I have a couple of questions. I started getting my pension on May 2023. 4 months after I got a form to fill in, a life certificate form and if I did not get this signed and stamped by an official ie. Doctor, Lawyer, priest or bank manager within 16 weeks, I would lose my pension. I get a part pension from the UK (21 years) as I moved to Denmark in 1994 and I also get a part pension in Denmark (29 years). Do I have to get this form filled in and could they stop my pension? I am not married but I have a Danish girlfriend and two daughters. If I passed, would I have to be married to my girlfriend for her and my kids to claim my pension? @@PrinciplesPersonalFinance
I have two pensions. I would much rather have had a Roth 401k throughout my working lifetime. $500/month invested from 25 - 65 at 9% is $2.3mil. I hate my job but can't leave because of I won't get my state pension. What do you think about doing a 70/30 stocks bond ratio?
I would avoid the index funds, mutual funds, or specific stocks for the time being. 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows signs of recovery
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.
Generally speaking, a good number of people discredit the effectiveness of financial advisor in planning for retirement, For over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
*Gertrude Margaret Quinto* is the licensed advisor I use. Just search the name. You’d find her webpage and necessary details to work with to set up an appointment.
I qualify for full pension, having 45+ years NI contributions. However, someone who hasn't worked a day in his life gets a flat rate pension. He though can claim pension credits (which I cannot) and also gets free council tax (which I do not), which means he is better off than me. How on earth is this fair?
Would have been nice if a similar line of equity had been employed for WASPI women. In a fair world, lawyers engaged with migrancy matters would be engaged on this.Fishy
I too have worked all my Life and paid 43 years NI. And I agree Everyone who has worked and Paid into NI should get more income than someone who has not worked or paid NI ( excludes GENUINE DISABLED) vote for my New Party The Pensioners Party, and If elected. We will Make sure that we get a proper pension and other Benefits, we are entitled to plus Pensioners who have paid over 35years NI will be Guaranteed NHS Dental Care etc. I will be Standing at the next Wyre District Election. Come on VOTE The Pensioners Party !
A relative of mine has not worjed one fullday in their life, the partners has not worked 2 full years either, both will get the full pension. Who says idleness does not pay? They are NOT disabled.
In 2007 jobcentre told me I didn't need to sign on for national insurance credits as I had more than enough national insurance credits for my new state pension in2017 I get about £30 a week less than the new state pension because I was contacted out.
I accessed mine on line through the HMRC website, printed it off, checked it and then discussed it with them. You have to have an account with them, which I already had, but it’s easy to set one up and it’s invaluable to check on your tax and contributions.
I claimed my state pension when I hit 66. At that point I only had 25 years of contributions. I just received a letter asking me if I wdnted to pay a year of voluntary contributions. Can I still pay this even though i have been getting the state pension since March 2023. Someone told me I could defer my pension even though I clsiming it. Any information gratefully received. Thank you
I'm a contracted out pensioner and i'm recovering next to nothing can you please let me know if I'm been scammed I need what can do about this matter and will I ever be compansated for my correct payments
excellent information I deferred my pension but now pay tax on the amount above £12500 but they do not send any details or statement of tax paid. I don't any government department as most are full of incompetent people how can you check if figures are correct.
As you just mentioned about contracting out I was told that all jobs with the health service could servants and social workers paid a lower rate than everyone else from 1978 until 2016 . So this is why I was penalised from having the full pension. I worked from 18 until Iwas 55 and left with a disability. I was then on ESA until 2016. I rang HMRC and they stated there were gaps in my NI contributions , which I found out that DWP never gave me any credits for the four years I was in ESA This is now is now in the hands of the pension service and has yet failed to contact me. So will wait if and see if DWP will rectify this
If the tax trigger point is £12,500 for workers why is my tax trigger point £10,800 tthen l pay tax. On top of basic state pension l get £ 278 a month and pay £37.40 tax. Does anyone know how that works?
I still don’t understand this Cope amount. If I’ve got a Cope of £22 pounds a week, do I take that away from my £203 a week pension estimate to get my actual figure?
