Carlosm Posted October 4, 2016 Share Posted October 4, 2016 I moved my personnel pension off shore some time ago and will be able to claim it when i soon reach 55 years old. My pension provider said i should be able to also claim a reduced state pension though after sifting through the UKGOV website for days cannot find an answer. So, does anyone know if i can claim a reduced early UK state retirement pension and if so how ? Link to comment
Fithman Posted October 4, 2016 Share Posted October 4, 2016 Check when you will be able to claim a State Pension. https://www.gov.uk/state-pension-age I very much doubt there is provision for making an 'early' claim. Link to comment
BaldPlumber Posted October 4, 2016 Share Posted October 4, 2016 This might helphttp://www.thisismoney.co.uk/money/pensions/article-3493082/Will-allowed-retire-early-lower-state-pension.html Link to comment
The Fat Controller Posted October 4, 2016 Share Posted October 4, 2016 At the present time, you cannot get your state pension paid early in the UK. Link to comment
Ricardo Posted October 4, 2016 Share Posted October 4, 2016 That link, dating from 15th March 2016, repeats the big lie (as we now know it to be) about flat-rate pensions ... "a big overhaul next month will introduce a flat rate of £155.65 for future retirees" Link to comment
The Fat Controller Posted October 4, 2016 Share Posted October 4, 2016 Yes, that flat rate pension, as most know, only applies to those who were never contracted out AND have paid the required number of years of NI. I have just retired at age 57.5 with 38 years of contracted out NI and my forecast for the state pension at age 66 is just over £120 a week. Luckily for me, I am in a final salary pension scheme which has a variable pension option whereby they pay you your estimated state pension as soon as you take the company pension (now, for me) and when the state pension becomes payable, the company pension drops by roughly that amount, giving a predictable income in retirement. Link to comment
Ronuk Posted October 4, 2016 Share Posted October 4, 2016 There is no facility to claim a UK state pension early. I believe without checking the OP would need to wait until he is at least 66, maybe even 67 before he is legible to start receiving it. The way things are moving in the UK, those of us expats and those on a private pension are liable to be hearing very soon, that we will very likely be getting nothing in the way of a state pension. The last Tory government started to look at it regarding expats but I believe the EU stepped in to stop it. I'm only surprised that this shocking lot haven't yet attempted to get it looked at again. That could change after Brexit. Link to comment
Carlosm Posted October 5, 2016 Author Share Posted October 5, 2016 On 04/10/2016 at 0:08 PM, Fithman said: Check when you will be able to claim a State Pension. https://www.gov.uk/state-pension-age I very much doubt there is provision for making an 'early' claim. tried their website... v.confusing. Link to comment
rockingrobin Posted October 5, 2016 Share Posted October 5, 2016 ' I moved my personnel pension off shore some time ago and will be able to claim it when i soon reach 55 years old. My pension provider said i should be able to also claim a reduced state pension though after sifting through the UKGOV website for days cannot find an answer. So, does anyone know if i can claim a reduced early UK state retirement pension and if so how ? ' Apologies but it is not clear what your provider is saying.Are they suggesting that you can claim the state pension at the age 55 but reduced to account for early payment, or you can claim a state pension at age 66 reduced because of contracting/opting out for a period of time Link to comment
Carlosm Posted October 5, 2016 Author Share Posted October 5, 2016 1 hour ago, rockingrobin said: ' I moved my personnel pension off shore some time ago and will be able to claim it when i soon reach 55 years old. My pension provider said i should be able to also claim a reduced state pension though after sifting through the UKGOV website for days cannot find an answer. So, does anyone know if i can claim a reduced early UK state retirement pension and if so how ? ' Apologies but it is not clear what your provider is saying.Are they suggesting that you can claim the state pension at the age 55 but reduced to account for early payment, or you can claim a state pension at age 66 reduced because of contracting/opting out for a period of time My personnel provider said that as of April this year the early retirement state pension rules changed. He wasn't sure but said that he thinks i might be able to get my state pension at a reduced rate when i turn 55. I've since e-mail the pensions section of the UKgov website and am waiting their reply. Link to comment
The Fat Controller Posted October 5, 2016 Share Posted October 5, 2016 100% sure you cannot get any state pension until you reach pension age, which for me, born in 1959, will be when I am 66. Have look here https://www.moneyadviceservice.org.uk/en/articles/considering-early-retirement-instead-of-redundancy Link to comment
Carlosm Posted October 7, 2016 Author Share Posted October 7, 2016 Just for info. Got a reply from the UK state pension department. Basically, no-one is eligible for early retirement entitlement unless you have to retire due to health concerns.... Link to comment
howerde Posted October 7, 2016 Share Posted October 7, 2016 On 10/4/2016 at 3:54 PM, The Fat Controller said: Yes, that flat rate pension, as most know, only applies to those who were never contracted out AND have paid the required number of years of NI. I have just retired at age 57.5 with 38 years of contracted out NI and my forecast for the state pension at age 66 is just over £120 a week. Luckily for me, I am in a final salary pension scheme which has a variable pension option whereby they pay you your estimated state pension as soon as you take the company pension (now, for me) and when the state pension becomes payable, the company pension drops by roughly that amount, giving a predictable income in retirement. Yes it is a very good pension Link to comment
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