UK pensions

[sumrit]

Don't know what you have to do. I'm already receiving my pension. I just saw the link and info so posted the link so others might be able to check their pension more quickly and conveniently on line.

[dabhand]

Apparently everybody can now go to this Government website to get a State Pension forecast on line, regardless of their age.

Previously the information was only available to people over 50 and had to be applied for by post/phone.

https://www.tax.service.gov.uk/checkmystatepension

Saw this in a recent Daily Mail article and gave it a try earlier this morning.

Input all the required info and received the activation code and sat back waiting for my pension forecast. Then this message:

'You are unable to use this service

The digital service is currently unable to calculate your UK State Pension forecast as you've lived or worked abroad.'

I have less than two years until retirement age and sent off a forecast request a few weeks back, just waiting for the response. Last notification was that I had 36 years of contributions. majority of them class 3 as I have been working abroad since 1979. Stopped paying about 6 years back as I saw no reason to pay any more, so will be interesting to see what the forecast shows.

Had hoped that this online forecast could have given me an advance indication but, as usual, the overseas contingent continue to be treated like mushrooms.

[Guest jonzboy]

'You are unable to use this service

The digital service is currently unable to calculate your UK State Pension forecast as you've lived or worked abroad.'

I have less than two years until retirement age and sent off a forecast request a few weeks back, just waiting for the response. Last notification was that I had 36 years of contributions. majority of them class 3 as I have been working abroad since 1979. Stopped paying about 6 years back as I saw no reason to pay any more, so will be interesting to see what the forecast shows.

Had hoped that this online forecast could have given me an advance indication but, as usual, the overseas contingent continue to be treated like mushrooms.

Strange, your circumstances mirror my own, and yet I was able to access my full NIC record and pension forecast using the online function the other day. It's only a "beta" site so is a work in progress. For example, it is only accessible by UK passport holders only. No passport, no access. Overseas passport same same. I hope in future they can migrate the whole show to the Government Gateway.

[Eclipse]

[evadgib]

Mine failed on Thai mobile. I'll bring a UK sim back from UK shortly and will try again. Keeping the sim live might have other advantages too.

[Liquorice]

screenshot_273.jpg

I'm guessing it will be out of service until after 6th, until it's updated with the new Pension Scheme starting this month.

Some will only qualify for the older State Pension, but many like myself could be paid the new or old method, subject to which is the greater payment I would finally receive under each scheme.

[Eclipse]

screenshot_273.jpg

I'm guessing it will be out of service until after 6th, until it's updated with the new Pension Scheme starting this month.

Some will only qualify for the older State Pension, but many like myself could be paid the new or old method, subject to which is the greater payment I would finally receive under each scheme.

Not many are going to receive as much as they they think they will.

As few as 13% retiring this year will receive the flat rate £155 according to press articles.

[Expattaff1308]

The International Consortium of British Pensioners (ICBP)

New coverage from the ethnic newspaper The Voice

http://www.voice-online.co.uk/article/african-and-caribbean-pensioners-hope-fair-pensions-deal

[shunter]

Expattaff1308 post # 1996.

The International Consortium of British Pensioners (ICBP)

New coverage from the ethnic newspaper The Voice

http://www.voice-online.co.uk/article/african-and-caribbean-pensioners-hope-fair-pensions-deal

A great link but note the areas that it suggests may benefit from any possible change to the rules.

A very subtle or perhaps not so subtle form of financial and possibly ethic discrimination perhaps?

It will affect pensioners who worked in the UK but now live in countries such as Zimbabwe, the Bahamas, Trinidad and Tobago and St Lucia.

Edited April 4, 2016 by shunter

[i claudius]

So if you are white British ,you still do not count?

[SgtRock]

Expattaff1308 post # 1996.

The International Consortium of British Pensioners (ICBP)

New coverage from the ethnic newspaper The Voice

http://www.voice-online.co.uk/article/african-and-caribbean-pensioners-hope-fair-pensions-deal

A great link but note the areas that it suggests may benefit from any possible change to the rules.

A very subtle or perhaps not so subtle form of financial and possibly ethic discrimination perhaps?

It will affect pensioners who worked in the UK but now live in countries such as Zimbabwe, the Bahamas, Trinidad and Tobago and St Lucia.

Playing the race card is probably the quickest way to get this issue resolved.

[sandyf]

screenshot_273.jpg

I'm guessing it will be out of service until after 6th, until it's updated with the new Pension Scheme starting this month.