Hi, thank you for a very informative video. Do you know if claiming carers addition to pension credit will effect the Guaranteed pension credit? My elderly family gets free dentist and need regular care but they are worried if they will lose the guaranteed part of pension credit as they do care for another disabled person.
I'm still waiting on my £7000 i was under paid from 2014 until it was announced in November 2019 the last time i spoke to anyone they're doing it Alphabetically and Covid & Lockdowns are causing delays, but they will get to me eventually, i get the impression they're hoping most of us Peg it before having to pay it out to us.
I have a State Pension but dont get the full amount (maybe was 50% but now less, and reducing) as I wasn't able to top up. I now live in Brazil and not getting cost of living increments. I think this is absurd .... inflation in UK is lower than in Brazil. I am, without any other sources of income, stuffed!
Because of the changes in 2016 i lost out on £2563 a year or £49.30 aweek funny they changed just as baby boomers started to retire because of an army pension can't claim housing benefit council tax reduction
State Pension is a real niche topic on YT or in media generally. Great set of points presented clearly at the level intended. Further digging may be required but many thanks for the info!
Thanks Pete, appreciate the kinds words! Is always great to hear as when I'm doing these things as you say, this is both quite niche and also pretty complex. Tough one to get across well. Cheers for watching and taking the time to comment! 🙌
As expats we pay for glasses and teeth and both are expensive i mean over 100 for specs out of our joint pension of 800:for the month is allot and dentists charge 135 over extraction, everything else goes up to thousands. All,medically extras like neck supports arm brace crutches wheelchairs are bought by thr patient, also a lot of the medication is not free on prescription. Some pills i have to have cost 27.95 euros, others are 9 euRos andn6 for ten days supply
You think that’s expensive live in oz as ex pats dentist is free if you wait 3yrs same for a lot of surgery only option is private at 7g aussie a year for two lus you still get an extras bill as leave hospital my last trip cost me 4g on out of pockets without what my private cover paid
If you’ve made your full N.I. Contributions then you will get your full pension so making payments to fill gaps in past contribution payments does not give you any further benefit. The HMRC told me my gaps don’t matter I will still get the full state pension.
Six months early PIP decided to act against a first tier tribunal judge's decision to reinstate my severe disability benefits, halving what I receive and denied me the tribunal awarded higher rate Mobility. Ironically I'm now awaiting my fourth PIP tribunal hearing date in almost as many years, where I'm not confident it will be reinstated a fourth time. 😡
The various videos that provide information on this site are excellent. Very well delivered and should be mostly understood by the average individual in my opinion. Pensions can be a very complex subject to understand for those of us who don't do much more than contribute towards them, so very well done and thank you.
Thank you!! I really do appreciate the kind words and your support. Makes all the difference when doing the long edits, so thanks for taking the time to comment. 🙌🙌
My husband had a full state pension record and died 2 years ago at the age of 62. I have been trying to contact the tax dept and been going round and round as every time I ring the number stated on their website, it tells me I have to ring another number, so I ring that number and it tells me to ring the first number! 🤦🏼♀️ I started getting my state pension this June but I’ve heard nothing about getting any of my husbands. How do I investigate this please?
Write a letter to the pension service - you should have a leaflet with their address at the back of it. Try to explain as clearly as you can what you are writing to them for. Give them your and your husbands national insurance numbers. Never bother to ring them - its pointless
@@barbsdee3831 you're very welcome. You would get a letter and a leaflet every year when the new pension rate is calculated for the increase every April. If you dont have yours from when you got your first pension payments you can find the info online or if you are still stuck let me know. I have my leaflet - somewhere!
Your husband never had a pension plot. He was paying for the pensioners of the day, when you retire the workers of that period pay your pension through tax and NI contributions, sadly you have no claim!
Hi, Perhaps point out that if you retire before state pension age you still have to pay additional National Insurance for many years to get full NI credits at state pension age (66). At age 60 you may have worked for 42 years and at some point been contracted out by your employer. This will reduce your state pension and although you will have paid in thousands of pounds more over the 7 years it will not count for the 35 years state pension. You than have to pay more in if you want to build your state pension up. You will have paid in to the system over 42 years far more than someone who pays for 35 years and is not contracted out. Just another inverted injustice.
