UK pensions

[GuestHouse]

1 hour ago, possum1931 said:

That's true, how much power does a prime minister have over their government robbing state pensioners by refusing

to give them the annual increases that they are entitled to? Has anyone ever known of any British prime minister condemning

the refusal of these annual pension increases?

 

 

There are number of MPs who argue against the freeze on increases to pensioners overseas, amongst the the current leader of the Labour Party.

 

The hurdle us not MPs or indeed PMs but the general public and the exchequer.

 

Read any UK newspaper article on the matter and you'll find the reader's comments are filled with that essential ingrediant of British public political debate - Spite and envy.

 

 

[evadgib]

...which isn't helped by stock photos showing Mr & Mrs Wrinkly sitting in his & hers deckchairs on a sunny beach.

 

Edited August 10, 2016 by evadgib

[i claudius]

Much of the problem is ,that in the days when the freeze came into play ,it was only the richer pensioners who could retire abroad ,now its the poor ones because it is to expensive in the UK

[hathairat2711]

Are some people still receiving their UK state pension several days late as I'm considering using Kasikorn.

 

Those that receive their pension on their allocated day, what Thai bank do they use

 

My pension is due on a Friday and my current Thai bank receives it on the Tuesday/Wednesday following.

 

Comments would be appreciated.

 

 

[billd766]

45 minutes ago, hathairat2711 said:

Are some people still receiving their UK state pension several days late as I'm considering using Kasikorn.

 

Those that receive their pension on their allocated day, what Thai bank do they use

 

My pension is due on a Friday and my current Thai bank receives it on the Tuesday/Wednesday following.

 

Comments would be appreciated.

 

 

 

I use Kasikorn as well and all 3 of my pensions turn up 2 days later. I think part of the reason is that there is an intermediate bank in the line plus all the funds go to Kasikorn central bank and then sent to our accounts the next day.

 

This is likely due to the fact that all banks in Thailand use the swift code to the central office but do not include our ranch account number.

[hathairat2711]

Thanks billd

 

When I last spoke to International pensions re change of bank details, they asked not only for the Thai bank name and address but also the name of the branch and address which I find unusual considering you give them the correct SWIFT code and the account number.  

 

The 28 day payment mechanism is already paid in arrears plus a further two/three days late.  No doubt this will be adjusted when we eventually go to another place.

 

A simple solution for Pensions UK, would be to release the funds to Citibank say a couple of business days before rather that the current 9/10 days to clear but of course that would be too easy.

 

I would be interested to hear of anyone who receives their UK pension on the due date and what Thai bank do they use.

 

 

Edited August 14, 2016 by hathairat2711
Deleted a word

[JohnC]

My pension falls due on a Thursday and paid via Citibank I receive it around 0930 on the Friday except when a Thai Bank holiday falls on a Thursday or Friday.

However, I have another pension that falls due on the 19th of the month and this always takes a minimum of two days to reach my Bangkok Bank Account, if the 19th falls on a Friday and the Monday is a bank holiday it can be Wednesday before I receive the funds! 

[theoldgit]

3 hours ago, hathairat2711 said:

I would be interested to hear of anyone who receives their UK pension on the due date and what Thai bank do they use.

 

I get mine paid into the Nationwide in the IOM,  it's always credited to that account one day early, on a Thursday.

If I send cash over, which l don't do every month, it hits my Kasikorn account the following morning, that doesn't really answer your question but leads me to believe that the problem isn't the Thai end, though Citbank isn't in the equation.

[hathairat2711]

11 minutes ago, theoldgit said:

 

I get mine paid into the Nationwide in the IOM,  it's always credited to that account one day early, on a Thursday.

If I send cash over, which l don't do every month, it hits my Kasikorn account the following morning, that doesn't really answer your question but leads me to believe that the problem isn't the Thai end, though Citbank isn't in the equation.

I used to have my pension paid into Nationwide International, but as you probably know they are closing next year.

 

When I did transfer funds to my Thai bank from Nationwide, as you say, the monies arrived the following day (without fail).

 

I understand a few days late is no big problem but I fail to understand why sending your pension to a Thai bank, in most cases, takes approx 10 days to clear.  If the 28 day pension is released to Citibank approx 10 days before it's due then on what day does Citibank UK actually convert the money to THB and by what transfer method is used.  Surely it can't be a SWIFT transfer.

 

 

 

Edited August 14, 2016 by hathairat2711
amendment

[lungbing]

Does anybody yet know when Nationwide International will be closing, other than the nebulous 'next year'?

[sandyf]

On 8/10/2016 at 10:37 AM, GuestHouse said:

 

There are number of MPs who argue against the freeze on increases to pensioners overseas, amongst the the current leader of the Labour Party.

