Multiple pensions into one Annuity?

LHW99

Marcon said:

tonyh66 said:

Yes we have both obtained SP forcasts, mine is saying it will be £179.60 p/w if I do 1 more year until 2032. I think the wife has a similar forcast. Moneyadviceservice is estimating fixed annunity of £630 p/m over 10 years (£450 over 15 years).

GOV also saying I have COPE of £25 p/w which is connected to one of the RL pensions, so i don't know how that will work?

It doesn't 'work'. The COPE is one of the most confusing  inventions in the history of pensions. It is used purely to assess the starting level of your pension where you fall under 'transitional' arrangements (i.e. from the old to the new state pension) and for no other purpose, and simply means that your total state pension has been reduced to take account of periods when you were 'contracted out' of the state additional pension. 

BiB - I think to be pedantic, it means that your pension was reduced as at April 2016, and then going forward in time, as long as you are earning at a sufficient level, and still under SPA, you earn more for each year's NI you pay. If it says you will get £179.60 after one more year, you will get it, COPE will no longer cause a reduction in SP and it would have no effect on the other private pensions.

mark55man

If you are being made redundant in December, then this year will presumably be your extra year as unless you are earning near the minimum you should have paid enough by then.  If not it will cost about £800 to by another year entitlement at some point before you reach state pension age.

good luck with your plans

SomeMadeUpName

tonyh66 said:

Yes we have both obtained SP forcasts, mine is saying it will be £179.60 p/w if I do 1 more year until 2032. I think the wife has a similar forcast. Moneyadviceservice is estimating fixed annunity of £630 p/m over 10 years (£450 over 15 years).

GOV also saying I have COPE of £25 p/w which is connected to one of the RL pensions, so i don't know how that will work?

@tonyh66
Once you do move to France, if you still need years to qualify for full SP then you will (as an expat) qualify to pay voluntary class2 instead of class? (not sure what the regular one's number is).  Class2 is only circa 20% of the regular voluntary cost so well worth the saving.

SomeMadeUpName

Pretty sure some pensions from state run organisations don't get taxed in France either. Police I think is one, teachers too.  Not sure about NHS (as there isn't one in France in the same sense) but something you could look at and see if it factors into your future income planning.