UK pensions

[jacky54]

Mine was 240 quid a year in 1981, and they would not install water meters either

[vogie]

For anyone that might have missed the State Pension will rise by 2.9% in April 2016 to £119.30, announced yesterday and upcoming next week, 25th Governments Autumn Statement, will be live on the BBC website probably from around 1130/1200 GMT.

It said on the news that it equates to about £3 a week?

[i claudius]

water bills are 1000+ a year in the south west, never believed it until two showed me their bills in Devon, bugger that.

and yet in N ireland water is free ,no water rates there

[nong38]

For all you ex forces peoples out there you might be interested to know that today is the Stategic Defence Review. George Osborne will spending the money on your behalf, seems like the Royal Navy are getting more fighters for the Carriers and the RAF are getting a replacement for Nimrod for a start. Might give you some solace for having your State Pension frozen, but probably not.

[billd766]

For all you ex forces peoples out there you might be interested to know that today is the Stategic Defence Review. George Osborne will spending the money on your behalf, seems like the Royal Navy are getting more fighters for the Carriers and the RAF are getting a replacement for Nimrod for a start. Might give you some solace for having your State Pension frozen, but probably not.

The RAF actually HAD Nimrods waiting to come into service but Big Dave and George (Scrooge) Osborne, the chancellor scrapped them and they were literally cut to pieces several years ago.

On the BBC News website today http://www.bbc.com/news/uk-34896956

quote

A Royal Navy Frigate and submarine are also thought to be involved in the search, along with Canadian and French maritime patrol aircraft.

The Telegraph reports the French plane has searched for the submarine for at least 10 days.

The RAF currently has no maritime patrol aircraft of its own.

I underlined and put in bold the last bit.

http://www.bbc.com/news/uk-england-12294766

http://www.defenseindustrydaily.com/nimrod-was-actually-a-good-hunter-upgrading-britains-fleet-updated-02442/

http://www.thisismoney.co.uk/money/markets/article-2698424/MoD-buy-American-planes-replace-axed-3bn-Nimrod.html

http://www.telegraph.co.uk/news/uknews/defence/8284935/Scrapping-the-RAFs-4bn-Nimrod-fleet-risks-UK-security.html

A long time ago I used to vote Conservative but even before this new shower of .... took over I have supported UKIP and voted for them in the last election.

Edited November 23, 2015 by billd766

[nong38]

Defence review at 1530 on BBC news channel.

[Jip99]

Jipp99 how long were you contracted out for? my forecast is a couple of quid more but over 35 years of contributions I think i was only out for about 10 years.

In all honesty I have no idea. I regret to admit that I was one who saw pensions as something that was a long way off, and I didn't take much notice.

I worked for the same employer for 31 years from 1973 and then became self employed - so I assume 1978 to 2002 ?

[fcgprg]

Jipp99 how long were you contracted out for? my forecast is a couple of quid more but over 35 years of contributions I think i was only out for about 10 years.

In all honesty I have no idea. I regret to admit that I was one who saw pensions as something that was a long way off, and I didn't take much notice.

I worked for the same employer for 31 years from 1973 and then became self employed - so I assume 1978 to 2002 ?

It should be a maximum of 35 gbp if you have been contracted out all your working life according to baroness Altman CBE the pensions minister.

On a broadcast on radio 4 last week.

Unless I have heard miss heard what she said?.

[evadgib]

Remove the frozen pension uprating discrimination

In the current financial climate I can't see this getting anywhere but I have to admire the fact that some are still trying

Edited November 24, 2015 by evadgib

[Expattaff1308]

My letter, as an example, attached.

Confirms £151.25 pw start point less the contracted out deduction of £65.79 = £85.46 enhanced by £34.41 to make a total of £119.87per week.

OAP1.jpg

OAP2.jpg

Received my estimate last week. (Not due to receive until 2018 so there may be some increases but...

Same starting point £151.25 less contracted out deduction £83.45; 40 qualifying years... so...Mine was estimated at £120.20 a week.

[Jip99]

My letter, as an example, attached.