 

The hurdle us not MPs or indeed PMs but the general public and the exchequer.

 

Read any UK newspaper article on the matter and you'll find the reader's comments are filled with that essential ingrediant of British public political debate - Spite and envy.

 

 

The only people that support unfreezing of pensions are those that have no chance of becoming PM. The shortfall between NI contributions and State Pension payments is funded by general taxation. No PM is ever going to take action voluntarily that would lead to a tax increase.

[i claudius]

Yesterday morning i transfered money from nationwide ,arrived this morning .

[sandyf]

On 8/14/2016 at 11:11 AM, hathairat2711 said:

Are some people still receiving their UK state pension several days late as I'm considering using Kasikorn.

 

Those that receive their pension on their allocated day, what Thai bank do they use

 

My pension is due on a Friday and my current Thai bank receives it on the Tuesday/Wednesday following.

 

Comments would be appreciated.

 

 

I get my pension every 4th Friday and invariably comes in about 09.30 on the Friday morning. Been 1 day late about 4 times in 4 years. Normally comes on a Thursday if it is a UK bank holiday weekend. I use TMB.

[sandyf]

On 8/14/2016 at 4:42 PM, theoldgit said:

 

I get mine paid into the Nationwide in the IOM,  it's always credited to that account one day early, on a Thursday.

If I send cash over, which l don't do every month, it hits my Kasikorn account the following morning, that doesn't really answer your question but leads me to believe that the problem isn't the Thai end, though Citbank isn't in the equation.

A few weeks back I posted a question asking if anyone who had their state pension paid direct to a Thai bank account had claimed the additional pension for a short stay in the UK.

You responded that you had, but I fail to see how Nationwide could be classed as a Thai bank account.

[JohnC]

As I said earlier, my state pension is paid direct to my Bangkok Bank Account, I also claim the extra pension on my annual visit home and this usually appears in my BB about a month later. 

[evadgib]

Further to posts on pages 93-95 re resuming payment of NI cont at the self employed (ie lowest) rate now that a gap has appeared  as a result of goalposts being moved for those born in the late 50's/early 60's;  Here is a reply received today from HMRC.

 

How is the SE rate no longer acceptable when it was their idea and perfectly acceptable up until we hit 30 years?

 

I'm considering appealing. 2-3 quid a week was perfectly ok but 14+ for essentially the same goal is somewhat ambitious given we;

 

- Aren't working

- Are excluded from NHS etc

- Had the right to vote prized from our hands after 15 years abroad.

 

Redacted copy of reply received 17 Aug 16.pdf

Edited August 17, 2016 by evadgib

[rockingrobin]

On 8/9/2016 at 3:11 AM, sandyf said:

Quite right Bill. If we all went back to the UK the additional pension would be provided and also the additional NHS resources would be financed. It really is a question of penalising the minority to safeguard votes.

 

Before anyone goes off on a tangent the point on the NHS was about finance, nothing to do with entitlement etc etc.

It will be interesting to see what the gov. does regard  uprating of pensions in the EU following Brexit negotations.

As far as i can tell the reason for uprating in europe is due to EU law , and there are only about 5 countries that currently have a separate reciprocal agreement ( germany was in progress but never completed ) 

[Ricardo]

2 hours ago, evadgib said:

Further to posts on pages 93-95 re resuming payment of NI cont at the self employed (ie lowest) rate now that a gap has appeared  as a result of goalposts being moved for those born in the late 50's/early 60's;  Here is a reply received today from HMRC.

 

How is the SE rate no longer acceptable when it was their idea and perfectly acceptable up until we hit 30 years?

 

I'm considering appealing. 2-3 quid a week was perfectly ok but 14+ for essentially the same goal is somewhat ambitious given we;

 

- Aren't working

- Are excluded from NHS etc

- Had the right to vote prized from our hands after 15 years abroad.

 

Redacted copy of reply received 17 Aug 16.pdf

 

I agree with you, I'd be perfectly happy to purchase 5-years-worth of extra NI-contributions at class-2 rates, but will definitely not be doing so at class-3, it's a total rip-off !

 

I was refused the option to pay as self-employed, despite having been self-employed for fifteen years prior to my departure in 2004, because I couldn't prove I had been self-employed once I was overseas in Thailand  ...  of course I wasn't, I had retired early, and gone to live in Thailand  ...  supporting myself but not actually working any longer.

 

Unless they are willing to count managing my investments, and raising a family at my own expense, as self-employment ? I wonder whether I ought to try to claim, as having been a house-husband ?

[dick dasterdly]

On 8/16/2016 at 9:15 AM, sandyf said:

The only people that support unfreezing of pensions are those that have no chance of becoming PM. The shortfall between NI contributions and State Pension payments is funded by general taxation. No PM is ever going to take action voluntarily that would lead to a tax increase.