My circumstances are similar to your example. I am forecast to get full state pension. I seem to remember for contracted out years getting state pension plus about 50% S2P credit. So at least in theory would not take many extra years to compensate for lower S2P credit. Depends on how the government chose to do the calculation. Anyway I suspect the pension difference between contracted in/out is not as great as people might think.
For people that done a private pension they are not getting there state pension in full do you think this is right and fair we was told to do a private pension but now loosening out on full state pension
Ha ha. It would be unfair to those who didn't pay the full rate. The fact that large numbers of people don't pay ANYTHING into the system and yet still get a FULL pension, is of course, never mentioned.
@@rattylolyou must be one of those milking the system, type that use a blue badge but done have the disabled person with them and then claim care allowance.
The minimum is 35 years NI contributions for the new pension? I have 44 years NI contributions, retired last year but not getting the full new pension. I queried this asking for an explanation as to why I don't get the full amount, all I received back from them was a standard letter explaining how I can top it up with more contributions, not an explanation as to why I wasn't getting what I think I am entitled to.
I started drawing my pension in late April 2016. As I was 'on the cusp', I was told that I would be better on the old system. I wasn't happy with this as it was less than the quoted figure for the new system. Eventually, this was explained to me as being a result of being contracted out when I'd joined the company pension scheme about 14 years previously. I accepted this reduced figure until younger people I knew were getting quotes higher than me despite also being contracted out, so I did query this, but was told that it was correct. I'm still not convinced that I was better off being put on the old system. I am currently getting £146.66/week.
My age 71yr old I worked long hours for 50yr years on low pay because I worked for fifty years I get less of a government pension than someone who couldn't be bothered to get off their arse and get a job they get the rest made up on benefits Alec from Scotland
I have been living abroad for the last 8-9 years and I get my increase on my pension because it’s still paid into my uk bank account! If I get my pension paid into a bank account of the co7 try where I live I will not get any increases due to me! So leave your money in the uk bank and just transfers it yourself to your bank in the country where you live, there are schemes that help you they only charge £1 to send money to any country, this can be as much as £3000!
Self employed should pay a full stamp. All work done by these workers should require them giving a receipt for payment. Cash payments without a receipt being given should be a crime of fraud against the state.
My wife reach state pension age, last October. Because I was her carer, and younger, she couldn’t get any pension credit, or anything else. We only had, her state pension and my carers allowance, to live on. I wasn’t entitled to anything else, either. If we wasn’t living together, she would get pension credit, boosting her income. The benefits system, is complicated, and needs to be improved. I know people on benefits, who are living a good life, with more money, than someone working 40+ hours a week.
That must be incredibly difficult Gary. I agree that the benefit system is often complex and very tough to navigate. I wish you and your family the very best. George
The unfair bit is still paying full NI after you have reached the 35years max. I have done 42years, and I’m still working. That 7 years and conting NI money could be invested in another pension fund, instead the government will quite happily spend it on other things.
I still wonder whether being contracted out for some 14 years is correctly acknowledged given my second state pension is literally a few pounds a week, this despite paying 40% income tax for well over 30 years. I've asked the DWP but never heard back from them and perhaps your presentation is a timely reminder to ask again!
Hi BC you should be receiving a second pension from the company you were pensioned out to. Contact HMRC or email them and ask if they can help you who to contact about your pensioned out amount. They helped my husband who was also pensioned out. The company gave him a back dated lump sum and £384 every four weeks for life. So don't delay if you need more help contact Age Concern who will advise you. All the best.
Hi, tough for me to say as it depends on what happened in relation to your employment position at the time. By contracting out a pension, both you and your employer will pay lower, reduced-rate National Insurance contributions. When you retire, your second pension will come from your employer's scheme and not from the additional state pension. Therefore, whether you were contracted out for the period of disability, I can imagine would depend on what happened with your employment during that period. You mentioned paying full NI whilst working but were on disability so it would depend on whether contracting out happened for you during that time. Sorry, i can't be more help here. It's a very specific question and would depend entirely on what happened during the period of employment and disability.
