Reclaim CPP article discussion

butterfly72

I received a cheque this week for £60 which is £40 of premiums plus 8% interest. This is for the period 2005 - 2008. I banked the cheque and then today I received a letter from CPP regarding the period 2000 - 2005. They are only going to compensate me 2004 - 2005 and will be forwarding me a cheque for £40. I'm a bit baffled as to how one years compensation is £40 and 3 years is £60!!


Sadly I have no proof of payment, but presumably CPP can let me know the yearly premium costs?

StlwfmEH77

Thanks for all your help re CPP Claim.


I have received a cheque for £300. today.

samui_bound

Thanks received a cheque today for £179.

MrsBoo

Just received a cheque today!

However it's in my maiden name, so I can't cash it. Hoping that I'll be able to get it sorted out. I'm a bit deflated!

moley166

Please excuse me if this point has already been explained, but I do not understand why CPP claim payments are taxed. Presumably the premiums were paid originally from taxed income. Why is a repayment being taxed again?

Winehouse

Thank you very much MSE for highlighting this to me, I completed the claims process and today received a cheque for £666.57! I'm ecstatic!!

:beer:

-taff

moley166 wrote: »

Please excuse me if this point has already been explained, but I do not understand why CPP claim payments are taxed. Presumably the premiums were paid originally from taxed income. Why is a repayment being taxed again?

Interest is extra income therefore interest is taxed. Not the capital refund.

moley166

-taff wrote: »

Interest is extra income therefore interest is taxed. Not the capital refund.

Many thanks -taff. I understand now!

veryintrigued

MrsBoo wrote: »

Just received a cheque today!

However it's in my maiden name, so I can't cash it. Hoping that I'll be able to get it sorted out. I'm a bit deflated!

Still - look on the brightside - receiving post on a Sunday is great news.

jesskel

Received my cheque yesterday. £539! Just over 400 £ paid for policy plus 8% interest minus £29 tax. Received my form very end of February and sent it back 2 days later so was expecting another couple of weeks before hearing anything. (Surname begins with R).