Some will only qualify for the older State Pension, but many like myself could be paid the new or old method, subject to which is the greater payment I would finally receive under each scheme.

Not many are going to receive as much as they they think they will.

As few as 13% retiring this year will receive the flat rate £155 according to press articles.

The majority of those not receiving the full flat rate will have additional pension from a separate source.

Many that are approaching retirement age will have contracted out and paid reduced NI contributions. The part of their NI that they did not pay the government will have been paid into a private scheme, and many will see the benefit of that before they reach the state pension age. Most will see the combined figure above the £155 level.

The big problem will be those that do not understand what they have done and could be entitled to a private scheme that they are not aware of. It was all very foggy back in the days when opting out became an option.

[Eclipse]

The big problem will be those that do not understand what they have done and could be entitled to a private scheme that they are not aware of. It was all very foggy back in the days when opting out became an option.

Yes.

I did not even know I had opted out until I got my Pension Forecast a few months ago.

I vaguely remember signing a bit of paper many years ago and getting a free L&G umbrella.

It must have been that.

Things were very vague back then and not a lot was really explained.

Edited April 4, 2016 by Eclipse

[Harry2]

The big problem will be those that do not understand what they have done and could be entitled to a private scheme that they are not aware of. It was all very foggy back in the days when opting out became an option.

Yes.

I did not even know I had opted out until I got my Pension Forecast a few months ago.

I vaguely remember signing a bit of paper many years ago and getting a free L&G umbrella.

It must have been that.

Things were very vague back then and not a lot was really explained.

Things were extremely vague back then & any pro's & con's of opting out were never discussed. If this had happened in the private sector they would have been demands for a mis-selling inquiry & possible compensation for our losses or a reversal of the policy causing them.

Right up until the new state pension was announced they have never before differentiated between acknowledging a years NI payment based on whether it was an opted-in or opted-out year, this is an entirely new concept & solely designed to cut the numbers of pensioners able to claim a full state pension.

[billd766]

I found this on another website last night and I asked the poster if he minded me copying and pasting it. He said it was OK by him.

The title of the thread was "Thieves, the lot of them."

I thoroughly agree with the content though others may not.

Medical science is helping mankind live longer but it seems that we should feel guilty for being a drain on society

for taking our pension that we've paid for.

Just to cheer you up......how did a pension we all paid into suddenly become a benefit ?????

Worth some thought - where did all the money go????

IT MAKES YOU THINK !

PLEASE PASS THIS AROUND, UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT...

THIS IS SURELY SOMETHING WE ALL NEED TO THINK ABOUT !!!!

THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE PENSION IS THAT THEY FORGOT TO FIGURE IN ALL THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED OLD AGE PENSION.

WHERE DID ALL THAT MONEY GO ?

Remember, not only did you and I contribute to our Pension, our employer did, too.
It totalled 15% of your income before taxes.

If you averaged only £15,000 over your working life, that's close to £220,500.

Read that again!

Did you see anywhere that the Government paid in one single penny ?

We are talking about the money you and your employer put in a Government bank to
ensure that you and I would have a retirement pension from the money we put in

, it was not money that the Government had any right to spend elsewhere.

Now they've started to call the money we paid in an 'entitlement' when we reach the age to take it back.

If you calculate the future invested value of £2500 per year (yours & your employer's contribution) at a simple 5% interest (that's less than what the government pays on the money that it borrows from overseas), after 49 years of working you'd have £892,919.98.

If you took out only 3% per year, you'd receive £26,787.60 per year and it would last
better than 30 years (that means until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit!

If you bought an annuity with the money and it paid 4% per year, you'd have a
lifetime income of £1976.40 per month.

THE CROOKS IN GOVERNMENT HAVE PULLED OFF A BIGGER ROBBERY
THAN THE GREAT TRAIN ROBBERS EVER DID.

[sandyf]

I found this on another website last night and I asked the poster if he minded me copying and pasting it. He said it was OK by him.

The title of the thread was "Thieves, the lot of them."

I thoroughly agree with the content though others may not.

Medical science is helping mankind live longer but it seems that we should feel guilty for being a drain on society

for taking our pension that we've paid for.

Just to cheer you up......how did a pension we all paid into suddenly become a benefit ?????

Worth some thought - where did all the money go????

IT MAKES YOU THINK !

PLEASE PASS THIS AROUND, UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT...

THIS IS SURELY SOMETHING WE ALL NEED TO THINK ABOUT !!!!

THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE PENSION IS THAT THEY FORGOT TO FIGURE IN ALL THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED OLD AGE PENSION.

WHERE DID ALL THAT MONEY GO ?

Remember, not only did you and I contribute to our Pension, our employer did, too.

It totalled 15% of your income before taxes.

If you averaged only £15,000 over your working life, that's close to £220,500.

Read that again!

Did you see anywhere that the Government paid in one single penny ?

We are talking about the money you and your employer put in a Government bank to

ensure that you and I would have a retirement pension from the money we put in

, it was not money that the Government had any right to spend elsewhere.

Now they've started to call the money we paid in an 'entitlement' when we reach the age to take it back.

If you calculate the future invested value of £2500 per year (yours & your employer's contribution) at a simple 5% interest (that's less than what the government pays on the money that it borrows from overseas), after 49 years of working you'd have £892,919.98.

If you took out only 3% per year, you'd receive £26,787.60 per year and it would last

better than 30 years (that means until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit!

If you bought an annuity with the money and it paid 4% per year, you'd have a

lifetime income of £1976.40 per month.

THE CROOKS IN GOVERNMENT HAVE PULLED OFF A BIGGER ROBBERY

THAN THE GREAT TRAIN ROBBERS EVER DID.

Although I support the sentiment, the facts of the matter are something else.

We never actually paid anything in, our contributions were immediately paid out in pensions to our parents. In any particular year any shortfall was made up from general taxation. We are now dependent on the current working population making contributions to pay our pensions. An annual shortfall has now been established, last year, 12.5 percent of personal income tax went to fund state pensions. With a dwindling workforce the burden on taxation can only increase and become a real headache in the future.

The real problem is that when we started out, there was no information and what little there was implied a completely different scenario. To a certain extent we were all conned into believing that we were actually contributing towards our own pension.

Had things been clearer, although it may have been difficult, many may have taken steps to help improve the pension position. Had I known the truth when opting out became available I am fairly certain I would have taken it up.

The government really need to step up and accept the fact that they have failed a large percentage of the population in this matter.

[sandyf]

The big problem will be those that do not understand what they have done and could be entitled to a private scheme that they are not aware of. It was all very foggy back in the days when opting out became an option.

Yes.

I did not even know I had opted out until I got my Pension Forecast a few months ago.

I vaguely remember signing a bit of paper many years ago and getting a free L&G umbrella.

It must have been that.

Things were very vague back then and not a lot was really explained.

Things were extremely vague back then & any pro's & con's of opting out were never discussed. If this had happened in the private sector they would have been demands for a mis-selling inquiry & possible compensation for our losses or a reversal of the policy causing them.

If this had happened in the private sector, the company directors would have been entertained by Her Majesty.

[johnatong]

I found this on another website last night and I asked the poster if he minded me copying and pasting it. He said it was OK by him.

The title of the thread was "Thieves, the lot of them."

I thoroughly agree with the content though others may not.

Medical science is helping mankind live longer but it seems that we should feel guilty for being a drain on society

for taking our pension that we've paid for.

Just to cheer you up......how did a pension we all paid into suddenly become a benefit ?????

Worth some thought - where did all the money go????

IT MAKES YOU THINK !

PLEASE PASS THIS AROUND, UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT...

THIS IS SURELY SOMETHING WE ALL NEED TO THINK ABOUT !!!!

THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE PENSION IS THAT THEY FORGOT TO FIGURE IN ALL THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED OLD AGE PENSION.

WHERE DID ALL THAT MONEY GO ?

Remember, not only did you and I contribute to our Pension, our employer did, too.

It totalled 15% of your income before taxes.

If you averaged only £15,000 over your working life, that's close to £220,500.

Read that again!

Did you see anywhere that the Government paid in one single penny ?

We are talking about the money you and your employer put in a Government bank to

ensure that you and I would have a retirement pension from the money we put in

, it was not money that the Government had any right to spend elsewhere.

Now they've started to call the money we paid in an 'entitlement' when we reach the age to take it back.

If you calculate the future invested value of £2500 per year (yours & your employer's contribution) at a simple 5% interest (that's less than what the government pays on the money that it borrows from overseas), after 49 years of working you'd have £892,919.98.

If you took out only 3% per year, you'd receive £26,787.60 per year and it would last

better than 30 years (that means until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit!

If you bought an annuity with the money and it paid 4% per year, you'd have a

lifetime income of £1976.40 per month.