Great video can you tell me is this is right should I get full pension if I have 50 years national insurance contributions .I am 70 in May .I have 39 year and a few months contract in and 10 years and few months contracted out.I get £157.94 state pension . If you get full pension with 35 years why do I lose money for doing 15 years more thank mr C Nuttall
Thanks for watching and your support 🙌 It's all to do with the calculation that was done when they worked out the foundation amount when the State Pension Systems changed in 2016. There is a better overview below which is something that I can't really go into full detail on a RU-vid comment section for, but this should provide some guidance: www.dailymail.co.uk/money/pensions/article-11735955/State-pension-docked-20-week-contracted-happening.html It was POTENTIALLY possible for some to accrue further years for those who had been contracted out. To know for sure for you specifically, it's something you would have to check your record for and enquire further with The Pension Service to confirm.
Anyone who thinks current 20 and 30 year old will get a state pension better think again. Its slowly being replaced by private company ones. The downward trend in NI and the ramp up in company contributions dictated by the government is a very very big clue. In 10 to 20 years I also put money on the NHS following the US model of health insurance.
I was forced by an employer to opt out for about a year, and I am now getting paid less than my wife. I have 44 full years of entitlement and still getting shafted by this government
This was set up for working people for there retirement what year was that? What I like to Know how much interest this agency was getting at that time. over the years and was it wise investment for all the years to present.
HI DO YOU KNOW ANYTHING ABOUT WHEN UK SAYS A COUNTRY IS FROZEN THEY CAN TAKE MONEY 175 POUNDS OF YOUR STATE PENSION ?? IT SOUNDS LIKE STARE ROBBERY TO ME, VAN YOU HELP ?? CHEERS
What ever happened to all the contributions made by working people who died before reaching pensionable age? There must be billions of pounds in a slush fund somewhere held in perpetuity by the state!
There is no pension pots. The workers of today pay the pensions for the pensioners now through tax and NI contributions. The next generation will pay yours. No money is accumulated anywhere!!
I contracted out for 13 years now this is the joker in the pack that ended up in ppf so it never go up like the state pension would there be any chance of claiming the difference as ppf is frozen
I didn't qualify for the full new state pension, even though the government changed the rules and made me a waspi. 7 years later I discovered a little know fact. I could claim credits for looking after my grandkids, whilst I was under pension age. I have now claimed and might get it back dated. 🤞
I understood around 18 words of that. Too much speed, too many numbers and texts on the screen. I am left knowing NOTHING...that you have just tried to put across. I came to this video to learn, and I learned nothing, but I achieved greater confusion than I knew when I arrived. You have a great speaking voice, but what is the rush? Is there a "older-person-friendly" version of this information? 🙁
Hi Ian, thanks for your feedback here. Always a tough balance to strike on RU-vid, sadly for everyone person who would like things to be delivered in a more measured way, there are many who would switch off which has a big impact on how many people the video goes out to and 'viewer retention.' I do however have a solution for you - if you want to give the video another try. At the bottom of the video player there is a 'CC' option which allows subtitles. If you click that on AND also go to the 'cog' which is the settings button again at the bottom of the player. The 2nd drop down says 'playback speed.' If you switch that to 0.75 it will slow down the speed of the playback and those 2 should make it much easier to review. Thanks for watching 👍
@@PrinciplesPersonalFinance Thanks, for that. Two great ideas, PPF...I'll try those. I'm sure they'll work. I've always had trouble understanting economics and financial matters. Cheers! 😀
@@anthonymcguire3618 I'm over pension age and I am currently celebrating 51 years with 7 psychiatric disorders, 4 of which wreck concentration, periodically, during most days. Add that to an existing problem (life-long) with absorbing details in economics and financial matters, and it's a prime candidate for partially explaining such trouble. Thank you, for your suggestion. 🤣
It’s mind boggling. I’m living on a very low basic state pension because I was a stay at home mom for a few years. I struggle and don’t know where to turn. We froze this winter, dreading the next.
