Shortly to become a "pensioner"

lisa110rry

Hello, I become 60 this month and have a small council lump sum and pension which I have chosen to take from my birthday rather than deferring. Can anyone explain to me how/when I will receive this? Not actually on my birthday I presume, but rather on some pre-decided day each month?

I can't get to grips with the idea of all this, but it will come in handy if the lump sum is paid this month.

Ganga

The first thing you need to do is contact the pension providers and inform them that youwill be retiring,they will probably send you out a lot of forms to fill in and return.I can only give you my experiance but from contacting my private pension supplier 02/03/16 i received my pension lump sum 05/05/16,hope yours goes thru faster.

lisa110rry

Thanks Ganga, I've already completed all the forms and so on and returned them. Really hope they are quicker for me than they were for you as I don't really want to use all my savings on some house works, I do like to keep a cushion of immediately available funds.

greenglide

small council lump sum and pension which I have chose to take from my birthday rather than deferring.

So have you told the pension people at you local authority of this?

Was your service in LGPS some time ago when their normal pension age was 60 as it is now 65 or later.

The pay monthly, in arrears. My authority pays on the last day of the month.

AnotherJoe

lisa110rry wrote: »

Hello, I become 60 this month and have a small council lump sum and pension which I have chosen to take from my birthday rather than deferring. Can anyone explain to me how/when I will receive this?

Yes, the pension provider can. You will need to contact them. No one here can possibly know.

lisa110rry

greenglide wrote: »

So have you told the pension people at you local authority of this?

Was your service in LGPS some time ago when their normal pension age was 60 as it is now 65 or later.

The pay monthly, in arrears. My authority pays on the last day of the month.

Thanks GG, the "your pension service" people for Lancashire CC have written to me with the choices "to receive payment from [birthday] 2016" or "to receive payment from 04/01/2018" and I have chosen the former and written back to them confirming same. As it was from 1992 to 1997, it would have been when I became 60 back then, now 61 and a half but I can choose to be paid slightly less from my 60th birthday. I've done the calculations and it's not worth waiting.

From what you say above, my guess is that they will start paying at the end of this month. It's a curious feeling, being paid a pension, even though it is so small. I still feel young!

OldBeanz

You are very lucky then, many women born in the 1950's are barely able to work. Enjoy your pension while you can.

lisa110rry

Gosh really OldBeanz? I did go through a twelve week period in 2014 when I was not allowed to place my foot on the ground after it was re-built, but I exchanged my office chair for a wheelchair and got on with it. Bought a second-hand mobility scooter to be able to continue walking my dog and now I can walk again, no crutches, no sticks!!!!!!!

A few weeks ago, my boss pooh-poohed the idea of me retiring, saying I'd be here in 20 years! I kind of like that idea (part time), it really keeps my mind acute.

greenglide

many women born in the 1950's are barely able to work

Sarcasm aimed at WASPI maybe?

A smiley, at least, was needed.

lisa110rry

Ahhh...sorry I was being obtuse!

bigadaj

lisa110rry wrote: »

Ahhh...sorry I was being obtuse!

Don't apologise, that was old beanz fault not yours.