UK pensions

[Ricardo]

and preferably with a stake through his heart, just to make certain !

I think you are being hard on one chap rather than the rest of the cross party ilk, a single ticket to Antarctica would be more appropriate, where they can have a 2nd go without interfering with our lives. I find it hard in recent times to think of one thing they did on my behalf and am I alone with that thought?

Antarctica ?

Now that's what I call a frozen pension !

[nontabury]

It is interesting to note that the descendant of the charlatan Freud, Lord Freud or should it be Lord Fraud is one of the prime movers to constructing obstacles to any proposed ex pat pension increase.

Those 50 satang intellectuals are indeed expert a understanding that which is good for the lower orders both intellectually and financially.

Nice to see that the parasite has no qualms about leeching of off the taxpayer whilst feathering its own nest.

This parasite, lord Freud not only comes from a very,very rich family, he himself is a wealthy former investment Banker, he does not know what it's like to have to live on a small amount of money, this was possibly one of the reasons why last autumn he suggested that the disabled should be prepared to take any employment, including accepting payment below the minimum wage, while at the same time being entitled to claim expenses of £300 per day, approximately

£250 more than a carer receives per MONTH.

[Lite Beer]

Budget 2015: George Osborne set to unveil pension reforms

George Osborne is to unveil plans to extend pension freedoms to retirees who already have an annuity as part of next week's Budget, the BBC understands.

The Chancellor is expected to allow pensioners to cash in existing annuity policies for an immediate lump sum.

The changes, which are not expected to come in before April 2016, could affect five million people.

New regulations that allow working people to cash in their pension savings take effect on 6 April.

The pension reforms - which were announced in last year's Budget - allow people to cash in all or part of their defined contribution pension when they retire, rather than buy an annuity that guarantees an income for life.

Pensioners had been required to buy annuities under the old rules.

The latest changes will give pensioners who have already retired greater choice of how to access their savings in retirement, Mr Osborne is expected to announce on Wednesday, as part of his final Budget before the general election.

Read More: http://www.bbc.com/news/uk-31892518

-- BBC 2015-03-14

[Liquorice]

For those who may consider taking their Pension Pots, it's important to understand the tax implications.

A very good article in the Telegraph explains what you need to know before making your choices.

https://uk.finance.yahoo.com/news/tables-reveal-tax-bill-pension-071826906.html

Is anyone thinking of taking advantage of these Pension reforms, and why?

[jpinx]

For those who may consider taking their Pension Pots, it's important to understand the tax implications.

A very good article in the Telegraph explains what you need to know before making your choices.

https://uk.finance.yahoo.com/news/tables-reveal-tax-bill-pension-071826906.html

Is anyone thinking of taking advantage of these Pension reforms, and why?

Thanks for the heads up -- very useful article.

I have a small annuity which pays a very small income quarterly which is lumped together with other income for tax purposes. I don't have any tax-free allowance left, so there seems little point in trying to get the annuity paid back. It begs the question -- Why did HMRC come up with this scheme at all -- if not to hoodwink the unsuspecting or desperate? There appears to be no advantages but many expensive pitfalls.

[Liquorice]

I'm not at state pension age yet, but receive a monthly income from a private pension annuity.

It's just on the personal allowance threshold, so I don't currently pay tax.

I'd have to live until I'm 96 though to get back what I contributed.

However when I'm 65, I'll get another smaller company pension plus the state pension.

I'm still considering what my options are?

[Chivas]

Is anyone thinking of taking advantage of these Pension reforms, and why?

Absolutely but will minimise the withdrawals annually rather than in one massive hit so as to avoid higher rate tax........

I got zero intention of dropping off my mortal coil with 6 figure investments

Live for today or in my case securing the next 15 years Winters in Thailand by which time I'd be to old to perform anyway

[MaeJoMTB]

For those who may consider taking their Pension Pots, it's important to understand the tax implications.

A very good article in the Telegraph explains what you need to know before making your choices.

https://uk.finance.yahoo.com/news/tables-reveal-tax-bill-pension-071826906.html

Is anyone thinking of taking advantage of these Pension reforms, and why?

Thanks for the heads up -- very useful article.