Good point.  Would it cost enough lead to a tax increase though?

 

I've no idea and don't much care - as I've always assumed that the State pension wouldn't exist by the time I was old enough to claim it.

[dick dasterdly]

1 hour ago, rockingrobin said:

It will be interesting to see what the gov. does regard  uprating of pensions in the EU following Brexit negotations.

As far as i can tell the reason for uprating in europe is due to EU law , and there are only about 5 countries that currently have a separate reciprocal agreement ( germany was in progress but never completed ) 

Depends on how many Brits are hoping to retire in EU countries.

 

Not enough I suspect to encourage the Brit. govt. to stop any pension increases (ala pensioners in other countries that receive no increases).

 

Will this cause an uproar back home?  I doubt it.

[evadgib]

2 hours ago, Ricardo said:

 

I agree with you, I'd be perfectly happy to purchase 5-years-worth of extra NI-contributions at class-2 rates, but will definitely not be doing so at class-3, it's a total rip-off !

 

I was refused the option to pay as self-employed, despite having been self-employed for fifteen years prior to my departure in 2004, because I couldn't prove I had been self-employed once I was overseas in Thailand  ...  of course I wasn't, I had retired early, and gone to live in Thailand  ...  supporting myself but not actually working any longer.

 

Unless they are willing to count managing my investments, and raising a family at my own expense, as self-employment ? I wonder whether I ought to try to claim, as having been a house-husband ?

 

My appeal will seek clarity as follows:

 

a) Non Resident Brits having their SE status revoked by HMRC despite previously encouraging them to sign up via this route in order to pay NI cont while abroad.

 

b  ) The ability to retrospectively purchase 5 years at the old SE rate, given HMRC replied to an enquiry two years ago  telling me not to do anything until after 06 Apr 16 when I should write to them again. I therefore couldn't top up any earlier because the goalposts were still on the move...

 

This whole thing is a mess and is not the fault of those caught up in it

Edited August 17, 2016 by evadgib

[billd766]

9 hours ago, rockingrobin said:

It will be interesting to see what the gov. does regard  uprating of pensions in the EU following Brexit negotations.

As far as i can tell the reason for uprating in europe is due to EU law , and there are only about 5 countries that currently have a separate reciprocal agreement ( germany was in progress but never completed ) 

 

 

Guidance

Countries where we pay an annual increase in the State Pension

Published 9 June 2014

Contents

EEA countries, Gibraltar and Switzerland

Countries the UK has a social security agreement with

 

https://www.gov.uk/government/publications/state-pensions-annual-increases-if-you-live-abroad/countries-where-we-pay-an-annual-increase-in-the-state-pension

 

• Barbados
• Bermuda
• Bosnia-Herzegovina
• Jersey
• Guernsey
• the Isle of Man
• Israel
• Jamaica
• Kosovo
• Macedonia
• Mauritius
• Montenegro
• the Philippines
• Serbia
• Turkey
• USA

The UK has social security agreements with Canada and New Zealand, but you cannot get a yearly increase in your UK State Pension if you live in either of those countries.

 

 

[billd766]

I got my RAF pension yesterday afternoon. As usual it gets the lowest exchange rate out of the the 3 and yesterday I got 44.92 per GBP.

 

Yesterdays KBank TT rate was 44.72.

[Kwasaki]

On 8/14/2016 at 0:58 PM, hathairat2711 said:

Thanks billd

 

When I last spoke to International pensions re change of bank details, they asked not only for the Thai bank name and address but also the name of the branch and address which I find unusual considering you give them the correct SWIFT code and the account number.  

 

The 28 day payment mechanism is already paid in arrears plus a further two/three days late.  No doubt this will be adjusted when we eventually go to another place.

 

A simple solution for Pensions UK, would be to release the funds to Citibank say a couple of business days before rather that the current 9/10 days to clear but of course that would be too easy.

 

I would be interested to hear of anyone who receives their UK pension on the due date and what Thai bank do they use.

 

 

 

The IPC sent a letter on the start of my UK gov pension stating payment day will be as l have chosen 4 weekly into my Thai bank on a Monday.

 

This was the case up until they announced Thai banks want them to use a extra ref which was l guess a swift code.

 

Ever since then l don't get it until Thursdays.

 

I think billd766 has it right in a way because l found the local Bangkok Bank Branch l use don't have a swift number so l am assuming they don't get it into my account directly as before it goes through there main Head Office Branch in Bangkok first.

 

I enquired at the local SCB and they have a swift code so l want change to them anyway so l'll see if it goes back to Monday not that, that is the reason for change.

 

[Liquorice]

2 hours ago, Kwasaki said:

 

The IPC sent a letter on the start of my UK gov pension stating payment day will be as l have chosen 4 weekly into my Thai bank on a Monday.