Confirms £151.25 pw start point less the contracted out deduction of £65.79 = £85.46 enhanced by £34.41 to make a total of £119.87per week.

OAP1.jpg

OAP2.jpg

Received my estimate last week. (Not due to receive until 2018 so there may be some increases but...

Same starting point £151.25 less contracted out deduction £83.45; 40 qualifying years... so...Mine was estimated at £120.20 a week.

On the face of it, those extra 5 years appear to be worth 33p a week !

[Expattaff1308]

My letter, as an example, attached.

Confirms £151.25 pw start point less the contracted out deduction of £65.79 = £85.46 enhanced by £34.41 to make a total of £119.87per week.

OAP1.jpg

OAP2.jpg

Received my estimate last week. (Not due to receive until 2018 so there may be some increases but...

Same starting point £151.25 less contracted out deduction £83.45; 40 qualifying years... so...Mine was estimated at £120.20 a week.

On the face of it, those extra 5 years appear to be worth 33p a week !

Yep

[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.

[transam]

http://www.itv.com/news/update/2015-11-25/benefits-to-be-stopped-for-people-out-of-the-country-long-term/?ref=yfp

[evadgib]

A new pensions tax system

The current pensions tax regime works like this: you get tax relief when you pay into a pension, but pay tax on most of the pension when you receive it.

The government is considering scrapping this system entirely, replacing it with a system similar to an Individual Savings Account (Isa).

The money you pay into your Pension-Isa will come out of your taxed income. The government may then add a bonus to your savings, and when you take your pension it will be tax free.

The government will announce its decision in next year's Budget. If the change goes ahead it will be the biggest shake-up of pensions in our lifetimes.

This and a lot more here: http://www.bbc.com/news/business-34927158

Edited November 26, 2015 by evadgib

[sumrit]

It's been announced that people who's pensions are calculated under the old scheme will receive an extra £3.35 pw on the basic pension. For pensioners who either weren't contracted out or only contracted out for part of their qualifying years usually get extra serps/graduated pension payments etc dependent on the extra NI contributions they made. A friend's pension, for example, is boosted by around £30 pw in this way. Does anyone know if these pensioners get an additional rise on that part of their pension on top of the £3.35 or does that part of the pension payment remain the same and fixed for life?

[nong38]

It's been announced that people who's pensions are calculated under the old scheme will receive an extra £3.35 pw on the basic pension. For pensioners who either weren't contracted out or only contracted out for part of their qualifying years usually get extra serps/graduated pension payments etc dependent on the extra NI contributions they made. A friend's pension, for example, is boosted by around £30 pw in this way. Does anyone know if these pensioners get an additional rise on that part of their pension on top of the £3.35 or does that part of the pension payment remain the same and fixed for life?

No they do not get any extra on Serps etc. The only part that the 2.9% affects is this. If you defer your pension for say a year you will get your pension increased by, currently 10.4%, that extra 10.4% does attract the increase so in this case the increase would have been £3.35 + 30p.

[Ricardo]

"Anyone who is out of Britain for more than a month will lose their pension credit, it was revealed in the Autumn Statement, in bad news for those who spend part of the year abroad.

The cut-off point for losing the means-tested pension credit will be reduced from 13 weeks spent overseas to just four from next April, Chancellor George Osborne announced on Wednesday."

http://www.telegraph.co.uk/finance/personalfinance/expat-money/12020482/Autumn-Statement-hard-up-Brits-spending-time-abroad-could-lose-benefits.html?WT.mc_id=e_DM66434&WT.tsrc=email&etype=Edi_Exp_New&utm_source=email&utm_medium=Edi_Exp_New_2015_11_27&utm_campaign=DM66434

There must be many thousands of elderly British citizens, who head South to Spain for part of the winter, for more than four weeks ?

Why doesn't the UK-government just follow the example, of the former communist states in Eastern-Europe, and lock everyone into the UK, and throw away the key ?

[jpinx]

"Anyone who is out of Britain for more than a month will lose their pension credit, it was revealed in the Autumn Statement, in bad news for those who spend part of the year abroad.