I have a small annuity which pays a very small income quarterly which is lumped together with other income for tax purposes. I don't have any tax-free allowance left, so there seems little point in trying to get the annuity paid back. It begs the question -- Why did HMRC come up with this scheme at all -- if not to hoodwink the unsuspecting or desperate? There appears to be no advantages but many expensive pitfalls.

Lots of us have company pensions and private pension plans.

So you take out the private money to live on (10k/year) tax free, then delay taking the company pension for the deferral increases.

Returns on the private pensions is trivial, compared to the deferral increases.

[Chivas]

For those who may consider taking their Pension Pots, it's important to understand the tax implications.

A very good article in the Telegraph explains what you need to know before making your choices.

https://uk.finance.yahoo.com/news/tables-reveal-tax-bill-pension-071826906.html

Is anyone thinking of taking advantage of these Pension reforms, and why?

Thanks for the heads up -- very useful article.

I have a small annuity which pays a very small income quarterly which is lumped together with other income for tax purposes. I don't have any tax-free allowance left, so there seems little point in trying to get the annuity paid back. It begs the question -- Why did HMRC come up with this scheme at all -- if not to hoodwink the unsuspecting or desperate? There appears to be no advantages but many expensive pitfalls.

Lots of us have company pensions and private pension plans.

So you take out the private money to live on (10k/year) tax free, then delay taking the company pension for the deferral increases.

Returns on the private pensions is trivial, compared to the deferral increases.

I liked that answer before reading it carefully.

You cant have a Company Pension and a Personal Pension (that you are contributing to ) ??

[MaeJoMTB]

For those who may consider taking their Pension Pots, it's important to understand the tax implications.

A very good article in the Telegraph explains what you need to know before making your choices.

https://uk.finance.yahoo.com/news/tables-reveal-tax-bill-pension-071826906.html

Is anyone thinking of taking advantage of these Pension reforms, and why?

Thanks for the heads up -- very useful article.

I have a small annuity which pays a very small income quarterly which is lumped together with other income for tax purposes. I don't have any tax-free allowance left, so there seems little point in trying to get the annuity paid back. It begs the question -- Why did HMRC come up with this scheme at all -- if not to hoodwink the unsuspecting or desperate? There appears to be no advantages but many expensive pitfalls.

Lots of us have company pensions and private pension plans.

So you take out the private money to live on (10k/year) tax free, then delay taking the company pension for the deferral increases.

Returns on the private pensions is trivial, compared to the deferral increases.

I liked that answer before reading it carefully.

You cant have a Company Pension and a Personal Pension (that you are contributing to ) ??

I had 3 pensions at one time, 2 company pensions plus a private pension in the form of AVCs.

(and a state pension in addition to those)

Edited March 15, 2015 by MaeJoMTB

[nong38]

Is anyone thinking of taking advantage of these Pension reforms, and why?

Absolutely but will minimise the withdrawals annually rather than in one massive hit so as to avoid higher rate tax........

I got zero intention of dropping off my mortal coil with 6 figure investments

Live for today or in my case securing the next 15 years Winters in Thailand by which time I'd be to old to perform anyway

Are you a musician, if so what are your fees ( before tax)? I hope you are not planning to retire to early, there are a lot of "musicians" in Thailand who think they can sing, even our dog gets under the table when they start squealing, I think they call it coyote but one can never be sure here.

Edited March 15, 2015 by nong38

[Chivas]

Is anyone thinking of taking advantage of these Pension reforms, and why?

Absolutely but will minimise the withdrawals annually rather than in one massive hit so as to avoid higher rate tax........

I got zero intention of dropping off my mortal coil with 6 figure investments

Live for today or in my case securing the next 15 years Winters in Thailand by which time I'd be to old to perform anyway

Are you a musician, if so what are your fees ( before tax)? I hope you are not planning to retire to early, there are a lot of "musicians" in Thailand who think they can sing, even our dog gets under the table when they start squealing, I think they call it coyote but one can never be sure here.

What are you on about....?? Musicians.....??

[nong38]

Is anyone thinking of taking advantage of these Pension reforms, and why?

Absolutely but will minimise the withdrawals annually rather than in one massive hit so as to avoid higher rate tax........