 

This was the case up until they announced Thai banks want them to use a extra ref which was l guess a swift code.

 

Ever since then l don't get it until Thursdays.

 

I think billd766 has it right in a way because l found the local Bangkok Bank Branch l use don't have a swift number so l am assuming they don't get it into my account directly as before it goes through there main Head Office Branch in Bangkok first.

 

I enquired at the local SCB and they have a swift code so l want change to them anyway so l'll see if it goes back to Monday not that, that is the reason for change.

 

 

SCB only have a SWIFT code for their main Bangkok branch, just the same as BKK.

https://www.theswiftcodes.com/thailand/page/2/

 

I frequently do transfers from my Nationwide account to BKK London then forwarded onto my BKK branch A/c.

It has never taken more than 18 hours from making the request to the funds being debited in my branch account.

 

Pensions paid on a Monday to your BKK A/c should reach your branch A/c by Tuesday.

What reference code have you given the DWP.

 

 

[lungbing]

The first three digits of your account number is the branch number, so the SWIFT code only needs to point to the main bank of your choice  in Bangkok.

[ignis]

I am still at a loss as to why my State Pension take so long to arrive....... 

 

I have gone back over letter from DWP...... printed out 2016 calender's to mark down the dates...  beginning of the year  up to May Pension day to time it arrived in my BBK Bank account was between 10 - 32 days late, had to phoned a few time to be assured the payment was sent out...

Last 3 months payments, due day is Monday, the money arrives the following week on Wednesday... Eg: payment day was on the 1st August,  Pension was in the account in the morning 10th..

In the past have phoned and sent registered letter to both Newcastle and Wolverhampton, the answer is always the same they use Citi Bank for overseas transfers and this takes 10 - 14 days. 

 

DWP will not accept paying into London Branch, and in 9 months still cannot get an answer as to why not.. they just say Bangkok Bank London is a 3rd Party Bank..........    My Private Pension is paid into London branch and is in my Thai account the following day, never been a problem in 12 months.. I get a automatic email from London Branch, the following day get a SMS from my Thai account stating Private Pension arrived.

 

Still cannot figure out how some can get there Pension on Due day or within 2 or 3 days... mine have never been quicker then 10 days.  My 2016 calender's is now marked down with arriving date. [Not Pension due date]

[thai3]

Just got my pension but don't understand how they worked it out, even after going through the book they send. 35 years contributions with 16 opted out, so I would have expected to get at least half of the big increase that started in April. But no instead just an extra 6 quid a week above the old rate. Should I ask them to look at it again or is there some devious formula at work?

[Ricardo]

1 hour ago, thai3 said:

Just got my pension but don't understand how they worked it out, even after going through the book they send. 35 years contributions with 16 opted out, so I would have expected to get at least half of the big increase that started in April. But no instead just an extra 6 quid a week above the old rate. Should I ask them to look at it again or is there some devious formula at work?

 

My own quote a year ago was similar to yours, I am forecast to get GBP 115.95 per-week from September 2020, with 31 qualifying years of which at least several will have been contributing to company pension schemes.

 

They don't tell me how many years I was contracted-out, although I do plan to ask them for details nearer-the-time, so that I can check their dates against my own employment-records.

 

I believe that there is a commitment not to pay less under the new rules, than we would anyway have got under the old rules, a safety-net of sorts.  But there is no doubt that the promises of "a flat rate for all" have turned out to be untrue.

[evadgib]

4 hours ago, ignis said:

I am still at a loss as to why my State Pension take so long to arrive....... 

 

I have gone back over letter from DWP...... printed out 2016 calender's to mark down the dates...  beginning of the year  up to May Pension day to time it arrived in my BBK Bank account was between 10 - 32 days late, had to phoned a few time to be assured the payment was sent out...

Last 3 months payments, due day is Monday, the money arrives the following week on Wednesday... Eg: payment day was on the 1st August,  Pension was in the account in the morning 10th..

In the past have phoned and sent registered letter to both Newcastle and Wolverhampton, the answer is always the same they use Citi Bank for overseas transfers and this takes 10 - 14 days. 

 

DWP will not accept paying into London Branch, and in 9 months still cannot get an answer as to why not.. they just say Bangkok Bank London is a 3rd Party Bank..........    My Private Pension is paid into London branch and is in my Thai account the following day, never been a problem in 12 months.. I get a automatic email from London Branch, the following day get a SMS from my Thai account stating Private Pension arrived.

 

Still cannot figure out how some can get there Pension on Due day or within 2 or 3 days... mine have never been quicker then 10 days.  My 2016 calender's is now marked down with arriving date. [Not Pension due date]

Do they have thethe correct IBAN no or Swift code?