UK pensions

[sandyf]

Pensions are not a benefit

No, they are an entitlement.

Its a play on words.

"An entitlement is the right to a particular privilege or benefit, granted by law or custom."

It could be said that at state retirement age that you are, subject to certain criteria, entitled to a pension. That would make the pension the benefit that you are entitled to.

At the end of the day words mean little, the whole thing was effectively legalised fraud.

[NoshowJones]

I'm surprised it had to go to court, I was due an airfare refund from a travel agent in Pattaya when Eva refused to let me fly back to Thailand.

Yes, I have a personal address from the company I use.

Last year I took BA and their ticket agent to court over an airfare refund, couldn't have done it without a UK address.

I had to pay a single flight back to Thailand with Thai Airways, I was promised a full refund within 6 weeks and I got it.

They paid it into my Thai bank account.

I had a re entry permit, it was a mistake by the travel agency I bought the flight from.

why did they refuse you, no onward flight?

That would apply if possum was on a visa exempt entry or a tourist visa, but not if he had a non O visa, or a business visa etc. I was almost refused a flight when travelling on a different passport to the one my visa was in ( dual nationality ), but it got worked out.

[Rajab Al Zarahni]

State pension is not part of the welfare budget, you can see from your income tax analysis that it is a separate entity.

It depends which government agency you consult.

The ONS lump pensions and benefits together under the Welfare Budget term.

http://visual.ons.gov.uk/welfare-spending/

Edited May 25, 2016 by theoldgit
Unnecessarily long follow on quote removed.

[sandyf]

It depends which government agency you consult.

The ONS lump pensions and benefits together under the Welfare Budget term.

The breakdown is from the Inland Revenue, the only agency that deals with income tax. Edited May 25, 2016 by theoldgit
Unnecessarily long follow on quote removed.

[theoldgit]

Can I remind members of this section in the Forum Rules.

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 Please do not quote multiple nested quotes.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

As I've mentioned before I get numerous complaints regarding the habit of some posters to constantly include unnecessary nested follow on quotes in their replies, it makes the thread difficult to follow.

I've snipped some, and will do some more later.

[thaibeachlovers]

Can I remind members of this section in the Forum Rules.

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

As I've mentioned before I get numerous complaints regarding the habit of some posters to constantly include unnecessary nested follow on quotes in their replies, it makes the thread difficult to follow.

I've snipped some, and will do some more later.

I've always considered deleting most nested quotes as "modifying" the quote, and I understand that you can't do that. However, if you are saying it is OK, I will do so in future.

[theoldgit]

I've always considered deleting most nested quotes as "modifying" the quote, and I understand that you can't do that. However, if you are saying it is OK, I will do so in future.

The Forum Rules do allow for quotes to be edited, as long as the meaning isn't altered.

16) You will not make changes to quoted material from other members posts, except for purposes of shortening the quoted post. This cannot be done in such a manner that it alters the context of the original post.

The biggest problem the practice of some members, thankfully a small minority, who include multiple quotes, and the same quotes are repeated time after time. It's this that generates the most complaints.

[Liquorice]

With the new Pension scheme in place from April 2016, I requested a new forecast for my Pension due 2018.

My Pension breakdown is now thus;

44 qualifying years.

Pension plus SP2 total £183.14 per week.

Less 8 years COPE (Contracted out Pension Equivalent) @ £4.70 per week for each year.

Total Pension payable £145.54 per week.

The new rules to reduce Pensions by years contracted out also applies to the older scheme.

In contrast, a friend already retired and in receipt of his Pension before April 2016, gets £150 a week, with only 32 qualifying years and 6 years contracted out, because the new rules don't apply to him, only those who retire from April 2016.

It's apparent to me that the new flat rate State Pension of £155.65, isn't going to cost the government anything.

They're robbing Peter to pay Paul, and probably with change left over.

[sandyf]

With the new Pension scheme in place from April 2016, I requested a new forecast for my Pension due 2018.

My Pension breakdown is now thus;

44 qualifying years.

Pension plus SP2 total £183.14 per week.

Less 8 years COPE (Contracted out Pension Equivalent) @ £4.70 per week for each year.

Total Pension payable £145.54 per week.

The new rules to reduce Pensions by years contracted out also applies to the older scheme.

In contrast, a friend already retired and in receipt of his Pension before April 2016, gets £150 a week, with only 32 qualifying years and 6 years contracted out, because the new rules don't apply to him, only those who retire from April 2016.

It's apparent to me that the new flat rate State Pension of £155.65, isn't going to cost the government anything.

They're robbing Peter to pay Paul, and probably with change left over.

Extra qualifying years count for nothing so had you been contracted out for 6 years you would have received £154.94 as opposed to his £150.