Hi Maureen, that’s terrible to hear. If it is any use, I’d suggest checking if you are entitled to any additional help. The below are some resources that I’d suggest looking into as there are various options on how to get support. www.turn2us.org.uk/Your-Situation/I-can-t-heat-my-home www.turn2us.org.uk/ If you haven’t already. I’d strongly suggest checking your eligibility for pension credits 1️⃣ www.gov.uk/pension-credit 2️⃣ www.moneysavingexpert.com/sav... 3️⃣ www.nidirect.gov.uk/articles/... I wish you the very best. Take care.
Let's deal with the frozen pension problem. Your pension is only frozen if you tell the British authorities that you are permanently resident abroad. Now, how can anyone make that claim with a straight face? You have no idea what will happen in the future, so you don't have to say anything. You have your British bank account that your pension is paid into and an address for any letters that are sent to you. Then you can enjoy your extended stay in Venezuela... Let's be honest, the only people who claim permanent residency abroad are those who do not want to pay tax on their private pension. If all you have is the state pension then you are below the tax threshold, so relax.
I went in a Union recommended pension meant for Contractors by the GMB,Scottish Widows I get £3 a week because I opted out of SERPs the Government takes £17 a week which leaves me £3 so I have to pay Dental and everything plus I get nowt Council Tax money off the Government nowt.Proper kidded.Rubber boat boys quids in
pension credits basic guaranteed credit - so if you are claiming state pension and working and you receive less than£182.60 per week from work you can claim p. credit?
Thanks for watching, there are criteria that would be too long for me to summarise in a comment response but very broadly, yes. However, please see the below for full conditions as there are lots of areas which could change that due to someone's personal situation: www.gov.uk/pension-credit/eligibility
Hi I got my state pension in 2,00,7 I used to get double pension every Dec 1st Dec 31st it stopped in 2021 I have 10 years state pension how much do I qualify for in 2023
If you own your house and worked all your life you can’t get pension credit .I am a widow I have my state pension plus my husbands pension I am 76 , i checked with the DWP I wanted to know if I could get a free tv licence or pension credit the answer was no. I didn’t get widows pension either w by bother.
Back in 2004 it was announced that anyone under the age of 30 would not receive a state pension! Full stop end of, so this BS about the state pension and paying as we know its an empty box for anyone now under the age of 50
I moved to UK at 39 after paying 20 years of employment in an EU country, are these contributions lost forever or can I use them for my state pension in UK?? Has UK any agreement to recognize other countries contributions?
I worked 27 years in germany and I will get a pension when I reach pension age. I receive every year a letter from the DRV with my qualifying years, the amount of my pension and the amount for widow pension for husband when I deceased. If you worked in austria the procedere wil be the same. Most important thing, sort your papers and find the SV number and contact the state pension. Your contributions aren't lost...but you need to act asap. And yes the UK has agreements with EU countries.
@@beepositiveforever971 SV = Sozial Versicherung (social insurance...in germany, including unemployment insurance, pension insurance, health and care insurance).
There is one thing I can't get my head around. A disabled man gets extra money for his wife being his carer. (fair enough) Now his wife has become disabled herself, she is on the highest payment as she is genuinely ill and not likely to improve a lot, so she can now claim that her husband is her carer and get extra money.How can a person claiming to need a carer then be named as a carer for someone else? This is not a fraudulent claim, it is perfectly legal and widely used by husbands, and wifes, and partners, each claiming to be the others carer, yet not considered to be able to care for themselves. IS IT JUST ME?
That idea of,paying stamps to oncrease your pension is a farce, what thry are saying is pay in 500 andnget 500 nack at the end of the year. It should be we pay the weekly amount in bulk andnget ancorrespeondingly raise in our monthly pension otherwise its not help atall
What about women who have to take breaks to have kids, work part time around school hours and look after elderly parent, should they not get a pension then?
Hi Andy, thanks for these very informative video's. I have a question, currently I receive a pension from the UK. I left the UK at a young age but had accrued 7 years of paid national insurance. I came back to europe, and worked in spain for 3 years. When I applied for pension at the retirement age, the 3 spanish years were added to the 7 UK years and I am now receiving minimum pension. I have the opportunity to pay in 6 years of gaps, at an average of 840 pounds per year. How do I find out how much additional pension I will receive annually per gap year that I pay in?
