14 years I feel Ive wasted,not sure how to cope
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Classic: http://www.civilservicepensionscheme.org.uk/media/181385/ycpbe-april16-v1.pdf
Classic plus: http://www.civilservicepensionscheme.org.uk/media/181386/ycppbe_apr16v1.pdf
My (very brief) reading of them suggests they're both payable at age 60.
Classic plus means that you should get 1/60 of your final pensionable
earnings for every year of reckonable service in the scheme from 1 October 2002 (and I think your transferred pension from Classic counted as post-2002 for these purposes, called 'premium').
There was a lump-sum payment available in Classic, but I don't think there is in Classic Plus. Although I think you can choose to create one:
You will also be able to choose to give up some of the premium part of your pension for a lump sum. You can take up to a maximum of 30/7 x your premium pension, but you must give up £1 of pension for each £12 of lump sum.
But yeah, the pensions board is the place that will know all this stuff for sure.Mortgage when started: £330,995
“Two possibilities exist: either we are alone in the Universe or we are not. Both are equally terrifying.” Arthur C. Clarke0 -
I wonder if this is similar to the old Royal Mail scheme (who were originally part of the Civil service until - I think - October 1969 as the GPO) so maybe reasonable to think there are/were similarities).LannieDuck wrote: »
Classic plus means that you should get 1/60 of your final pensionable
earnings for every year of reckonable service in the scheme from 1 October 2002 (and I think your transferred pension from Classic counted as post-2002 for these purposes, called 'premium').
There was a lump-sum payment available in Classic, but I don't think there is in Classic Plus. Although I think you can choose to create one:
You will also be able to choose to give up some of the premium part of your pension for a lump sum. You can take up to a maximum of 30/7 x your premium pension, but you must give up £1 of pension for each £12 of lump sum.
But yeah, the pensions board is the place that will know all this stuff for sure.
The old RM scheme was an 'eightieth' scheme with 1/80th for each year of service and a lump sum of 3/80ths.
Years on they introduced a new scheme which was a 'sixtieth' one with 1/60th for every year of service but no lump sum.0 -
I wonder if this is similar to the old Royal Mail scheme (who were originally part of the Civil service until - I think - October 1969 as the GPO) so maybe reasonable to think there are/were similarities).
The old RM scheme was an 'eightieth' scheme with 1/80th for each year of service and a lump sum of 3/80ths.
Years on they introduced a new scheme which was a 'sixtieth' one with 1/60th for every year of service but no lump sum.
Yes, i think that sounds exactly the same.
OP - when you were told you weren't getting a lump-sum this year, did they say that you'd nonetheless start getting your annual pension through?Mortgage when started: £330,995
“Two possibilities exist: either we are alone in the Universe or we are not. Both are equally terrifying.” Arthur C. Clarke0 -
Sorry to hear it sounds awful and you'll be grieving. Crying does help to wash away upsets, different people like to do it in different way. A hot beverage like tea and alone is good for me followed a shower and then attempt to sleep, crying is exhausting and we need our sleep to maintain a healthy body.
I wonder if it will help to sit back and think of each of the 14 years and make a list of at least one positive each year (there might not be one for 2017 so just leave this one out because it's been less than a quarter of it anyway).
We can't control others' interpretations of things so thing about you're own positive memories at first.0 -
TBH, if you'd posted your update as a first post, I'd have found it incredibly hard to believe.
What a selfish, cold, calculating and mean person he is!
You are well out of that relationship - but you already know that..
I don't think you sank down to his level.
In fact I think £500 per annum for 14 years was selling yourself short.
But, if he follows through, you will have a nice nest-egg.
It would have been interesting to know how his 'my money is mine' attitude worked if he ever became ill and had to depend on you.
Re the pension - who was this 'man in a suit'?
I assume he was authorised to come into your workplace?
Who or what is POA (who said you were stupid)
I'd do as LannieDuck advises and see if you can find values for both schemes.
I'd also post on the Pensions and Annuities board.
Lots of good people on there, some who are IFAs, who will give you no-nonsense, non-judgemental advice.
Hi Pollycat,
The POA was the union I belonged to when I was in the civil service,it was them who said I was stupid.
The man in the suit??? he belonged to Weslyn who dealt with our pensions.Ever such a nice man,gggrrrhhhh:( at the time of him coming to our place of work I was on my own and I remember thinking about my precious mam who died when she was 72,she was still working because she only had her small widows pension and I was determined I wasn't going to do the same so when he was telling me all these figures I could receive if I changed from classic to classic plus well I,ll be honest and I just saw pounds signs in front of me.
At the time I was paying around £18 a month towards my pension,it majorly went up once I signed up but I thought it would benefit for my future.
The person that he is now is nothing like the one I spent 14 years with,I cant believe how much he has changed in such a short time.To be honest its like hes so angry with me and when I say angry I mean really angry,all I can say is its like he actually hates me....but why??? I cocked up good style on my pension and yes I was stupid to listen to the man in a suit but theres nothing I can do about it.:(0 -
I also paid throughout the 16 years something called widows benefit even though I was single,they did tell me I could claim every penny back when I reach 60 but only if I'm not married by then,sweet Jesus that isn't going to happen lol:Tmy-user-name wrote: »I found some links on the internet last night Lannie and they totally contradicted what the prison service told me when I rang them back in November last year.
All prison staff know its impossible to get a right answer from them when you ring them up,in fact I rang up twice to enquire and both times I was told different things.
