UK Pension - You'll be dead before you get it, so don't bother.

**Seekingasylum** · 08-03-2018, 02:51 PM

Originally Posted by Pragmatic

My tax code for next year is 1185L. With 2 private pensions I exceed that allowance. It's exceed even more by my State Pension but there is nothing on the notification that tax is being deducted from that. I'm kinda puzzled.

And so you should be. Your SPA is tax free. In order to obtain your tax code they subtract your annual SPA ( i.e 52 x your weekly pension ) from your standard tax allowance (L) which for year 2017/18 was £11500. Assuming you receive, say, an annual SPA of £6552 then your new, revised tax allowance will be £4948. Your tax code will therefore be shown as 494L.

SPA has never been taxable and this how the HMRC deal with it.

I got notification of my code a month after my first receipt and that is how it was illustrated.

They have made an error and sent you a notification letter based on next year's new personal tax allowance increase by £350 up to £11850 as if you were not in receipt of a SPA. It should have stated your new code had been calculated at 529L, using my example.

Write to them or simply wait and in ten years they'll ask for you to return £ 12,000.

I omitted to mention, just to make things clear, the first £5290 of your other pension income will therefore be tax free.

**david44** · 08-03-2018, 02:57 PM

Or posthumous claim on estate

Die now pay later

**Dandyhole** · 09-03-2018, 09:09 PM

My state pension is showing as the maximum amount of £167.84, with 39 years of full contributions.
9 years of nil or partial contributions to.

But the Tory arseholes are making me wait an extra 8 months past 65 for it.

**Pragmatic** · 09-03-2018, 09:31 PM

Originally Posted by Seekingasylum

I got notification of my code a month after my first receipt and that is how it was illustrated.

I never received that notification. But thanks for your input.

**Pragmatic** · 09-03-2018, 09:34 PM

Originally Posted by Dandyhole

But the Tory arseholes are making me wait an extra 8 months past 65 for it.

Don't worry as I'm sure there's some hardened Tories in the same boat. But they aren't bitching about it.

**Dandyhole** · 09-03-2018, 09:39 PM

Originally Posted by Pragmatic

Don't worry as I'm sure there's some hardened Tories in the same boat. But they aren't bitching about it.

Maybe, but the “ten bob” tories most certainly are

**buriramboy** · 09-03-2018, 09:39 PM

Originally Posted by Dandyhole

My state pension is showing as the maximum amount of £167.84, with 39 years of full contributions.
9 years of nil or partial contributions to.

But the Tory arseholes are making me wait an extra 8 months past 65 for it.

Don't you get it as soon as you reach the required age then? Why do you have to wait till 8 months after reaching pensionable age?

**david44** · 09-03-2018, 10:47 PM

Originally Posted by buriramboy

Don't you get it as soon as you reach the required age then? Why do you have to wait till 8 months after reaching pensionable age?

Goalposts are moving to encourage the feckless

**Switch** · 10-03-2018, 12:20 AM

The government keeps moving the pension age further away to save money. Mine will be payable at 65 years and 9 months.
If I make it that far.

**Seekingasylum** · 10-03-2018, 02:44 PM

Originally Posted by Dandyhole

My state pension is showing as the maximum amount of £167.84, with 39 years of full contributions.
9 years of nil or partial contributions to.

But the Tory arseholes are making me wait an extra 8 months past 65 for it.

I assume you were born after 6th December 1953 in which case the SPA qualifying age is gradually rising from 65 years by incremental monthly increases until 2020 when it will be 66 years for all. At current state of play, it will be reviewed every few years, most folk in their twenties will not be receiving a SPA until they reach 70.

Incidentally, four of those years are redundant in that one only has to make qualifying contributions for 35 years in order to receive a full pension.

Given you are to receive that amount I must assume that you also made those contributions at the full rate and therefore worked in the private sector all your life?

Well done!

**OhOh** · 10-03-2018, 11:11 PM

Originally Posted by Dandyhole

9 years of nil or partial contributions to.

So, a nine year stretch. Whatever was your crime?

**buriramboy** · 10-03-2018, 11:16 PM

Originally Posted by OhOh

So, a nine year stretch. Whatever was your crime?

Could just have been living overseas like me, I have a 9 or 10 year gap from 1999_2009 for just that reason.

**OhOh** · 11-03-2018, 12:03 PM

In some overseas countries isn't it like a sentence?

**Switch** · 11-03-2018, 02:48 PM

Originally Posted by OhOh

In some overseas countries isn't it like a sentence?

Oft appended as “Waiting for Godot”.

**Dead Metal** · 15-03-2018, 04:38 AM

I know a guy that ran foul of the TAXman and so stopped paying contributions from that point on.

He receives minimum state pension but because he now rents his money is topped up, his weekly is now worth a total
of £240 .

I have always paid in, have my own place etc. etc. and receive £638.20 per month plus winter fuel, not a penny more, not a penny less.

How is that system fair ?

Go and spunk yer money away and have the gov, look after you.

Always work, pay yer dues and get pissed on !!!

**fishlocker** · 15-03-2018, 05:12 AM

I'm staying put, playing fair and comming in clean. When I buzz off it will be like the Smith Barney comercial....

Tag line " I've made my money the old-fashioned way, I've earned it."

the fish

**fishlocker** · 15-03-2018, 05:16 AM

PS, I've had spam before. And ants.

**OhOh** · 15-03-2018, 11:46 AM

Originally Posted by fishlocker

Tag line " I've made my money the old-fashioned way, I've earned it."

UK pensioners have always earned their Old Age or now State pension. There "earnings" were taxed, mainly prior to receiving them, some paid in arrears but accounts were demanded by HMG. All as democratically agreed I think in the 1940s. Tweaking the agreement to somebodies advantage has taken place many times.

UK Pension - You'll be dead before you get it, so don't bother.-377e4ce100000578-3753237-image-9_1471885442954-jpg

UK Pension - You'll be dead before you get it, so don't bother.-377e4ce100000578-3753237-image-9_1471885442954-jpg

Are you a colonial?

**buriramboy** · 15-03-2018, 02:03 PM

Originally Posted by Dead Metal

I know a guy that ran foul of the TAXman and so stopped paying contributions from that point on.

He receives minimum state pension but because he now rents his money is topped up, his weekly is now worth a total
of £240 .

I have always paid in, have my own place etc. etc. and receive £638.20 per month plus winter fuel, not a penny more, not a penny less.

How is that system fair ?

Go and spunk yer money away and have the gov, look after you.

Always work, pay yer dues and get pissed on !!!

The system is not fair, waster who frequents my local pub in his mid 30s basically never worked a day in his life not legally anyway, somehow gets disability benefit although fuk all wrong with him and brags about taking home £1200 a month from all his benefits plus has his house and council tax paid on top of that aswell as his state pension contributions. Fucker has never paid a water bill in his life either, brings his water bill down the pub, now in excess of £5k as he knows they can't cut him off so just doesn't pay and nothing they can do.

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