which, in my case, would mean the loss of around a fifth of pensions income.

Is this, I wonder, because the government has yet to assess the findings of the Consultation on this controversial proposal? And will we have to wait until the next Budget to learn our fate. With government finances in such a shambles and Osborne starting to sell off the family silver, the portents do not look encouraging.

Anybody heard any whispers on the grapevine?

[chiang mai]

I'll bet the farm that if expat pensions are unfrozen it will go hand in hand with loss of the personal allowance, can you seriously imagine the Chancellor dropping the freeze without taking it back another way!

[jacky54]

Removal of the tax allowance would be a serious hit for most people

[lungbing]

Don't let's start this rumour off again. It never was mooted. What was considered was removing the allowance for rental income if you were non-resident.

[ignis]

550,000 people saving on the health care, Hospitals, Drs, medication, care homes + Full pensions + all the other Benefits if in UK you get on top of the state pension..

Rather think we save the UK Government a lot by Not living in the UK...

wonder what would happen if we all got together and 550,000 people returned to the UK to claim all the Housing, health Care and other Benefits ??

[i claudius]

550,000 people saving on the health care, Hospitals, Drs, medication, care homes + Full pensions + all the other Benefits if in UK you get on top of the state pension..

Rather think we save the UK Government a lot by Not living in the UK...

wonder what would happen if we all got together and 550,000 people returned to the UK to claim all the Housing, health Care and other Benefits ??

trouble is it will never happen ,and they know it

[JB300]

The UK state pension has been revealed as one of the worst in the world. Among developed countries only people in Mexico and Chile can look forward to a relatively worst retirement payout...

http://www.independent.co.uk/money/state-pension-shock-only-workers-in-mexico-and-chile-get-worse-a6756336.html

Edited December 2, 2015 by JB300

[i claudius]

The UK state pension has been revealed as one of the worst in the world. Among developed countries only people in Mexico and Chile can look forward to a relatively worst retirement payout...

http://www.independent.co.uk/money/state-pension-shock-only-workers-in-mexico-and-chile-get-worse-a6756336.html

This is also reported in todays D.M

[nong38]

ONly Chile and Mexico in the western world have been shown to be more stibgy than the UK where pensions are concerned according to Moneymail today, I dont think its required reading for the DWP staff sadly but they not wrong are they?

[JB300]

Was also picked up by the Guardian...

British workers will have worst pensions of any major economy...

http://www.theguardian.com/money/2015/dec/01/british-workers-worst-pensions-major-economy-uk-retirement-age-oecd

So at least it's getting some airtime [emoji106]

Edited December 3, 2015 by JB300

[transam]

Was also picked up by the Guardian...

British workers will have worst pensions of any major economy...

http://www.theguardian.com/money/2015/dec/01/british-workers-worst-pensions-major-economy-uk-retirement-age-oecd

So at least it's getting some airtime [emoji106]

Yahoo News a few days back too...

[Expattaff1308]

The International Consortium of British Pensioners (ICBP)

More coverage from the ICBP UK visit. This time in the Telegraph

http://www.telegraph.co.uk/finance/personalfinance/expat-money/12031851/British-pension-is-paltry-but-theres-hope-for-those-with-frozen-payments.html

Edited December 5, 2015 by Expattaff1308

[JoePai]

Quote : For every person that comes back to the UK there is an associated cost, not least within the NHS. In contrast, someone emigrating saves the UK government around £4,100 a year each according to estimates from the ICBP.

Maybe the UK should pay our hospital bills

[Eff1n2ret]

Quote : For every person that comes back to the UK there is an associated cost, not least within the NHS. In contrast, someone emigrating saves the UK government around £4,100 a year each according to estimates from the ICBP.

Maybe the UK should pay our hospital bills

It would be nice if for a start they reverted to the pre-April 2015 arrangements for UK expat pensioners visiting the UK, so that we're not faced with ruinous hospital bills if we fall ill while on holiday there. (Off topic rant!)

[NoshowJones]

So it looks like the new flat rate state pension will have a starting point of £155.60.

As said before, not all will get that much and some will get more.

Clear as mud. Simple and fair.

You think that's fair?? Example, someone born in say 1946, starts work in 1962, retires on a state pension in 2011.