The classic which I was in from 1997 to 2002 gives me a lump sum plus a monthly pension.Now I was told I would be able to give up a pound of my pension for a bigger lump sum which sounds good.
Then in 2002 to 2013 I was in Classic Plus and I paid more than double that I paid when I was in the Classic scheme.On the phone they told me I would not be entitled to a lump sum on the Classic Plus scheme,all I would get would be a monthly pension and nothing else.They said I couldn't give up the "one pound of my pension because I'm not allowed a lump sum on the Classic Plus scheme.
However looking on the internet last night it says the opposite so now I'm completely confused.???
It would be complete karma if the prison service gave me the wrong information and I am in fact due a better deal than they said I would be having.
Sorry if it sounds confusing.:(
I'm 60 in January and its then I will be receiving God knows what.I have to contact them 3 months before January to start filling in forms to get it in time for my 60th.0 -
Peanuts&Woodstock wrote: »Sorry to hear it sounds awful and you'll be grieving. Crying does help to wash away upsets, different people like to do it in different way. A hot beverage like tea and alone is good for me followed a shower and then attempt to sleep, crying is exhausting and we need our sleep to maintain a healthy body.
I wonder if it will help to sit back and think of each of the 14 years and make a list of at least one positive each year (there might not be one for 2017 so just leave this one out because it's been less than a quarter of it anyway).
We can't control others' interpretations of things so thing about you're own positive memories at first.
Hi Peanuts,
Thankfully I stopped crying about him a while ago,however its now I feel numb(especially after the other night and what actually came out of his mouth).I'm numb because Ive realised he probably never loved me at all even from the very beginning of us getting together .Its the money talk we had which has left a bad taste in my mouth,it was just all so clinical and cold,it was like he was paying me off and for the life of me I cant understand why I told him it was pay back time and he needs to pay me something for allowing this to happen during our relationship,at times I feel like I'm as bad as him and I don't like that feeling one bit.
Don't get me wrong,theres no way I would offer it back to him,Im numb....but I'm not dumb,or maybe I am for allowing this to happen.0 -
LannieDuck wrote: »Yes, i think that sounds exactly the same.
OP - when you were told you weren't getting a lump-sum this year, did they say that you'd nonetheless start getting your annual pension through?
From what I can remember about the 2 phone calls to them,they said I would get around £5,000 lump sum and a pension of around £200 a month.
Bloody man in a suit didn't say that way back in 2002
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This is what I found on the CLASSIC PLUS website.
Getting your pension The pension payroll provider pays pensions to Civil Service pensioners and to civil servants’ dependants, where appropriate. You will receive an annual pension and a oneoff lump sum. The pension payroll provider will pay your lump sum direct to either your bank or building society account, whichever you indicate on your Personal Details Form. The provider will pay your pension every month in arrears, directly into your bank or building society account. Your pension will be treated as earned income for tax purposes; any tax that is due is taken off before the pension is paid.
We work out your pension in two parts. You earn 1/80 of your final pensionable earnings for each year of reckonable service in the scheme before 1 October 2002 and 1/60 of your final pensionable earnings for every year of reckonable service in the scheme from 1 October 2002. Pension at scheme pension age (60) Example Lloyd retires after 30 years’ service of which 20 years were in classic (before 1 October 2002) and 10 years were in premium (from 1 October 2002). Lloyd’s final pensionable earnings are £20,000 a year. Pension Lloyd’s pension is made up of two elements, worked out as follows: classic service (1/80 x 20) x £20,000 = £5,000 premium service (1/60 x 10) x £20,000 = £3,333.32 Total = £8,333.32 Automatic lump sum Lloyd will get an automatic lump sum relating to his classic service of 3/80 x 20 x £20,000 = £15,000. (This will be tax free, subject to the Lifetime Allowance.) Please note that the lump sum will be reduced if you owe some scheme contributions.
Does this actually mean I will be getting a lump sum and pension on the classic plus scheme??the phone calls said I wouldn't get a lump sum,only a pension.0 -
Maybe it dosent??my-user-name wrote: »This is what I found on the CLASSIC PLUS website.
Getting your pension The pension payroll provider pays pensions to Civil Service pensioners and to civil servants’ dependants, where appropriate. You will receive an annual pension and a oneoff lump sum. The pension payroll provider will pay your lump sum direct to either your bank or building society account, whichever you indicate on your Personal Details Form. The provider will pay your pension every month in arrears, directly into your bank or building society account. Your pension will be treated as earned income for tax purposes; any tax that is due is taken off before the pension is paid.
We work out your pension in two parts. You earn 1/80 of your final pensionable earnings for each year of reckonable service in the scheme before 1 October 2002 and 1/60 of your final pensionable earnings for every year of reckonable service in the scheme from 1 October 2002. Pension at scheme pension age (60) Example Lloyd retires after 30 years’ service of which 20 years were in classic (before 1 October 2002) and 10 years were in premium (from 1 October 2002). Lloyd’s final pensionable earnings are £20,000 a year. Pension Lloyd’s pension is made up of two elements, worked out as follows: classic service (1/80 x 20) x £20,000 = £5,000 premium service (1/60 x 10) x £20,000 = £3,333.32 Total = £8,333.32 Automatic lump sum Lloyd will get an automatic lump sum relating to his classic service of 3/80 x 20 x £20,000 = £15,000. (This will be tax free, subject to the Lifetime Allowance.) Please note that the lump sum will be reduced if you owe some scheme contributions.
Does this actually mean I will be getting a lump sum and pension on the classic plus scheme??the phone calls said I wouldn't get a lump sum,only a pension.0
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