The cut-off point for losing the means-tested pension credit will be reduced from 13 weeks spent overseas to just four from next April, Chancellor George Osborne announced on Wednesday."

http://www.telegraph.co.uk/finance/personalfinance/expat-money/12020482/Autumn-Statement-hard-up-Brits-spending-time-abroad-could-lose-benefits.html?WT.mc_id=e_DM66434&WT.tsrc=email&etype=Edi_Exp_New&utm_source=email&utm_medium=Edi_Exp_New_2015_11_27&utm_campaign=DM66434

There must be many thousands of elderly British citizens, who head South to Spain for part of the winter, for more than four weeks ?

Why doesn't the UK-government just follow the example, of the former communist states in Eastern-Europe, and lock everyone into the UK, and throw away the key ?

That is pension credits, not the basic pension. Anyone on pension credits is unlikely to be able to afford to go anywhere anyway, but it is still a crass move by the politicians.

[chiang mai]

I was wondering when the small print of the autumn statement would surface, I wonder what else is in there that we haven't seen yet.

[sandyf]

"Anyone who is out of Britain for more than a month will lose their pension credit, it was revealed in the Autumn Statement, in bad news for those who spend part of the year abroad.

The cut-off point for losing the means-tested pension credit will be reduced from 13 weeks spent overseas to just four from next April, Chancellor George Osborne announced on Wednesday."

http://www.telegraph.co.uk/finance/personalfinance/expat-money/12020482/Autumn-Statement-hard-up-Brits-spending-time-abroad-could-lose-benefits.html?WT.mc_id=e_DM66434&WT.tsrc=email&etype=Edi_Exp_New&utm_source=email&utm_medium=Edi_Exp_New_2015_11_27&utm_campaign=DM66434

There must be many thousands of elderly British citizens, who head South to Spain for part of the winter, for more than four weeks ?

Why doesn't the UK-government just follow the example, of the former communist states in Eastern-Europe, and lock everyone into the UK, and throw away the key ?

That is pension credits, not the basic pension. Anyone on pension credits is unlikely to be able to afford to go anywhere anyway, but it is still a crass move by the politicians.

I wonder what else they have trimmed in the background.

About 6 years ago I went back to the UK to sell my house and went on pension credit. The day it was sold I rung them up as I was no longer eligible and was about to fly back to Thailand. The guy noted what I said and that they would take the date of sale as the effective date that I ceased to be eligible for benefit. He then shook me a bit when he said that payments would continue for a further six months.

It is something that I wasn't aware of and I doubt if many are, could very easily be reduced or removed without attracting a great deal of attention.

[Ricardo]

"Anyone who is out of Britain for more than a month will lose their pension credit, it was revealed in the Autumn Statement, in bad news for those who spend part of the year abroad.

The cut-off point for losing the means-tested pension credit will be reduced from 13 weeks spent overseas to just four from next April, Chancellor George Osborne announced on Wednesday."

http://www.telegraph.co.uk/finance/personalfinance/expat-money/12020482/Autumn-Statement-hard-up-Brits-spending-time-abroad-could-lose-benefits.html?WT.mc_id=e_DM66434&WT.tsrc=email&etype=Edi_Exp_New&utm_source=email&utm_medium=Edi_Exp_New_2015_11_27&utm_campaign=DM66434

There must be many thousands of elderly British citizens, who head South to Spain for part of the winter, for more than four weeks ?

Why doesn't the UK-government just follow the example, of the former communist states in Eastern-Europe, and lock everyone into the UK, and throw away the key ?

That is pension credits, not the basic pension. Anyone on pension credits is unlikely to be able to afford to go anywhere anyway, but it is still a crass move by the politicians.

"That is pension credits, not the basic pension"

Yes thanks, I understand the difference, which is why I posted the details.

Pension-credits is part of what I might have been getting, had I not chosen to retire early and come to live here off my savings, up-to-me and no problem with that.

