The Nice People Thread, No.16: A Universe of Niceness.

antrobus

LydiaJ wrote: »

...

Not that I'm complaining, or anything, but how come I can get the full amount by paying in for only 35 years despite having all that COPE????

And if I get COPE of £23.05 for spending almost my entire life contracted out, then wouldn't PN have an absolutely trivial COPE deduction for having been contracted out for a few months only???

COPE is the contracted out pension equivalent.

It's only the govts best guess as to what pension you will receive as a result of your contracted out contributions. It isn't a deduction or an addition, it's information.

PasturesNew

michaels wrote: »

PN, you are the ideal candidate for the pay 2880 into a pension every year and take out 3600 because the govt gives you 720. That is £720 pa of free money that you should be getting - if you aren't then please ask someone to help you with this.

You said that before.
You started a thread on the pensions board to ask about how to do it.
It was hard/confusing and they squabbled and couldn't agree.
https://forums.moneysavingexpert.com/discussion/5226030

"Ask someone". A skill I don't have.

Pyxis

SingleSue wrote: »

I'm being a massive proud mum this morning. Joe just got the result back from a programming assignment that caused him so much angst and loss of sleep and which he was expecting to barely scrape a pass.

He got 94%!

It was an absolute dog of an assignment for him, things went wrong and in an effort to sort it at one stage went 60 hours straight without sleep as he reworked the code to get it working as it should (plus include some AI).

The feedback has several mentions of the words exceptional and excellent and they were particularly impressed with his additions over and above the brief.

This is all the more amazing (well to us anyway, others may not be as impressed), as this was a completely new language to him and one he knew nothing about until about October.

Yey! Go that Joe! :T :T :T

That's absolutely brill, Sue!

Have a good bask in the glory.............. you made it happen, anyway!

michaels

PasturesNew wrote: »

You said that before.
You started a thread on the pensions board to ask about how to do it.
It was hard/confusing and they squabbled and couldn't agree.
https://forums.moneysavingexpert.com/discussion/5226030

"Ask someone". A skill I don't have.

25 page thread here:
https://forums.moneysavingexpert.com/discussion/5580163

tldr seemed to be that virgin were the people to go with for someone who is 55 or over and just wants to round trip the money or possibly Cavendish or Hargreaves Lansdown if they are not yet 55.

PasturesNew

michaels wrote: »

....

So what is the process? You open some account or other, or something, then give them money ... then what? Wait, ask? Phone, do something online?

What are the mechanics?

LydiaJ

GDB2222 wrote: »

The short version of how the State pension works is that you get the maximum pension of £159.55 if you have 35 years' contributions. However, the COPE amount gets knocked off that

antrobus wrote: »

It's only the govts best guess as to what pension you will receive as a result of your contracted out contributions. It isn't a deduction or an addition, it's information.

:huh:
Confused now. Perhaps the two of you could iron out your differences and let us know your conclusions once you've reached agreement??

PasturesNew wrote: »

"Ask someone". A skill I don't have.

Perhaps michaels himself would be happy to talk you through it. Would that work for you?

LydiaJ

Parents' evening season.
DS last Thursday, DD tonight, DD's options information evening next Thursday, my Y11 class next Friday.

michaels

Just submitted dd1s on line. It is such a minefield for the parent, want choices that will give her as many options as possible but no point choosing ones she won't like or even just thinks have been foistered on her as that will be taken as a reason jot to try, also her choices now seem to be the opposite of what she stated at the start of the process.

Only certainty is that whatever she has chosen will be
a) wrong and
b) my fault

It is almost like having another dw.

antrobus

LydiaJ wrote: »

:huh:
Confused now. Perhaps the two of you could iron out your differences and let us know your conclusions once you've reached agreement??...

All I would say is that my COPE hasn't been knocked off my New State Pension amount. Perhaps I'm just lucky?

antrobus

Or this might make it clearer. Perhaps I wasn't a 100% right.

http://www.unitetheunion.org/unite-at-work/pensions/new-state-pension---for-those-previously-contracted-out/

I think the principle is that you couldn't contract out of the Basic State Pension, only SERPS. So the amount of SERPS as in additional state pension you get, is reduced by COPE. In my case, I don't get anything from SERPS, so the the deduction is zero.

There might also be some transitional shenanigans. There usually is.