THE CROOKS IN GOVERNMENT HAVE PULLED OFF A BIGGER ROBBERY

THAN THE GREAT TRAIN ROBBERS EVER DID.

Although I support the sentiment, the facts of the matter are something else.

We never actually paid anything in, our contributions were immediately paid out in pensions to our parents. In any particular year any shortfall was made up from general taxation. We are now dependent on the current working population making contributions to pay our pensions. An annual shortfall has now been established, last year, 12.5 percent of personal income tax went to fund state pensions. With a dwindling workforce the burden on taxation can only increase and become a real headache in the future.

The real problem is that when we started out, there was no information and what little there was implied a completely different scenario. To a certain extent we were all conned into believing that we were actually contributing towards our own pension.

Had things been clearer, although it may have been difficult, many may have taken steps to help improve the pension position. Had I known the truth when opting out became available I am fairly certain I would have taken it up.

The government really need to step up and accept the fact that they have failed a large percentage of the population in this matter.

The UK's welfare system dates back to the early 1900's ! State pensions were first awarded in 1908 !

No single "government" is to 'blame' for the problems being experienced today.

In the year 2014/15, state pensions were overwhelmingly the largest governmental expense, costing £86.5 billion !

[BritManToo]

Not many are going to receive as much as they they think they will.

As few as 13% retiring this year will receive the flat rate £155 according to press articles.

Nearly everyone with 35 years past NI payments will get between 110-120gbp/week.

The 155gbp is only for a very few.

[BritManToo]

In the year 2014/15, state pensions were overwhelmingly the largest governmental expense, costing £86.5 billion !

Military budget and Foreign Aid, what to they add up to?

[nontabury]

Not many are going to receive as much as they they think they will.

As few as 13% retiring this year will receive the flat rate £155 according to press articles.

Nearly everyone with 35 years past NI payments will get between 110-120gbp/week.

The 155gbp is only for a very few.

Except for those already in receipt of a state pension living in certain countries.

[Expattaff1308]

In the year 2014/15, state pensions were overwhelmingly the largest governmental expense, costing £86.5 billion !

Military budget and Foreign Aid, what to they add up to?

Overspend of 172m paid out in foreign aid...http://www.dailymail.co.uk/news/foreignaid/article-3520835/172million-OVERSPENT-Foreign-Aid-year-mistake-sneaked-Government-Friday-s-Port-Talbot-steel-plant-alive-six-months.html

[Rajab Al Zarahni]

In the year 2014/15, state pensions were overwhelmingly the largest governmental expense, costing £86.5 billion !

Military budget and Foreign Aid, what to they add up to?

Overspend of 172m paid out in foreign aid...http://www.dailymail.co.uk/news/foreignaid/article-3520835/172million-OVERSPENT-Foreign-Aid-year-mistake-sneaked-Government-Friday-s-Port-Talbot-steel-plant-alive-six-months.html

I wonder why its not possible to just give all the frozen pensioners an increase and call it an overspend ! Given that an overspend is not something that was intended, it wouldn't even need any legislative action.

[nong38]

In the year 2014/15, state pensions were overwhelmingly the largest governmental expense, costing £86.5 billion !

Military budget and Foreign Aid, what to they add up to?

Overspend of 172m paid out in foreign aid...http://www.dailymail.co.uk/news/foreignaid/article-3520835/172million-OVERSPENT-Foreign-Aid-year-mistake-sneaked-Government-Friday-s-Port-Talbot-steel-plant-alive-six-months.html

I wonder why its not possible to just give all the frozen pensioners an increase and call it an overspend ! Given that an overspend is not something that was intended, it wouldn't even need any legislative action.

You mean just like the Foreign Aid Budget!

[GuestHouse]

I found this on another website last night and I asked the poster if he minded me copying and pasting it. He said it was OK by him.

The title of the thread was "Thieves, the lot of them."

I thoroughly agree with the content though others may not.

Medical science is helping mankind live longer but it seems that we should feel guilty for being a drain on society

for taking our pension that we've paid for.

Just to cheer you up......how did a pension we all paid into suddenly become a benefit ?????

Worth some thought - where did all the money go????

IT MAKES YOU THINK !

PLEASE PASS THIS AROUND, UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT...

THIS IS SURELY SOMETHING WE ALL NEED TO THINK ABOUT !!!!

THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE PENSION IS THAT THEY FORGOT TO FIGURE IN ALL THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED OLD AGE PENSION.

WHERE DID ALL THAT MONEY GO ?

Remember, not only did you and I contribute to our Pension, our employer did, too.