Until the point that the government, more than a decade after I made the decision to leave, decide to unilaterally raise the starting-age for the pension. What am I expected to do, if my savings wouldn't stretch for the extra year, go back to live in the UK, in order to claim welfare for the extra period ?

Our freedom-of-choice and freedom-of-movement is being steadily eroded, by these niggling cut-backs & reductions, they appear to want us to be good quiet little serfs, and remain dependent of 'the system'. I prefer to exercise my freedom to vote (for tropical sunshine) with my feet !

I remember the days when you could buy a small row-house in the South of Spain for about GBP10k, and many chose to, they would visit their UK-based friends in the summer and in the winter their friends would go down for an extended-stay in-the-warmer-climes. The cost of a bus-fare to Spain (pre LCC airfares) , and living simply with 'free' accomodation while there, was certainly affordable if it dodged expensive heating-costs.

A local bus-company also used to offer 2-3 month trips, B&B in a cheap (and otherwise empty) hotel, and they'd even throw-in a Christmas-Day buffet/party !

But now the freedom to do this sort of thing is being removed/cut-back, for pre-retirement pension-credit claimants.

I also suspect that quite a few long-stay low-budget winter-visitors to Thailand may be affected by this change, which is why I thought it worth posting.

Edited November 29, 2015 by Ricardo

[nong38]

"Anyone who is out of Britain for more than a month will lose their pension credit, it was revealed in the Autumn Statement, in bad news for those who spend part of the year abroad.

The cut-off point for losing the means-tested pension credit will be reduced from 13 weeks spent overseas to just four from next April, Chancellor George Osborne announced on Wednesday."

http://www.telegraph.co.uk/finance/personalfinance/expat-money/12020482/Autumn-Statement-hard-up-Brits-spending-time-abroad-could-lose-benefits.html?WT.mc_id=e_DM66434&WT.tsrc=email&etype=Edi_Exp_New&utm_source=email&utm_medium=Edi_Exp_New_2015_11_27&utm_campaign=DM66434

There must be many thousands of elderly British citizens, who head South to Spain for part of the winter, for more than four weeks ?

Why doesn't the UK-government just follow the example, of the former communist states in Eastern-Europe, and lock everyone into the UK, and throw away the key ?

That is pension credits, not the basic pension. Anyone on pension credits is unlikely to be able to afford to go anywhere anyway, but it is still a crass move by the politicians.

"That is pension credits, not the basic pension"

Yes thanks, I understand the difference, which is why I posted the details.

Pension-credits is part of what I might have been getting, had I not chosen to retire early and come to live here off my savings, up-to-me and no problem with that.

Until the point that the government, more than a decade after I made the decision to leave, decide to unilaterally raise the starting-age for the pension. What am I expected to do, if my savings wouldn't stretch for the extra year, go back to live in the UK, in order to claim welfare for the extra period ?

Our freedom-of-choice and freedom-of-movement is being steadily eroded, by these niggling cut-backs & reductions, they appear to want us to be good quiet little serfs, and remain dependent of 'the system'. I prefer to exercise my freedom to vote with my feet !

I remember the days when you could buy a small row-house in the South of Spain for about GBP10k, and many chose to, they would visit their UK-based friends in the summer and in the winter their friends would go down for an extended-stay in-the-warmer-climes. But now this freedom is being removed.

I also suspect that quite a few long-stay low-budget winter-visitors to Thailand may be affected by this change, which is why I thought it worth posting.

It is a very mean decision by HMG, particularly as they are about tp spend £16B on foreign aid, where did that come from George thought you wanted to balance the books?

If I were on pension credits/housing benefit what would I do keep my overseas holiday stum and go, how would they know? I might just be staying with relatives around the UK, a month here, 3 weeks there, Christmas with brother etc. How do they think they are going to check up on how many pensioners? Then some are dying and more are arriving. A stupid idea that was sold to a stupid man to tell us about it.

[jpinx]

"Anyone who is out of Britain for more than a month will lose their pension credit, it was revealed in the Autumn Statement, in bad news for those who spend part of the year abroad.

