Are pensions capital?

r_i_c

atush wrote: »

Have you contacted age concern? Asked a solicitor for a free appt? A solicitor fees could be well spent here if you face intransigence.

The local solicitor is friendly, that is an option thanks.

bigadaj

r_i_c wrote: »

Thanks, I have to go JSA(C) if I can't find employment because I can't live on nothing - the carer's allowance is slightly better than nothing and I am grateful for it.

One burning point though. I have been offline 9 hours due to my Internet Provider and I hear the government is now sanctioning claimants if they do not accomplish various online tasks. What happens when you are faced with the IP going down - it sounds like you'd get sanctioned first + ask questions later? Not good. Anyway, I will cross that bridge when I come to it.

11 hours yesterday completing probate / tax paperwork, am exhausted. At least it will arrive where it needs to be by Monday though.

Not my experience but that was over a year ago now so things could be changing. The purpose is obviously to separate those genuinely looking for work from those who just claim and don't really want to work, so long as you demonstrate reasonable efforts, and document job applications, searches, interviews and other types of effort then it's unlikely you will be sanctioned, and not for a few hours of not searching, it would typically be reviewed on a. Fortnightly basis.

r_i_c

Thanks, I guess it's just butterflies really, stepping from the known into the unknown. Probably feel better when I get on with it, only a week to go now until I begin the claim procedure if nothing comes up inbetween times. That's another reason why I had to get those probate forms off, the prospect of dealing with two tiers of forms at the same time was not something I was looking forward to - hopefully the probate paperwork will take care of itself now - and now I wait.

r_i_c

jamesd wrote: »

Thanks, yes. Once you know more I or someone else can update the income planning. Hopefully you'll find some interesting local job that pays decently as well, particularly if the current income plan isn't as much as you'd like.

Hi,

It's a week overdue but I finally received my State Pension estimate in the post today. It tells me my State Pension would be £133.56 a week but that the full pension is £151.25 a week - so I must be missing some National Insurance Contributions (NICs)?

Can I 'buy' the missing NICs please?

Thanks.

xylophone

As you were in the TPS , you'll have a contracted out deduction from the state pension.

See below regarding the COD and building further qualifying years.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/210299/single-tier-valuation-contracting-out.pdf

r_i_c

xylophone wrote: »

As you were in the TPS , you'll have a contracted out deduction from the state pension.

See below regarding the COD and building further qualifying years.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/210299/single-tier-valuation-contracting-out.pdf

Thanks & sorry I am slow - I cannot see TPS or COD mentioned at the link. Please advise.

xylophone

The Teachers' Pension Scheme was contracted out of SERPS/S2P.

People who were contracted out of these additions to the basic state pension are subject to a Contracted Out Deduction.

http://www.which.co.uk/money/retirement/guides/contracting-out-of-state-second-pension-s2p/what-contracting-out-means/

The link https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/210299/single-tier-valuation-contracting-out.pdf explains the COD in New State Pension.

The example given is of a man who is almost exactly your age so should help.

xylophone

And see also https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/181237/single-tier-pension-fact-sheet.pdf

r_i_c

xylophone wrote: »

And see also https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/181237/single-tier-pension-fact-sheet.pdf

Okay, so Westminster City Council contracted out of - additions to the Basic State Pension.

Then, am I missing any contributions or am I fully up to date please?

Is there anything to do, that could be done with regard to my Basic State Pension that I have not done? I was hoping the government statement which I have been waiting so long for, would be a lot more informative and helpful than it is - I mean - am I eligible to improve my State Pension or is it set to be what it will be at 67 whatever I do, and will I harm my Basic State Pension if no more NICs are now added to it?

Thanks again.

atush

How many years Nics do you have (should say on t he form)?

You'll need 35 years for the basic part of the SP (116 a week?) and the rest will be S2P and serps. So the min you will get in the new system is 133.56 a week, and if you work or claim benefits after april 2016, you will add more pension (just over 4 quid per week) until you get up to the full rate.

There will also be the possibility of buying more SP for a sum, but I dont know what the rate will be.