Hi Danny, assuming it's in payment based on the fact you say you are receiving the minimum pension I'd suggest you contact The Pension Service to check your options for any voluntary payments. They will be able to tell you how much additional pension you would built up. They are quite busy right now so be prepared to wait. www.gov.uk/contact-pension-service
I reach state pension age in January 2024. My husband died in 2015. Will I get any of my deceased husbands state pension or national insurance contributions, forgive me if they’re the same thing I’m not sure. If the answer is, yes, I will receive part of my deceased husband, state pension, cannot be taken as a lump sum? Thank you. Take care
No, there is no pension pots, the workers of today pay for the pensioners now through tax and NI contributions, and the next generation will pay for the next pensioners. It's a cycle system!
Thanks for watching. If you follow the link in the description on this there is an option to select a form for the claim. There are notes when to apply for credits. It states they should be done in the tax year but if not, it appears it's down to HMRC discretion based on the below from the form: "If the time limit has passed still complete the application form giving the reason why you did not apply on time. If the circumstances are reasonable HMRC can still award the credits as long as you meet the transfer conditions. These are: • you reach State Pension age after the relevant period • the person registered for Child Benefit cannot get credits because their earnings were equal to or above the qualifying earnings factor for that year • you were living with the person who was registered for Child Benefit for the relevant period and you were sharing the care for a child under the age of 12 • you would have been able to register for Child Benefit if your spouse, partner or civil partner had not registered for it" Good luck! 👍
Any pension "increase" will be taxed, even though you cant work anymore. Its taxed because the tax thresholds haven't changed in 20 years. So the minute your pension goes above £12500 per annum it will be clawed back. Its to give the "Impression" that they are increasing A.O.P. Pensions when actually they are not. THE LAST TWO YEARS HAVE SEEN PRICE INCREASES OVER 20%, cant see any pension increase matching that. Typical British government lies (both Tory and Labour) If you have any morals left- don't vote for either of them, immigration will increase under Labour (They started it all) Thats where all the money is going.
In this video you reference Steve Webb and the state pension. Could you put a link in your description so that I can find this article and read it please. Thank you. Just for you I have subscribed with all notifications on Great content very informative
Thank you, appreciate you watching and taking the time to comment. There are lots of good articles from Steve on This is Money: www.dailymail.co.uk/money/pensions/article-11173887/Most-popular-Steve-Webb-columns-state-pension.html You can also find out more here. www.lcp.uk.com/is-your-state-pension-being-underpaid Appreciate your support 👍
@@PrinciplesPersonalFinance like many people in this situation we are unsure as to where to invest any of our pensions and also finances that are just sitting around in company accounts. What would be your suggestion to try and find a path for the future for my wife and I?
@@rocksy71 Hi John, thanks for your message. I think when you get to that position it can often be worthwhile speaking to an independent financial adviser. The answers to the questions of 'how much is enough' is complex and the challenge is like many areas in life, by definition you don't know what you don't know. Where it can get a lot more difficult is when savings are less than say £150k cumulatively. Many advisers want to help this part of the market but it can be challenging to make that work due to the spiralling cost of regulation. One of the reason for my channel is to try and help bridge that gap. There are some guidance details on my educational site around this topic: www.principlespersonalfinance.co.uk/ Hope that helps! 👍
Hi, I allow most people to comment what they wish as they are entitled to their own views. I do have to correct that the evidence does not support this statement. For MOST (not all) voluntary contributions when natural accrual is not made. They are recouped 3 to 4 years after State Pension Age, with every year thereafter creating a net benefit. Sadly, there are no guarantees on if an individual will live a long or short retirement therefore a personal judgement call has to be made.
Your not so much underpaid, we are being fleeced by global commercial recruitment companies, setting salary guides for every position advertised, these companies have far to much control on salaries being paid, while driving there signing commissions upwards and salaries downwards.
