14 years I feel Ive wasted,not sure how to cope

annandale

Even 10 quid a month into a private pension plan would be something extra in 10 years time.

my-user-name

annandale wrote: »

Even 10 quid a month into a private pension plan would be something extra in 10 years time.

So long as it stays at £10 a month I could manage that,it would be up by the time I reach 70 if I start it now.70? oh that's old

gallygirl

I get a forecast from the civil service every year MUN - have you asked them to put it in writing and send you literature?

BTW he sounds like an emotional !!!!wit - I know that will be filtered out but feels good to write it

my-user-name

gallygirl wrote: »

I get a forecast from the civil service every year MUN - have you asked them to put it in writing and send you literature?

BTW he sounds like an emotional !!!!wit - I know that will be filtered out but feels good to write it

Yes I did gallygirl,I will dig it out (been decorating and paperwork is all over the place and not sorted out yet) it was low just like they said on the phone.
Ive got a good idea where it is in my home and will have another good look at it.
Its good to swear isn't it lol

LannieDuck

my-user-name wrote: »

This is what I found on the CLASSIC PLUS website.
Getting your pension The pension payroll provider pays pensions to Civil Service pensioners and to civil servants’ dependants, where appropriate. You will receive an annual pension and a oneoff lump sum. The pension payroll provider will pay your lump sum direct to either your bank or building society account, whichever you indicate on your Personal Details Form. The provider will pay your pension every month in arrears, directly into your bank or building society account. Your pension will be treated as earned income for tax purposes; any tax that is due is taken off before the pension is paid.

We work out your pension in two parts. You earn 1/80 of your final pensionable earnings for each year of reckonable service in the scheme before 1 October 2002 and 1/60 of your final pensionable earnings for every year of reckonable service in the scheme from 1 October 2002. Pension at scheme pension age (60) Example Lloyd retires after 30 years’ service of which 20 years were in classic (before 1 October 2002) and 10 years were in premium (from 1 October 2002). Lloyd’s final pensionable earnings are £20,000 a year. Pension Lloyd’s pension is made up of two elements, worked out as follows: classic service (1/80 x 20) x £20,000 = £5,000 premium service (1/60 x 10) x £20,000 = £3,333.32 Total = £8,333.32 Automatic lump sum Lloyd will get an automatic lump sum relating to his classic service of 3/80 x 20 x £20,000 = £15,000. (This will be tax free, subject to the Lifetime Allowance.) Please note that the lump sum will be reduced if you owe some scheme contributions.

Does this actually mean I will be getting a lump sum and pension on the classic plus scheme??the phone calls said I wouldn't get a lump sum,only a pension.

I saw that example earlier - I think it's someone who has part of their pension in the so called 'classic' scheme, and part in the 'premium' scheme. The lump sum only comes from the 'classic' scheme (I think it's defined as anything saved pre-2002). I seem to remember that somewhere in the literature it said you could transfer from the classic to the classic plus, and you'd be credited in the 'premium' section. (Please note that I only skim-read the documents.)

So if you transferred your pension from one to the other, you may be only in the premium section.

There must be somewhere you can get a statement of your account. Under 'how to obtain an estimate of my pension for divorce proceedings' (on this page: http://www.civilservicepensionscheme.org.uk/members/active/active-faqs/) it leads here:

http://www.civilservicepensionscheme.org.uk/contact-us/

Have you tried those details already? Otherwise ask on the pensions board.

Pollycat

my-user-name wrote: »

The person that he is now is nothing like the one I spent 14 years with,I cant believe how much he has changed in such a short time.To be honest its like hes so angry with me and when I say angry I mean really angry,all I can say is its like he actually hates me....but why??? I cocked up good style on my pension and yes I was stupid to listen to the man in a suit but theres nothing I can do about it.:(

He's angry because he thought he'd have a comfortable time when you got your retirement money.
Read that as 'no change there'.
He always had an eye for the (your) money.
You just didn't realise it at the time.

You - and we - don't know if you've 'cocked up good style' on your pension.
I really do urge you to post relevant details on the Pensions board.

my-user-name

Pollycat wrote: »

He's angry because he thought he'd have a comfortable time when you got your retirement money.
Read that as 'no change there'.
He always had an eye for the (your) money.
You just didn't realise it at the time.

You - and we - don't know if you've 'cocked up good style' on your pension.
I really do urge you to post relevant details on the Pensions board.

As soon as I find the paperwork that they sent me I will join the Pensions board and hopefully they may be able to help in some way Pollycat. I,ll definatly be on the board by this time tomorrow.

Pollycat

my-user-name wrote: »

As soon as I find the paperwork that they sent me I will join the Pensions board and hopefully they may be able to help in some way Pollycat. I,ll definatly be on the board by this time tomorrow.

That's good.
Better to find out as much as you can now.

I didn't realise you had a deferred CS pension, I assumed you were still working for the Civil Service.

Re your state pension age - I'm afraid it will be 66 not 65.

my-user-name

Pollycat wrote: »

That's good.
Better to find out as much as you can now.

I didn't realise you had a deferred CS pension, I assumed you were still working for the Civil Service.

Re your state pension age - I'm afraid it will be 66 not 65.

Finally found my paperwork Pollycat and started a thread in the Pensions forum board page.
The lump sum is lower than I said,hells bells

And I will be 66 when I get my oap pension???? another hells bells

spirit

my-user-name wrote: »

Finally found my paperwork Pollycat and started a thread in the Pensions forum board page.
The lump sum is lower than I said,hells bells

And I will be 66 when I get my oap pension???? another hells bells

I'm the same age as you MUN and so my SPA is also 66. I'm kinda hoping that my employers might offer me either early retirement or redundancy long before then.

I worked somewhere for about 7 years in the late 70s early 80s and had a pension with them. Because I'd moved a few times since then, I'd forgotten all about it. Then I contacted them recently with my new address. So, I will be getting a nice lump sum from that at the end of this month. That'll go in the savings pot for now.