It totalled 15% of your income before taxes.

If you averaged only £15,000 over your working life, that's close to £220,500.

Read that again!

Did you see anywhere that the Government paid in one single penny ?

We are talking about the money you and your employer put in a Government bank to

ensure that you and I would have a retirement pension from the money we put in

, it was not money that the Government had any right to spend elsewhere.

Now they've started to call the money we paid in an 'entitlement' when we reach the age to take it back.

If you calculate the future invested value of £2500 per year (yours & your employer's contribution) at a simple 5% interest (that's less than what the government pays on the money that it borrows from overseas), after 49 years of working you'd have £892,919.98.

If you took out only 3% per year, you'd receive £26,787.60 per year and it would last

better than 30 years (that means until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit!

If you bought an annuity with the money and it paid 4% per year, you'd have a

lifetime income of £1976.40 per month.

THE CROOKS IN GOVERNMENT HAVE PULLED OFF A BIGGER ROBBERY

THAN THE GREAT TRAIN ROBBERS EVER DID.

The argument in the above misses the point that the National Insurance we pay provides us with a pension, it provides us with welfare benefits and it provides us and our children with free at the point of need health services (from arguably the best health service in the world).

Try buying a pension, income protection insurance and a fully comprehensive health insurance for you and your children on the open market and see what it would cost you.

[johnatong]

I found this on another website last night and I asked the poster if he minded me copying and pasting it. He said it was OK by him.

The title of the thread was "Thieves, the lot of them."

I thoroughly agree with the content though others may not.

Medical science is helping mankind live longer but it seems that we should feel guilty for being a drain on society

for taking our pension that we've paid for.

Just to cheer you up......how did a pension we all paid into suddenly become a benefit ?????

Worth some thought - where did all the money go????

IT MAKES YOU THINK !

PLEASE PASS THIS AROUND, UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT...

THIS IS SURELY SOMETHING WE ALL NEED TO THINK ABOUT !!!!

THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE PENSION IS THAT THEY FORGOT TO FIGURE IN ALL THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED OLD AGE PENSION.

WHERE DID ALL THAT MONEY GO ?

Remember, not only did you and I contribute to our Pension, our employer did, too.

It totalled 15% of your income before taxes.

If you averaged only £15,000 over your working life, that's close to £220,500.

Read that again!

Did you see anywhere that the Government paid in one single penny ?

We are talking about the money you and your employer put in a Government bank to

ensure that you and I would have a retirement pension from the money we put in

, it was not money that the Government had any right to spend elsewhere.

Now they've started to call the money we paid in an 'entitlement' when we reach the age to take it back.

If you calculate the future invested value of £2500 per year (yours & your employer's contribution) at a simple 5% interest (that's less than what the government pays on the money that it borrows from overseas), after 49 years of working you'd have £892,919.98.

If you took out only 3% per year, you'd receive £26,787.60 per year and it would last

better than 30 years (that means until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit!

If you bought an annuity with the money and it paid 4% per year, you'd have a

lifetime income of £1976.40 per month.

THE CROOKS IN GOVERNMENT HAVE PULLED OFF A BIGGER ROBBERY

THAN THE GREAT TRAIN ROBBERS EVER DID.

The argument in the above misses the point that the National Insurance we pay provides us with a pension, it provides us with welfare benefits and it provides us and our children with free at the point of need health services (from arguably the best health service in the world).

Try buying a pension, income protection insurance and a fully comprehensive health insurance for you and your children on the open market and see what it would cost you.

Best you check on what NI provides !

https://www.gov.uk/national-insurance/what-national-insurance-is-for

[uptheos]

How long do you need to be out of the country, before they consider your pension should be frozen?

[johnatong]

How long do you need to be out of the country, before they consider your pension should be frozen?

It is "frozen" from the time one leaves the UK to live in a country where increases are not paid.

Some people run the risk of not informing the DWP of their departure.

[uptheos]

How long do you need to be out of the country, before they consider your pension should be frozen?

It is "frozen" from the time one leaves the UK to live in a country where increases are not paid.

Some people run the risk of not informing the DWP of their departure.

What about if you go travelling for a year, that's not 'living' is it?

[johnatong]

How long do you need to be out of the country, before they consider your pension should be frozen?

It is "frozen" from the time one leaves the UK to live in a country where increases are not paid.

Some people run the risk of not informing the DWP of their departure.

What about if you go travelling for a year, that's not 'living' is it?

One would need to check with the DWP