Just found your channel and subscribed l am do to retire in 2024 on the full amount l have a small pit pension which makes me £ 130 a month and l get vibration white finger money which is £300 a month but will lose 70% of that when I finish work it works out at about £250 a month to live on which is rubbish and l lost my wife 8 months ago to Cancer so can you tell me please is that all will have to live on
Hi Alan, firstly I'm really sorry to hear of your loss. My deepest condolences. This must be a very difficult time. If you haven't claimed bereavement support payment. There is a link to explore below: www.gov.uk/bereavement-support-payment/eligibility I would also suggest looking into Section 9 on the below, that is on my understanding this is an industrial injury and there may be some benefits which link to that past State Pension Age. www.gov.uk/government/publications/industrial-injuries-disablement-benefits-technical-guidance/industrial-injuries-disablement-benefits-technical-guidance There is also a list below which may apply: www.moneyhelper.org.uk/en/benefits/benefits-if-youre-sick-disabled-or-a-carer/benefits-you-can-claim-when-you-have-care-needs I would strongly suggest speaking with an adviser at Moneyhelper who can look to talk you through some options. Number is in the below link: www.moneyhelper.org.uk/en/contact-us/pensions-guidance I wish you the very best, George
I had many years due to travelling ect that I only worked for 6 to 9 months of the year, what happens to these part payment's? Are they lumped together to make full years NI payment's, or are they lost?
If you paid a certain amount the full year counts; less than that and the whole year is ignored. 9 months is just enough if you want at the minimum level the whole time: if you were on higher money than the minimum then six months may be enough. If you paid in less than the magic amount in recent years, then the payments you made will reduce the amount it would cost to top up those years. Well worth looking into. You might find that one week's class 3 would tip you into a whole extra year of qualifying contributions...
What ever happens to the money for pensions that never get claimed due to people dying before they get their pension? This figure must be running into £ billions by now?
There is no money in pension pots. The workers of today pay for the pensioners now through tax and NI and the next generation will pay for the pensions during their working life.
It is just unfair to freeze a pension just because the person does not live in a certain area. The person has not the access to THE ADDITIONAL benefits that are enjoyed in the UK. Shame on you to brush this away with never mind thats ok. Illegal migrants get all the benefits and have never contributed.. A question would I get yearly pension increases if I lived in the Falkland Islands?
You're very lucky you went abroad in probably enjoyed good weather and I better life you can't have everything in this world you didn't nobody forced you to leave did they
@@gillmahoney4742 Please get advice specific to you for the answers to important financial questions. I've included a link below so you can review the Gov documents but I have to make clear this is a RU-vid channel geared towards general financial education. It cannot provide specific advice to individuals. www.gov.uk/new-state-pension/inheriting-or-increasing-state-pension-from-a-spouse-or-civil-partner
Few people knew thqt their pension would be penalised if you moved abroad, including us. Why should be punished we are benefitting the uk ny going. Think of the medical things we havle to pay for here for instance, and many benefits we would get there financially as pensioners we dont get abroad and also the council tac and spending does not benefit uk as much as losing us
also all medical thingsnhere are supped to be reciprocal and they are definitely not. We pay a lot oit for presscitions but not all and all medical extras vis: wheelchairs neck braces sinovitus supports have to be bought, as all glasses ans teeth care cost a lot in the hundreds x many.
@@gillmahoney4742 It doesn’t matter what circumstances ,you say you had to move abroad ,we all have them . The fact is if you live in a foreign country you are an immigrant in that country . Only pretentious blurts with a seniority complex describe themselves as expats .
My father came to England in 1967 at 16 years of age. He worked non stop and paid taxes as expected. Today his pension and therefore living standard is far below his counterparts who worked cash in hand, never paid a penny into the system yet claimed everything imaginable being on "low income". Today i see the same for me, i work every hour GOD gives yet do not qualify for any assistance. My counterparts are getting free school meals for their kids, uniforms, bursaries, lower grades accepted at university, council tax paid, higher payments for cost of living etc etc. Whilst at the same time having nicer cars , holidays each year, cash pooled into btls. I am not shy to say it is tempting to join them and only halal income principle is stopping me. Why does the system allow piss takers to rub honest people faces in the dirt?