That person is not going to get 155.50 GBP per week, in April 2016, even if he has paid all his NI contributions.

Unless of course I have missed something.

Edited December 5, 2015 by possum1931

[Red Parrot Fish]

So it looks like the new flat rate state pension will have a starting point of £155.60.

As said before, not all will get that much and some will get more.

Clear as mud. Simple and fair.

You think that's fair?? Example, someone born in say 1946, starts work in 1962, retires on a state pension in 2011.

That person is not going to get 155.50 GBP per week, in April 2016, even if he has paid all his NI contributions.

Unless of course I have missed something.

Agree. For a lot of people it is not fair.

A lot will be losing out.

All a bit of a shambles.

Edited December 5, 2015 by Red Parrot Fish

[kingalfred]

It is still a scandal that pensioners in Asia are treated different to those living in EU. #saynotoeu

[JB300]

It is still a scandal that pensioners in Asia are treated different to those living in EU. #saynotoeu

Not true, as far as pensions are concerned, UK pensioners in Philippines get exactly the same benefits/increases as pensioners in the UK as do UK pensioners living in the US.

It's about having a reciprocal social benefits arrangement between the UK & the country in question, nothing to do with Europe save the fact that this kind of agreement is part of the core EU agreement covering membership.

Edited December 6, 2015 by JB300

[sandyf]

So it looks like the new flat rate state pension will have a starting point of £155.60.

As said before, not all will get that much and some will get more.

Clear as mud. Simple and fair.

You think that's fair?? Example, someone born in say 1946, starts work in 1962, retires on a state pension in 2011.

That person is not going to get 155.50 GBP per week, in April 2016, even if he has paid all his NI contributions.

Unless of course I have missed something.

You have missed something. The person that retired in 2011 will have the basic pension increased to £119.30 a week plus any additional pension or private pension from their NI contributions.

Anyone who retired in 2011 and worked all their life is unlikely to be receiving less than £155.50 from their NI contributions unless they were on a very low income. Many tend to ignore the benefits from their contracted out NI contributions.

It is the ones coming on to the new system that are more likely to dip out than those already retired.

[NoshowJones]

So it looks like the new flat rate state pension will have a starting point of £155.60.

As said before, not all will get that much and some will get more.

Clear as mud. Simple and fair.

You think that's fair?? Example, someone born in say 1946, starts work in 1962, retires on a state pension in 2011.

That person is not going to get 155.50 GBP per week, in April 2016, even if he has paid all his NI contributions.

Unless of course I have missed something.

You have missed something. The person that retired in 2011 will have the basic pension increased to £119.30 a week plus any additional pension or private pension from their NI contributions.

Anyone who retired in 2011 and worked all their life is unlikely to be receiving less than £155.50 from their NI contributions unless they were on a very low income. Many tend to ignore the benefits from their contracted out NI contributions.

It is the ones coming on to the new system that are more likely to dip out than those already retired.

This is all too complicated, i'll just wait till the time comes.

[sandyf]

So it looks like the new flat rate state pension will have a starting point of £155.60.

As said before, not all will get that much and some will get more.

Clear as mud. Simple and fair.

You think that's fair?? Example, someone born in say 1946, starts work in 1962, retires on a state pension in 2011.

That person is not going to get 155.50 GBP per week, in April 2016, even if he has paid all his NI contributions.

Unless of course I have missed something.

You have missed something. The person that retired in 2011 will have the basic pension increased to £119.30 a week plus any additional pension or private pension from their NI contributions.

Anyone who retired in 2011 and worked all their life is unlikely to be receiving less than £155.50 from their NI contributions unless they were on a very low income. Many tend to ignore the benefits from their contracted out NI contributions.

It is the ones coming on to the new system that are more likely to dip out than those already retired.

This is all too complicated, i'll just wait till the time comes.

Bit of an understatement. With the variation in income, qualifying years and contracted out years, the possible combinations of any particular state pension arrangement must be close to that of the national lottery.

[theoldgit]

May I take the liberty of once again reminding members of the forum rule/netiquette regarding multiple nested quotes.

5. Please do not quote multiple nested quotes. Quote only the relevant section that you are discussing. Moderators will snip excessively long nested quotes.

