The Knitters Thread

nursemaggie · 5 October 2016 at 12:01PM

Last night I had nearly finished my frogged cardigan again and I thought, I don't think I have enough wool to finish. I measured it again and it is still far too big. I frogged it again and took another 10 stitches out. I hope it will be OK this time.

Yes THIRZAH Stashes are not very MSE. I said I would never build one up again but I have accumulated about 7 large carrier bags full in just over 2 years.

plumduff55 · 9 October 2016 at 9:25AM

Good morning everyone, it's a beautiful, sunny morning here and I am sitting debating whether to go to the car boot or not. I don't need anything but you never know what I could find. I am trying to cut back on my spending so I might be good and stay home but .........

I got a big shock yesterday. There was an item on the news saying about retired people in their early 60ies not being eligible for the full flat rate pension at 66. I thought I was ok as I had made 42 years contributions to NI. Turns out I'm not and will have to pay £3,730 if I want the full pension. A real shock for me as I am subsidising my small pension with my savings.

After finishing the snowman gloves I just couldn't decide what to do next so have been knitting a very lacy mohair mix scarf. It's about 50" at the moment so nearly finished. I may have enough to knit a pair of matching fingerless gloves - that would make a nice Xmas gift.

Happy knitting xx

Apollonia · 9 October 2016 at 12:17PM

There was an item on the news saying about retired people in their early 60ies not being eligible for the full flat rate pension at 66. I thought I was ok as I had made 42 years contributions to NI.

Have you checked with HMRC? The new state pension is 35 years of NI contributions. If you have a government gateway user ID you can check your records/pension forecast online.

Have a look at this link - it explains some of the record-keeping problems:
http://home.bt.com/lifestyle/money/investing-pensions/thousands-could-miss-out-on-state-pension-due-to-missing-records-11364103365151

plumduff55 · 9 October 2016 at 2:39PM

Hi Apollonia, I checked with the pensions gateway website yesterday and this is the figures I got from there. I could not understand it as before I decided to retire last year I checked my contributions and was told I had 42 years contributions. Silly me for believing I only needed 35 years of contributions.

Last night I posted on a MSE pensions thread and a very helpful person explained it to me. Because I have a final salary pension I was contracted out which means that although I paid for 42 years I was not paying the full amount as a portion was going into my NHS pension.

If I want the flat rate of pension then I have to pay nearly £4,000 or find a job and pay contributions till I'm 66. I am 60, live frugally and have saved and planned for my retirement. I just feel really angry that the goalposts keep changing xx

Apollonia · 9 October 2016 at 3:51PM

I hadn't considered contracted out pensions.

You might find this useful - Royal London Guide to topping up your state pension. The link below takes you to a page where you can download the pdf.

http://www.royallondon.com/about/media/good-with-your-money/

Page 15 of the booklet explains how to choose which 'missing' contributions to top up first for maximum benefit.

Hard_Up_Hester · 9 October 2016 at 6:04PM

I hope you don't mind me posting on this thread, I used to knit a lot but /I can no longer see well enough to knit properly now so I do more crochet. I find it easier as there is only a few stitches on my hook.

Anyway, I'm on the scrounge, I recently gave away all my stash as I'm downsizing soon, my 5yo DGD has asked me to make her a guinea pig like her own that died a while ago.

To make this I need a small amount of eyelash yarn in black brown and white, I'm happy to pay and to pay postage but I'm reluctant to buy a full ball of each as I know I will just end up wasting some of the yarn.

Thanks in advance if anyone can help.

Hugs Hester

Silvertabby · 9 October 2016 at 9:12PM

I got a big shock yesterday. There was an item on the news saying about retired people in their early 60ies not being eligible for the full flat rate pension at 66. I thought I was ok as I had made 42 years contributions to NI. Turns out I'm not and will have to pay £3,730 if I want the full pension. A real shock for me as I am subsidising my small pension with my savings.

Plumduff - if you won't get the full £155 per week single tier pension, it's because you must have been in a contracted out occupational pension scheme. The difference between your actual State pension and £155 will be paid as part of your occupational pension. In my case, I have just retired at 60 but, like you. won't get my State pension of £120 approx per week until I'm 66. One way of looking at it is that I am getting £35 per week of what would have been my State pension 6 years early.

plumduff55 · 9 October 2016 at 9:25PM

Hi Hester, sorry but I don't have any of that yarn at all. Hopefully someone else will be along soon and have some oddments.

Thanks again Apollonia for posting the link. Very useful guide - I have read it and it seems I have up to 6 years to pay. But personally, I would be worried that the goalposts will once again change and the government will withdraw the right for me to purchase these additional contributions. I am away all day tomorrow but will phone the pensions advice line on Tuesday and find out exactly what's what.

Funny how knitting the last 15" of the scarf seems to be taking forever.

Happy knitting xx

plumduff55 · 9 October 2016 at 9:36PM

Silvertabby wrote: »

Plumduff - if you won't get the full £155 per week single tier pension, it's because you must have been in a contracted out occupational pension scheme. The difference between your actual State pension and £155 will be paid as part of your occupational pension. In my case, I have just retired at 60 but, like you. won't get my State pension of £120 approx per week until I'm 66. One way of looking at it is that I am getting £35 per week of what would have been my State pension 6 years early.

I'm not understanding this at all. I have just read all letters regarding my state pension and cant find anything about this. I shall phone on Tuesday and find out more. I'm sure there's any explanation xx

plumduff55 · 9 October 2016 at 10:03PM

I'm not thinking about pensions anymore till I phone the pensions advice line on Tuesday BUT I am thinking of Xmas and here's the little snowman I've just finished last week for my niece's wee boy.

Happy knitting xx

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