We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Pensionable pay lower than salary!

13»

Comments

  • seven-day-weekend
    seven-day-weekend Posts: 36,755 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    MrChips wrote: »
    Just bens earned b 4 Nine Teen Eight Tea ;-)

    i.e. you shouldn't suffer any reduction.

    :rotfl:Thanks, as I thought!
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • dzug1
    dzug1 Posts: 13,535 Forumite
    10,000 Posts Combo Breaker
    seven-day-weekend wrote: »
    So my deferred LG Pension at the moment tells me that on today's rates I will get around £5k Pension a year which I can draw unreduced in August 2014. I paid into the scheme from 1995-2004 which is why it is not a huge amount.

    I draw my full State Pension next January.

    Are you saying that my LGPS deferred benefits will then reduce, or does it only effect benefits accrued before 1980?

    Answers in words of one syllable please! :)

    I'm pretty sure (but not 100%) the reduction only applies to benefits accrued before 1980 or thereabouts.
  • MrChips
    MrChips Posts: 1,067 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    In any case, for 9 years of service, the deduction would amount to £1.35 per month so I wouldn't be too concerned.
    If I had a pound for every time I didn't play the lottery...
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.8K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.4K Mortgages, Homes & Bills
  • 178.2K Life & Family
  • 260.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture