How long before I receive deferred SP?

edited 30 November -1 at 1:00AM in Pensions, Annuities & Retirement Planning
62 replies 10.6K views
24567

Replies

  • LXdaddyLXdaddy Forumite
    693 Posts
    Sixth Anniversary Combo Breaker
    ✭✭
    uk1 wrote: »
    I am so old, I remember when they upgraded the 360 from 8k to 16k and we all wondered what we'd do with all that extra power! And when the first 10mb hard drive replaced the floppy, and we all wondered what anyone would use 10mb of storage for! :D

    The thrill of the ZX80 ... :T

    Nostalgia ain't wot it woz!

    :)

    Jeff
    Ha - I remember when floppy disks were floppy.


    I remember when computers were things in air-conditioned rooms behind locked doors.


    I remember when you did desk checking of program code before submitting it for punching onto paper tape and "editing" sometimes involved splicing paper streams together.


    I remember when results were printed on green bar paper. And I know there are 10 characters per inch and the you can have either 6 or 8 lines per inch.


    And yes spreadsheets were actually sheets of paper with columns for recording money under different headings (ruled for pounds, shillings and pence of course)


    I can even remember our first use of a "dial up" service where for better response we used two terminals, one for input, the other for output and we had to use the keyboard on one terminal and see the results on the screen on the neighbouring terminal.


    I can't remember "livin' int' cardboard box" though :)


    Yes - you can't get nostalgia like you used to.
  • mjmal51mjmal51 Forumite
    581 Posts
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    ✭✭
    anmarj wrote: »
    It does, but the deferral part has to go to a specialist team to get the calculation done


    I phoned them a few weeks ago and asked about taking my deferred (for 2 years) on December 15th this year. He asked me to hold for a few minutes, spoke to a supervisor then came back with the figures for the SP + the deferred amount and this corresponded with my calculation.
    So I am not too sure what the problem would be. He said that if I give them a couple of months notice then that is the weekly pension I would receive.
  • atushatush Forumite
    18.6K Posts
    Part of the Furniture 10,000 Posts
    ✭✭✭✭✭
    LXdaddy wrote: »
    Ha - I remember when floppy disks were floppy.


    I remember when computers were things in air-conditioned rooms behind locked doors.


    I remember when you did desk checking of program code before submitting it for punching onto paper tape and "editing" sometimes involved splicing paper streams together.


    I remember when results were printed on green bar paper. And I know there are 10 characters per inch and the you can have either 6 or 8 lines per inch.


    And yes spreadsheets were actually sheets of paper with columns for recording money under different headings (ruled for pounds, shillings and pence of course)


    I can even remember our first use of a "dial up" service where for better response we used two terminals, one for input, the other for output and we had to use the keyboard on one terminal and see the results on the screen on the neighbouring terminal.


    I can't remember "livin' int' cardboard box" though :)


    Yes - you can't get nostalgia like you used to.

    At work in the labs of the national institutes of health in the USA, we used an IBM 370 mainframe lol. With little terminals and MS DOS.
  • uk1uk1 Forumite
    1.4K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭
    atush wrote: »
    At work in the labs of the national institutes of health in the USA, we used an IBM 370 mainframe lol. With little terminals and MS DOS.


    oh dear. Our original bureau service was ran on a 360. I will never forget the surprise of discovering the 370 model model 168 was plumbed in to keep it cool.
  • luvchocolateluvchocolate Forumite
    2.7K Posts
    Ninth Anniversary 1,000 Posts Name Dropper Home Insurance Hacker!
    ✭✭✭✭
    to get back on track.....mj 51 I also called them and he gave me a quote for mine which is also deferred for 2 yrs and as yours it was spot on with my calculations, seems strange to have to wait.
    any ideas how much notice they need to start paying? I am looking to start beg on Oct.
  • mjmal51mjmal51 Forumite
    581 Posts
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    ✭✭
    to get back on track.....mj 51 I also called them and he gave me a quote for mine which is also deferred for 2 yrs and as yours it was spot on with my calculations, seems strange to have to wait.
    any ideas how much notice they need to start paying? I am looking to start beg on Oct.


    Think they said that 8 weeks would be plenty of notice to give them. I am sure that if you do this (or maybe slightly longer) then you will receive the full amount due.
  • edited 4 July 2016 at 9:44PM
    BelindaDidoBelindaDido Forumite
    28 Posts
    Part of the Furniture Combo Breaker
    edited 4 July 2016 at 9:44PM
    I am in a similar position, just starting to receive my SP after deferral of 3 years (following payment for 2.5 years).

    On 03/04/2016 I phoned and gave DWP 4 weeks' notice of the date when I wanted my pension to be paid (claiming from 30/04/2016, first payment 06/05/2016); I requested weekly payments as the 4-week 'month' I originally experienced made budgeting awkward. I had hoped that the 'Choices' letter would arrive promptly and that with an immediate response from me the correct/updated weekly payment, including the Extra State Pension re the deferral, would be paid from the outset. However, I was told that the Choices letter wouldn't be sent until 15 working days after the start of the claim date (30/04/2016).

    The Choices letter did not arrive within the 15 working days so on 26/05/2016 I phoned for an update. I was told that the Choices letter had been issued on 29/04/2016 and that I could either request a copy to be sent by post (which would take up to 2 weeks to arrive) or I could speak to someone. I asked to be put through to the relevant department. The person I was transferred to checked and said that the calculation hadn't even been started, but she would send an email to hurry things along. I then received my Choices letter, dated 27/05/2016, on 31/05/2016.

    One of the options in the Choices letter is to phone through your choice. I did this on 31/05/2016 but the weekly payment has not yet been increased nor have the backdated arrears been paid. I was told that this would take 2-3 weeks so I'm hoping that my next payment (due on 24/06/2016) will be at the new rate, but I'm putting a note in my diary to make a phone call, just in case!
  • mjmal51mjmal51 Forumite
    581 Posts
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    ✭✭
    I am in a similar position, just starting to receive my SP after deferral of 3 years (following payment for 2.5 years).

    On 03/04/2016 I phoned and gave DWP 4 weeks' notice of the date when I wanted my pension to be paid


    I think this experience shows that it is best to give a minimum 8 weeks notice in order to receive the full SP + deferred amount.
    In my case I will probably give 12 weeks notice as I know the exact date I wish payment to start.
  • wolvwolv Forumite
    3 Posts
    It doesn't make that much difference how much notice you give as the deferral process starts from either the date you claim your State Pension from or the date you made the claim, whichever is later. Generally speaking your looking at 2 months after the date you claim from before any deferral payment is in your bank account. The specialist team who deals with your deferral usually has 15 working days after the date you chose to claim your State Pension from (or date you made the claim-whichever is later) before sending a deferral choices letter. So say you rung in April to claim from 4th July 2016, the specialist team would have upto the 22nd July 2016 before sending any letter from the office, your looking then at another 3-5 working days before receiving the letter so call it the 29th July before receiving a letter. You can either fill in the letter or ring the Pension Service 0800 7317898 - option 1, giving your deferral decision (bare in mind, if you want the lump sum, you will need to tell the Pension Service what tax bracket you come under and what tax year you would like the lump sum paid in - your given two choices regarding the tax year - for this example you would be offered to take it in either the 16/17 tax year or the 17/18 tax year). After the Pension Service have received your deferral decision either via phone or letter, the specialist team then has another 15 working days before issuing the deferral payment, once the payment has been issued from The Pension Service it will then take another 3-5 working days before payment shows up in your bank account. So say you rung the Pension Service on 1st August to give your deferral decision, that would mean the specialist team has up to 19th August before issuing the deferral payment and then add another 5 working days onto that before getting it in your bank account so you would receive it roughly 25/26th August which is I believe a week short of 2 months. At the moment there is a huge backlog of State Pension Online work and every other bit of work for that matter which in turn is generating a large amount of calls. Because of these calls the specialists are then pulled from working on deferrals to answer the calls which then makes the deferrals behind target which generates even more calls from people chasing their deferrals. The example I have given you could say is a best case scenario at the moment as I have seen people wait 3/4 months before receiving any deferral payment just due to the delay in them receiving the choices letter. The only real advantage of doing your claim 8-12 weeks in advance is to give The Pension Service enough time to resolve any problems with your National Insurance Record. By this I don't mean that your record may not be upto date but there are some technical problems (mainly to due with the HMRC system) that could prevent your claim being finalised before the date you have chosen to claim from. As for any forecasts you get from the Pension Service the esp (extra state pension) side of the forecast is not going to be that accurate as recently the Pension Service has been told to use the rate of SP that was appropriate to you when you reached State Pension Age instead of using your current State Pension figure. So if you have been deferring since July 2010 then we would be using the 2010 rate to work out your extra state pension instead of the 2016 (current) rate to get a more accurate figure. Of course this only applies to forecasts, the exact figures will always be on the choices letter, unless someone has made a mistake. The 15 working day target I was talking about earlier apparently used to be a target for the specialist team but The Pension Service management have now amended this from a target to a guidline so don't hold your breath getting your choices letter on time. The Pension Service is in a pretty bad state at the moment in terms of workload and staff to complete the work with no immediate signs of this improving just to give you a heads up.
  • BelindaDidoBelindaDido Forumite
    28 Posts
    Part of the Furniture Combo Breaker
    This is what I suspected: regardless of the amount of notice you give them, the next stage doesn't come into operation until the first payment has been made so it appears that it's impossible to get the full amount paid from the outset.
This discussion has been closed.
Latest MSE News and Guides

PCR tests to end for fully vaccinated

Travellers returning to England in Oct

MSE News

Free Homebuilding & Renovating Show tix

London, Harrogate & Shepton Mallet

MSE Deals