I got zero intention of dropping off my mortal coil with 6 figure investments

Live for today or in my case securing the next 15 years Winters in Thailand by which time I'd be to old to perform anyway

Are you a musician, if so what are your fees ( before tax)? I hope you are not planning to retire to early, there are a lot of "musicians" in Thailand who think they can sing, even our dog gets under the table when they start squealing, I think they call it coyote but one can never be sure here.

What are you on about....?? Musicians.....??

What can you still perform then? Are you an acrobat perhaps?

[nong38]

Listening to BBC 5 live this morning, "Wake up to Money" they are speculating about the budget and in particular about allowances its been agreed that it will go up to 10600 but the speculation is 11000 now, wednesday we will know but the Lib Dems love their allowance increases and it just might be on for that reason, looking at the polls.

Something else I came by which might be of use to some is that the DWP have a free service available to help you track down "lost pensions" maybe someone you worked for a long time ago for a few years, there might be something there for you. They wont do all the donkey work for you but will point you in the right direction...........www.gov.uk/find-lost-pension

[evadgib]

Fixed link:

Find a lost pension

[nong38]

Budget today 1230GMT, live on the BBC website.

[siampolee]

nong 38 post # 1031

Budget today 1230GMT, live on the BBC website.

Usual old claptrap.

More beer in bigger glasses and jam tomorrow .

Unless your an ex-pat pensioner of course

[Chivas]

Budget today 1230GMT, live on the BBC website.

11k tax allowance seems to be on the cards for 16/17

[billd766]

Still to do with UK pensions but relevant to Thailand.

I had an email from the RBL today referring to the letter of confirmation of pension details provided by the UK embassy.

WEF 23rd March 2015

From 23^rd March 2015 British nationals requiring

• Consular letter confirming pension/income for retirement visa in Thailand
• Legalising a signature or seal

Will need to apply for this service by post.

Letter confirming pension/income for retirement Visa

Information about this service including how to apply by post can be found at www.gov.uk/notarial-and-documentary-services-guide-for-thailand

(Scroll down the document to find the relevant section)

It seems that now you are no longer permitted to go to the embassy first thing in the morning and collect it after lunch.

You now HAVE to post it and wait a few days to get it and find out if they got it right.

What on earth is the use of the embassy anymore?

[evadgib]

1. They switched to an appointment system earlier this month which was covered elsewhere on TV. Postal applications aren't affected.

2. RBL have nothing to do with pensions. I of course realize what you actually mean but you might like to enlighten the board before Borough High Street gets bombarded.

[billd766]

1. They switched to an appointment system earlier this month which was covered elsewhere on TV. Postal applications aren't affected.

2. RBL have nothing to do with pensions. I of course realize what you actually mean but you might like to enlighten the board before Borough High Street gets bombarded.

I actually meant the Royal British Legion using the initials RBL

I must have missed the post on the appointment system but it seems to me that the UK is doing less and less for the average UK citizen yet it seems to cost the country more and more.

All this of course is courtesy of the previous Labour government under the control of the blessed St Tony of B'liar.

Having said that the latest government of Big Dave and Nick Clogg have made absolutely no effort to reverse the trend.

There is no hope that Ed Rubbaband and the New new new new whatever party wil be any more use than a chocolate teapot.

Come on down Nigel, the time is right to misquote Leslie Crowther in The Price is Right game show.

[Jip99]

Still to do with UK pensions but relevant to Thailand.

I had an email from the RBL today referring to the letter of confirmation of pension details provided by the UK embassy.

WEF 23rd March 2015

From 23^rd March 2015 British nationals requiring

• Consular letter confirming pension/income for retirement visa in Thailand
• Legalising a signature or seal

Will need to apply for this service by post.

Letter confirming pension/income for retirement Visa

Information about this service including how to apply by post can be found at www.gov.uk/notarial-and-documentary-services-guide-for-thailand

(Scroll down the document to find the relevant section)

It seems that now you are no longer permitted to go to the embassy first thing in the morning and collect it after lunch.

You now HAVE to post it and wait a few days to get it and find out if they got it right.

What on earth is the use of the embassy anymore?

It is a very simple and straight forward system, and remember - most expat do not live in Bangkok.

Got my letter back in a week and the numbers were exactly as Ihad evidenced.

They did make an error with my name but a quick phone call drew an apology and a revised letter within 3 working days.