Of course it is not going to cost the government anything. The shortfall between NI contributions and the state pension liability was putting an ever increasing burden on general taxation, something that could not be allowed to continue.

Just be thankful like the rest of us that we are not a lot younger. As time goes by the differential between the old and new will become a lot more significant.

[Ricardo]

In case this wasn't already posted, on this thread ...

http://www.telegraph.co.uk/pensions-retirement/financial-planning/britains-broken-pensions19-things-that-need-to-change-now/

[sandyf]

In case this wasn't already posted, on this thread ...

http://www.telegraph.co.uk/pensions-retirement/financial-planning/britains-broken-pensions19-things-that-need-to-change-now/

I don't think that articles that mix up state pensions and private pensions are particularly helpful.

[sandyf]

Pension arrived about half past nine this morning, 51.37 into my account. SuperRich is at 51.00 this morning.

Has anyone that is having state pension paid to a Thai bank account claimed the increases for a short trip to the UK?

If so, any problems?

[theoldgit]

Has anyone that is having state pension paid to a Thai bank account claimed the increases for a short trip to the UK?

If so, any problems?

I've done it every time, if I stop off in Europe en-route I've started and or finished from then.

I've never encountered a problem, quick phone call and all sorted.

They want your NI number, an address with postcode you'll be staying at some stage during your stay, be it friends, family or a hotel and a landline number, I've never been contacted.

The extra is paid with the next payment, depending on the timing and I've received a letter with the breakdown some weeks later.

[sandyf]

Has anyone that is having state pension paid to a Thai bank account claimed the increases for a short trip to the UK?

If so, any problems?

I've done it every time, if I stop off in Europe en-route I've started and or finished from then.

I've never encountered a problem, quick phone call and all sorted.

They want your NI number, an address with postcode you'll be staying at some stage during your stay, be it friends, family or a hotel and a landline number, I've never been contacted.

The extra is paid with the next payment, depending on the timing and I've received a letter with the breakdown some weeks later.

Thanks for the info.

[orientalist]

Another article about frozen pensions and a vaguely hopeful note: http://www.theguardian.com/money/2016/jun/04/frozen-pension-raf-veteran-canada

"There is a glimmer of hope for the frozen pensioners. The government has been examining a proposal for a “partial uprating” – the uprating of frozen pensions going forward, but from their current level only."

[Kwasaki]

Discussed before I guess but why don't Canada & the rest including Thailand get it sorted with UK the same as e.g. Philippines.

[dabhand]

Discussed before I guess but why don't Canada & the rest including Thailand get it sorted with UK the same as e.g. Philippines.

This was taken from an article connected with the potential impact on UK pensioners currently residing in EU countries:

......it is worth noting the UK has not arranged a similar deal with a non-EU country since 1981, primarily due to the costs involved,”

Unfortunately, the chances of any additions to the current list of 'non-frozen countries' looks extremely remote. Any change will need to be at the UK policy level and, as has been noted earlier, is more likely to be a watered down, uprating from current frozen level decision, if at all.

[canopus1969]

Declare a wife ?

I am about to phone* and lodge my pension claim (65 in August) – is it worth admitting I have a legal wife ? After all she gets nothing but it does mean extra problems sending them original or certified copies of the marriage certificate – and for what ?

*have tried to claim on-line but keep getting the message unavailable – anyone manage to lodge their pension claim on-line ?

[Kwasaki]

Declare a wife ?

I am about to phone* and lodge my pension claim (65 in August) – is it worth admitting I have a legal wife ? After all she gets nothing but it does mean extra problems sending them original or certified copies of the marriage certificate – and for what ?

*have tried to claim on-line but keep getting the message unavailable – anyone manage to lodge their pension claim on-line ?

Thai wives get nothing now effective from April this year I believe.

Much easier to phone IPC up about pension about 3 pm Thai time, they are very helpful.

[nontabury]

Discussed before I guess but why don't

Canada & the rest including Thailand get it sorted with UK the same as e.g. Philippines.

I'm sure you are aware that the Government policy was referred to one of the European courts a couple of years back. The policy was looked at by a number of EU judges,who backed up the Government. This was in spite of some of these judges being citizens of countries where they do treat all ex-pats the same.

Perhaps our best bet is to rely on our own parliament, and it's youngest member.

Edited June 9, 2016 by nontabury

[Ricardo]

I see that Cameron is now saying that a Brexit might threaten the affordability of current UK pensions ?

http://www.bbc.com/news/uk-politics-eu-referendum-36509931

"We've made a special effort to protect pensioners," he said - highlighting the "triple lock" which says the state pension will rise in line with earnings, inflation or by 2.5%, whichever is higher, and the protection of bus passes.

"We did all this in the expectation of a growing economy. But if we had a big black hole, we could struggle to justify this special protection any longer.