The cut-off point for losing the means-tested pension credit will be reduced from 13 weeks spent overseas to just four from next April, Chancellor George Osborne announced on Wednesday."

http://www.telegraph.co.uk/finance/personalfinance/expat-money/12020482/Autumn-Statement-hard-up-Brits-spending-time-abroad-could-lose-benefits.html?WT.mc_id=e_DM66434&WT.tsrc=email&etype=Edi_Exp_New&utm_source=email&utm_medium=Edi_Exp_New_2015_11_27&utm_campaign=DM66434

There must be many thousands of elderly British citizens, who head South to Spain for part of the winter, for more than four weeks ?

Why doesn't the UK-government just follow the example, of the former communist states in Eastern-Europe, and lock everyone into the UK, and throw away the key ?

That is pension credits, not the basic pension. Anyone on pension credits is unlikely to be able to afford to go anywhere anyway, but it is still a crass move by the politicians.

"That is pension credits, not the basic pension"

Yes thanks, I understand the difference, which is why I posted the details.

Pension-credits is part of what I might have been getting, had I not chosen to retire early and come to live here off my savings, up-to-me and no problem with that.

Until the point that the government, more than a decade after I made the decision to leave, decide to unilaterally raise the starting-age for the pension. What am I expected to do, if my savings wouldn't stretch for the extra year, go back to live in the UK, in order to claim welfare for the extra period ?

Our freedom-of-choice and freedom-of-movement is being steadily eroded, by these niggling cut-backs & reductions, they appear to want us to be good quiet little serfs, and remain dependent of 'the system'. I prefer to exercise my freedom to vote (for tropical sunshine) with my feet !

I remember the days when you could buy a small row-house in the South of Spain for about GBP10k, and many chose to, they would visit their UK-based friends in the summer and in the winter their friends would go down for an extended-stay in-the-warmer-climes. The cost of a bus-fare to Spain (pre LCC airfares) , and living simply with 'free' accomodation while there, was certainly affordable if it dodged expensive heating-costs.

A local bus-company also used to offer 2-3 month trips, B&B in a cheap (and otherwise empty) hotel, and they'd even throw-in a Christmas-Day buffet/party !

But now the freedom to do this sort of thing is being removed/cut-back, for pre-retirement pension-credit claimants.

I also suspect that quite a few long-stay low-budget winter-visitors to Thailand may be affected by this change, which is why I thought it worth posting.

It is absolutely true that they create rules, close loopholes and restrict freedoms in any way possible to save a tiny %age of the budget. It gives the tiny-minded not-so-civil servants something to exercise their collective OCD on. The politicians in charge could easily restrict these activities to a target saving of not less than 5% of budget, or similar, and close down the many offices that will no longer be needed, thereby saving the country far more in unnecessary employment costs and office space, and at the same time enhance the image of government in everyone's eyes. This is a clear demonstration that the people who actually control the country are not the politicians, it is the grey-faced non-entities who parade into their grey buildings to sit at grey desks every day and try to achieve some tiny saving to justify their grey existence.

OK - Sunday morning rant over ! Thanks for bringing it up and provoking the conversation

[Expattaff1308]

The International Consortium of British Pensioners (ICBP)

Coverage in the Sunday Times, following the trip to the UK by Sheila Telford and John Markham.

http://http://www.britishpe...Nov-29-2015.jpg

Progress...maybe

Edited November 30, 2015 by Expattaff1308

[JB300]

URL seems to be broken taff...

Try this one http://www.britishpensions.com/wp-content/uploads/2015/11/Sunday-times-Nov-29-2015.jpg

[Expattaff1308]

URL seems to be broken taff...

Try this one http://www.britishpensions.com/wp-content/uploads/2015/11/Sunday-times-Nov-29-2015.jpg

Thanks JB, still not working on mine...Mods?????

[JB300]

For anybody else having problems accessing the link...

[JetsetBkk]

Don't get too excited.

[transam]

Amazing that the UK sends zillions of quid of our money abroad to folk who paid zilch into the UK coffers yet those who DID cannot get pension cash updates when they retired in perhaps one of the countries that gets UK handouts.