[Liquorice]

billd766, on 18 Mar 2015 - 16:44, said:

Still to do with UK pensions but relevant to Thailand.

I had an email from the RBL today referring to the letter of confirmation of pension details provided by the UK embassy.

WEF 23rd March 2015

From 23^rd March 2015 British nationals requiring

• Consular letter confirming pension/income for retirement visa in Thailand
• Legalising a signature or seal

Will need to apply for this service by post.

Letter confirming pension/income for retirement Visa

Information about this service including how to apply by post can be found at www.gov.uk/notarial-and-documentary-services-guide-for-thailand

(Scroll down the document to find the relevant section)

It seems that now you are no longer permitted to go to the embassy first thing in the morning and collect it after lunch.

You now HAVE to post it and wait a few days to get it and find out if they got it right.

What on earth is the use of the embassy anymore?

billd

Pension/Income Letters for Immigration have been available by post only from 8/4/2014.

https://www.gov.uk/government/publications/how-to-obtain-a-pensionincome-letter-for-thai-immigration

As I understand it, the previous walk in system for affidavits, legalisations, passports, has been changed to an appointments system.

[billd766]

Still to do with UK pensions but relevant to Thailand.

I had an email from the RBL today referring to the letter of confirmation of pension details provided by the UK embassy.

WEF 23rd March 2015

From 23^rd March 2015 British nationals requiring

• Consular letter confirming pension/income for retirement visa in Thailand
• Legalising a signature or seal

Will need to apply for this service by post.

Letter confirming pension/income for retirement Visa

Information about this service including how to apply by post can be found at www.gov.uk/notarial-and-documentary-services-guide-for-thailand

(Scroll down the document to find the relevant section)

It seems that now you are no longer permitted to go to the embassy first thing in the morning and collect it after lunch.

You now HAVE to post it and wait a few days to get it and find out if they got it right.

What on earth is the use of the embassy anymore?

It is a very simple and straight forward system, and remember - most expat do not live in Bangkok.

Got my letter back in a week and the numbers were exactly as Ihad evidenced.

They did make an error with my name but a quick phone call drew an apology and a revised letter within 3 working days.

We used to be able to go to the embassy to do this but now this is stopped. An appointment is now needed for other tasks and how long will it be before that is by mail only or outsourced.

I used to combine the embassy trip with a small break in BKK. I can still take my break but without going to the embassy.

For the last few annual trips I cannot remember seeing ANY British embassy staff. The front bate was manned by Thais, security done by Ghurkas, Paperwork in the office done by Thais, The Pattaya consulate closed, The Chiang Mai office (staffed by Thais) has a very restricted service, passports now done in the UK and woe betide you if you don't have a credit card, visas contracted out to an outside company. They even sold half the embassy land off for yet another shopping mall.

I ask once again, what use is the UK embassy to normal citizens of the UK?

[i claudius]

Still to do with UK pensions but relevant to Thailand.

I had an email from the RBL today referring to the letter of confirmation of pension details provided by the UK embassy.

WEF 23rd March 2015

From 23^rd March 2015 British nationals requiring

• Consular letter confirming pension/income for retirement visa in Thailand
• Legalising a signature or seal

Will need to apply for this service by post.

Letter confirming pension/income for retirement Visa

Information about this service including how to apply by post can be found at www.gov.uk/notarial-and-documentary-services-guide-for-thailand

(Scroll down the document to find the relevant section)

It seems that now you are no longer permitted to go to the embassy first thing in the morning and collect it after lunch.

You now HAVE to post it and wait a few days to get it and find out if they got it right.

What on earth is the use of the embassy anymore?

It is a very simple and straight forward system, and remember - most expat do not live in Bangkok.

Got my letter back in a week and the numbers were exactly as Ihad evidenced.

They did make an error with my name but a quick phone call drew an apology and a revised letter within 3 working days.

We used to be able to go to the embassy to do this but now this is stopped. An appointment is now needed for other tasks and how long will it be before that is by mail only or outsourced.

I used to combine the embassy trip with a small break in BKK. I can still take my break but without going to the embassy.

For the last few annual trips I cannot remember seeing ANY British embassy staff. The front bate was manned by Thais, security done by Ghurkas, Paperwork in the office done by Thais, The Pattaya consulate closed, The Chiang Mai office (staffed by Thais) has a very restricted service, passports now done in the UK and woe betide you if you don't have a credit card, visas contracted out to an outside company. They even sold half the embassy land off for yet another shopping mall.

I ask once again, what use is the UK embassy to normal citizens of the UK?

I dealt with them for 8 years when i had buisness in BKK years ago ,they were useless then ,now they are irelevant ,about as much use as a chocolate spoon.

[evadgib]

How exactly were they 'useless' re your business & what is the relevance to this board?

[i claudius]

How exactly were they 'useless' re your business & what is the relevance to this board?

First i do not wish to discuss my old buisness ,but the staff of the embassy are in my and many other expats estimation "paper shufflers third class" to see their level of competance for one thing ,i do not know if you were here during the Tsunami ,but i had friends caught up in it ,the level of incompetance was catastrophic, if you do not believe me just google it ,as to the relevance to this thread ,we as expats have to use the embassy and if they are no good at any part of their jobs ,they are of no use to us ,in fact ,paper shufflers 3rd class is a step up the ladder for some., personally i blame succesive govts for allowing 5th grade people join the not only foreign office but all walks of public service.and you my friend and i ,pay their inflated wages and pensiones ,unless you are one ,then you live here with your nice index linked pension.

Edited March 19, 2015 by i claudius

[nong38]

Still to do with UK pensions but relevant to Thailand.

I had an email from the RBL today referring to the letter of confirmation of pension details provided by the UK embassy.

WEF 23rd March 2015

From 23^rd March 2015 British nationals requiring

• Consular letter confirming pension/income for retirement visa in Thailand
• Legalising a signature or seal

Will need to apply for this service by post.

Letter confirming pension/income for retirement Visa

Information about this service including how to apply by post can be found at www.gov.uk/notarial-and-documentary-services-guide-for-thailand

(Scroll down the document to find the relevant section)

It seems that now you are no longer permitted to go to the embassy first thing in the morning and collect it after lunch.

You now HAVE to post it and wait a few days to get it and find out if they got it right.

What on earth is the use of the embassy anymore?

Bill, many Govt Dept's are the same, they dont wont to meet you face to face, they dont employ enough staff, its easier to do it unhindered by post, like the passport service, they dont have to commit to do it by tomorrow, just ASAP, when ever that may be. Its saving you, the taxpayer money! We have your best interests at heart.

[nzexpat]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Still to do with UK pensions but relevant to Thailand.

I had an email from the RBL today referring to the letter of confirmation of pension details provided by the UK embassy.

WEF 23rd March 2015

From 23^rd March 2015 British nationals requiring

• Consular letter confirming pension/income for retirement visa in Thailand
• Legalising a signature or seal

Will need to apply for this service by post.

Letter confirming pension/income for retirement Visa

Information about this service including how to apply by post can be found at www.gov.uk/notarial-and-documentary-services-guide-for-thailand

(Scroll down the document to find the relevant section)

It seems that now you are no longer permitted to go to the embassy first thing in the morning and collect it after lunch.

You now HAVE to post it and wait a few days to get it and find out if they got it right.

What on earth is the use of the embassy anymore?

Unlike you many do not live next door to the Embassy.

I, and many others have secured a Letter confirming pension/income for an extension of stay (not a visa) by mail from the BE. A fast and efficient service which very cost effective when one lives a long way outside Bangkok.

[evadgib]

How exactly were they 'useless' re your business & what is the relevance to this board?

First i do not wish to discuss my old buisness ,but the staff of the embassy are in my and many other expats estimation "paper shufflers third class" to see their level of competance for one thing ,i do not know if you were here during the Tsunami ,but i had friends caught up in it ,the level of incompetance was catastrophic, if you do not believe me just google it ,as to the relevance to this thread ,we as expats have to use the embassy and if they are no good at any part of their jobs ,they are of no use to us ,in fact ,paper shufflers 3rd class is a step up the ladder for some., personally i blame succesive govts for allowing 5th grade people join the not only foreign office but all walks of public service.and you my friend and i ,pay their inflated wages and pensiones ,unless you are one ,then you live here with your nice index linked pension.

As I thought, no relevance whatsoever to the board. Edited March 19, 2015 by evadgib