"In fact, even if we could justify it morally, it wouldn't actually be affordable," he said."

As always he seems to deliberately forget, that many overseas pensioners already suffer a pension-freeze, due to where they live.

So much for his "special effort to protect pensioners" !

[nong38]

I see that Cameron is now saying that a Brexit might threaten the affordability of current UK pensions ?

http://www.bbc.com/news/uk-politics-eu-referendum-36509931

"We've made a special effort to protect pensioners," he said - highlighting the "triple lock" which says the state pension will rise in line with earnings, inflation or by 2.5%, whichever is higher, and the protection of bus passes.

"We did all this in the expectation of a growing economy. But if we had a big black hole, we could struggle to justify this special protection any longer.

"In fact, even if we could justify it morally, it wouldn't actually be affordable," he said."

As always he seems to deliberately forget, that many overseas pensioners already suffer a pension-freeze, due to where they live.

So much for his "special effort to protect pensioners" !

Cheeky old sod isnt he, I heard it as well, that should cement the out vote even more against him, perhaps then we might get someone who is more supportive to the seniors.

It amazes me that they keep banging on about the minimum wage and the "Living Wage", I do like that one, how does the living wage stack up to the "Basic" State Pension? Another conveniently avoided set of figures, but then again it all depends which way the wind is blowing, remember Ros Altmann who used to champion the older generation until the the HMG gave her job to shut her up and make her see the light and folly of her ways, same William Haigh ( now Lord someat) was always telling us to claim the country back, get out of the EU etc even until 2011 when he suddenly became richer, Foreign Secretary and saw the light and folly of his ways, do you detect a pattern developing here? Something along the lines of I want to be rich, now I am rich and I dont give bottle for the less well off ( or should that be orf?) in society?

[i claudius]

What always surprises me is that my pension is not considered"a living wage" yet the govt still take tax off me and make it even less of " a living wage"

[lungbing]

If you only get the state pension then you will not pay tax as your personal allowance is higher than your state pension.

And your state pension is always paid without tax being stopped. However, the state pension is still taxable income and tax will be stopped from your other income source if your combined incomes exceed your personal allowance.

[nong38]

If you only get the state pension then you will not pay tax as your personal allowance is higher than your state pension.

And your state pension is always paid without tax being stopped. However, the state pension is still taxable income and tax will be stopped from your other income source if your combined incomes exceed your personal allowance.

I would not mind betting that all those people on the "living wage" also get top ups as well, no one actually just get the basic state pension do they? They would need to get top ups to bring it up to a living level.

I think it would be interesting to multiply the living wage per hour by lets say 30 hours and see how that relates to the basic state pension. The National Living Wage is currently £7.20 per hour for people over 24, so this where it gets difficult. The basic state pension is £ 119.30. So 30 x £7.20 is £216. I think 30 hours was reasonable but am I missing something here, I wonder how many people even with a 2nd pension would still fall short of the £216?

Perhaps someone in Government could help us see this in a better light or perhaps the Basic State Pension should be called the "National Dying Wage"!

I notice Cameron on Sunday made no mention of cutting Foreign Aid or cuts to the National Living Wage, or again did I miss something? Surely he could not be discriminating against Pensioners could he?

The more I look at him he reminds me of Mr Punch from Punch and Judy.

[orientalist]

The DWP website says my state pension can only be paid into an account where I live (i.e. in Thailand) or the UK. The bank account I want to use is on the Isle of Man, which is not in the UK. Anyone know if they make an exception for the Isle of Man? I'm having no luck contacting them by phone, presumably because they are busy with enquiries about the new flat pension.

[Oxx]

The bank account I want to use is on the Isle of Man, which is not in the UK.

Would that be Nationwide International? If so, it's no longer a bank in its own right, but simply a branch of Nationwide Building Society, and you shouldn't have a problem.

[orientalist]

I managed to reach them today and the Isle of Man is indeed OK for bank accounts. I just wish I had known that I didn't need to send my birth certificate to them before I spent 1,200 baht having a lawyer notarize a copy.

[lungbing]

I have been with Nationwide International for three years since I turned 65. No problem paying my pensions and an annuity in. Funnily enough they use a HSBC sorting code and the crdit to your Nationwide International account shows the payment as coming from HSBC, not your pension provider.

I also opened the Nationwide International account from within my local branch of the Nationwide Building Society. They checked the paperwork and my identity and sent it to the Isle of Man through their internal mail.

[sandyf]

If you only get the state pension then you will not pay tax as your personal allowance is higher than your state pension.

And your state pension is always paid without tax being stopped. However, the state pension is still taxable income and tax will be stopped from your other income source if your combined incomes exceed your personal allowance.

I do not know where you get that from. My pension is not far from the personal allowance and I was nowhere near being a high earner. There will be a lot on state pensions above the personal allowance.