Prince Charles`s State Pension

topo1402

Now that Prince Charles is 65 I was amused to read that he is donating his state pension to charity but as he has a private income and would not presumably have paid NI contributions he would surely not be eligible for a state pension.

Freecall

Presumably he did pay NI when he was employed as a pilot in the Navy.

Freecall

There is a bit more detail here

mania112

Do his duties as a Prince of the country not count as a payable position?

Plus the fact he owns land and charities?

Perelandra

One of the few men to retire before he is able to start the job he was born to do...

Old_Git

does the queen and Phil the get the state pension .Do they get the winter heating allowance.

gardner1

Old_Git wrote: »

does the queen and Phil the get the state pension .Do they get the winter heating allowance.

Well they have got a few large draughty properties to heat

theGrinch

The best donation Charles should he ever make it to King, is reform the Monarchy, to acknowledge the bloodythirsty history of his ancestors, theft of wealth and lands and grotesque fornication. Then hang his head in shame and beat his breast for absolution.

Meanwhile, he's surely the only man in history to have the same hairstyle since birth.

mgdavid

theGrinch wrote: »

The best donation Charles should he ever make it to King, is reform the Monarchy, to acknowledge the bloodythirsty history of his ancestors, theft of wealth and lands and grotesque fornication. Then hang his head in shame and beat his breast for absolution.

Meanwhile, he's surely the only man in history to have the same hairstyle since birth.

and what about you, what have your forbearers been up to? Much the same I suspect!

FatherAbraham

topo1402 wrote: »

Now that Prince Charles is 65 I was amused to read that he is donating his state pension to charity but as he has a private income and would not presumably have paid NI contributions he would surely not be eligible for a state pension.

I think you presume too much. The cost of paying voluntary National-Insurance contributions to buy a full state pension is so low, in relation to the benefit received, that it's far more likely that his financial advisor will have ensured that these payments were made.

One of my French colleagues, who's planning to return to France after a decade of working in the UK, noticed that he'll only need to pay voluntary class-2 contribs at about £4/week for a year, to add about £4/week of income for the rest of his life when he retires. He's planning to load up on extra UK years, because they're such a bargain.

Hedging one's bets is a sensible strategy, and were the Prince to lose his other assets and incomes in uncertain times, it would be a consolation to still receive a safe income of £5,500 per annum.

In any case, the market value of such a pension is roughly £200,000 at present annuity rates, yet the voluntary contributions needed to qualify are a tiny fraction of that sum. Had the Prince's advisers not included this asset in his portfolio, they would have been pathologically negligent.

Only a fool ignores the value of the state pension.

Warmest regards,
FA

JezR

ISTR that The Queen used to get Family Allowance (as was) for her children. At the time it was used as an illustration that it was something everyone received, when universal benefits of this kind were considered the done thing.

Somehow I can't see him following his relation Olav V and using a freedom card to travel on a tram.