There have been a number of complaints about the number of follow on quotes which a handful of members are making, which is making the thread difficult to follow,

Thank you.

[Kwasaki]

Since the IPC got the extra Thai banking swift reference code that was wanted I get my pension 4 days later instead of the Monday due date, just wanted to ask others here if they find the same.

I'm with Bangkok Bank.

Thanks.

[transam]

Since the IPC got the extra Thai banking swift reference code that was wanted I get my pension 4 days later instead of the Monday due date, just wanted to ask others here if they find the same.

I'm with Bangkok Bank.

Thanks.

Same same...

[evadgib]

Some Pension related info here for Ex-Servicemen on page 13:

Veterans World Issue 36 - new digital edition

Edited December 13, 2015 by evadgib

[nong38]

For anyone who is thinking of deferring their pension please take note that the rate falls from 10.4% to 5.8% from April 2016 which means you will to live for an extra 20 years or so get your money back, you will from next year be giving up £6000 to get the extra income of 5.8%. Is it worth it anymore?

[Expattaff1308]

The International Consortium of British Pensioners (ICBP)

Dear Supporter of pension unfreezing:
As 2015 comes to an end, we want to let you know what is happening in our campaign for justice for frozen British pensioners around the world.
Some of you will be up to date with our activities, through membership in our constituent organizations BPiA and CABP, and others may have picked something up from the British press recently:

http://www.thesundaytimes.co.uk/sto/business/money/pensions/article1638099.ece

http://www.telegraph.co.uk/expat/campaigns/frozenpensions/

Much of this press interest was generated because ICBP directors, John Markham and myself were in London at the end of November to address the All Party Parliamentary Group (APPG), led by Sir Roger Gale on frozen pensions. We urge you to look at the website of this APPG and their proposal that the government look at the possibility of “partial uprating” http://www.frozenbritishpensions.org

We want to make it clear that our campaign is focused on full indexation of pensions, which is the solution that is fairer to the most elderly of pensioners who have lost out the most, but we see this ‘partial uprating”, as a first step and some movement, where there has never been any before.

During the many meetings John and I had during our trip, we were encouraged by the support being generated by the APPG and the real commitment of their party’s support from the SNP and the DUP. The SNP have a very cohesive voice in parliament and are making themselves heard.
So, what now from our supporters? Well, we need your stories. Both MPs and the press need new stories of;

People in the UK, particularly if they are from the SAME community who are currently or would be impacted by the possibility of a frozen pension if they moved overseas in retirement

Anyone living in a frozen country who may have to return to the UK because of their frozen pension

Anyone of Scottish background who is or who may become a frozen pensioner ( it works best if this is someone who retired recently, rather than someone who left the UK many years ago) Please, if you can help with this contact us at http://[email protected]

We also ask that you contact your MP (if you live overseas, you still have an MP in your old constituency) and ask them to join the All Party Parliamentary Group and also to sign Early Day Motion 767

We really believe that our campaign is being taken very seriously in Westminster and need this extra push from all our supporters who want to fight with us against this discriminatory and unjust policy. With all your help and ideas, we will prevail.
Happy New Year to all our supporters.
Sheila Telford
Director, ICBP

[Ace of Pop]

Seems to me Freezing is Common Theft

[autanic]

Just to clarify:

Providing you still have a fixed abode in the UK and pay Council Tax (its important), then you do not need to declare any absence. Do you think Simon Cowell or Sean Connery declare their long term absences from the UK. If you do declare then yes you can expect your benefits to be cut, but as long as you pay your Council Tax, then they will simply assume your still in the UK. Its not like they go knocking on door checking.

[loppylugs1]

Just to clarify:

Providing you still have a fixed abode in the UK and pay Council Tax (its important), then you do not need to declare any absence. Do you think Simon Cowell or Sean Connery declare their long term absences from the UK. If you do declare then yes you can expect your benefits to be cut, but as long as you pay your Council Tax, then they will simply assume your still in the UK. Its not like they go knocking on door checking.

the fixed abode can be anything,paid for or not,I like a paid one in Benidorm,lose the summer cooling allowance though,but DWP hate writing there

PS paying council tax is not important

Edited December 21, 2015 by loppylugs1