Pensions

The Crewroom for non-FS related stuff, fun and general chat.

Moderators: Guru's, The Ministry

plumber
Chipmunk
Chipmunk
Posts: 36
Joined: 01 Mar 2013, 13:22
Location: Nr Blackpool UK

Pensions

Post by plumber »

Just before my 80th I received notification that my OAP would increase by £1.00 p, great news I thought! Yesterday received a letter from Tax Office my Tax Allowance had been decreased by £11.00 Annually, I am now £1.00 per year better off. You cannot make it up!!!!!!!!!!
Brian H

User avatar
Tomliner
Battle of Britain
Battle of Britain
Posts: 4983
Joined: 02 Apr 2006, 12:00
Location: Edinburgh UK

Re: Pensions

Post by Tomliner »

Invest it wisely Brian and think of all the interest you’ll receive on it. Such generosity is underwhelming! :wall: EricT
Now at the age where I know I like girls but can't remember why!

511Flyer
Vintage Pair
Vintage Pair
Posts: 2217
Joined: 24 Jun 2007, 10:13
Location: Surrey

Re: Pensions

Post by 511Flyer »

If you don't earn more than your tax allowance, you wont lose that £11. If you do earn more than the allowance, you don't need the £1.

:)

plumber
Chipmunk
Chipmunk
Posts: 36
Joined: 01 Mar 2013, 13:22
Location: Nr Blackpool UK

Re: Pensions

Post by plumber »

I do not think that I could live on 4K mate

User avatar
TSR2
The Ministry
Posts: 15647
Joined: 17 Jun 2004, 14:32
Location: North Tyneside, UK
Contact:

Re: Pensions

Post by TSR2 »

Personal tax allowance in the UK unadjusted for other income is about 10k. Everyone’s situation is different, but when pensions increase every year regardless of other factors and child benefits haven’t increased at all in at least 6, there’s definitely a disparity. I should clarify I claim neither. But on face value, under 16’s don’t get free travel, have had family allowance frozen for over 6 years, it’s hard to justify increases for those of pension age unless there are extenuating circumstances. Just my tuppence worth.
Ben.:tunes:

ImageImageImage

Vancouver
Concorde
Concorde
Posts: 1470
Joined: 05 Apr 2008, 00:27
Location: CYXX

Re: Pensions

Post by Vancouver »

The generosity is astounding. I discovered recently that my 30 year Met police pension will reduce some (figure yet to be realized) when I come of UK pensionable age which I blv is now 67 (they keep shifting it). An oversight in negotiations made by the Pol Federation which they neglected to tell us about in the 80's. Useless bunch they are.
Alex

User avatar
thehappyotter
Concorde
Concorde
Posts: 727
Joined: 27 Nov 2005, 15:15
Location: Nottinghamshire
Contact:

Re: Pensions

Post by thehappyotter »

Vancouver wrote:
06 Jun 2020, 16:56
The generosity is astounding. I discovered recently that my 30 year Met police pension will reduce some (figure yet to be realized) when I come of UK pensionable age which I blv is now 67 (they keep shifting it). An oversight in negotiations made by the Pol Federation which they neglected to tell us about in the 80's. Useless bunch they are.
Those of us still serving were shafted too.

I joined in 2004 on the 1987 scheme with a retirement date of 2034. In 2015 we were forced onto a new pension where the payments are higher, the benefit at the end significantly lower and the retirement age increased to 60.

After a whole decade of service I still had the same amount of time left as I had when I started, with a much reduced payout at the end for my trouble.

Of course the Fed did nothing at all, until our private legal challenge looked like it might win. Then they jumped on the bandwagon and said they'll support their members and raise their own legal challenge. After we'd done the work. They're refusing to finance us (also members) who did all of the hard work and we're continuing to have to pay thousands each to challenge the change.

Still, we'll keep on battling on, despite it not just being the media we're fighting against...

User avatar
migman29
Trident
Trident
Posts: 366
Joined: 19 Sep 2004, 11:45
Location: RJ's Hometown

Re: Pensions

Post by migman29 »

thehappyotter wrote:
10 Jun 2020, 12:54
Vancouver wrote:
06 Jun 2020, 16:56
The generosity is astounding. I discovered recently that my 30 year Met police pension will reduce some (figure yet to be realized) when I come of UK pensionable age which I blv is now 67 (they keep shifting it). An oversight in negotiations made by the Pol Federation which they neglected to tell us about in the 80's. Useless bunch they are.
Those of us still serving were shafted too.

I joined in 2004 on the 1987 scheme with a retirement date of 2034. In 2015 we were forced onto a new pension where the payments are higher, the benefit at the end significantly lower and the retirement age increased to 60.

After a whole decade of service I still had the same amount of time left as I had when I started, with a much reduced payout at the end for my trouble.

Of course the Fed did nothing at all, until our private legal challenge looked like it might win. Then they jumped on the bandwagon and said they'll support their members and raise their own legal challenge. After we'd done the work. They're refusing to finance us (also members) who did all of the hard work and we're continuing to have to pay thousands each to challenge the change.

Still, we'll keep on battling on, despite it not just being the media we're fighting against...
My old boss is ex Cheshire Constab.,he told me all about it too after he retired two years ago.
It's a shame some sort of public protest/petition can't be started over this because it stinks to high heaven.

Meanwhile Rob,you're going to have to sit in that seat in that swanky black and yellow ride of yours for few years yet ;)
You could see him thinking "Bleedin'pilots,don't know nuffin.All glammer" He's probably right.

A/C.2 Webber,Manston,1941,First Light by Geoff Wellum.

User avatar
thehappyotter
Concorde
Concorde
Posts: 727
Joined: 27 Nov 2005, 15:15
Location: Nottinghamshire
Contact:

Re: Pensions

Post by thehappyotter »

migman29 wrote:
10 Jun 2020, 14:09

My old boss is ex Cheshire Constab.,he told me all about it too after he retired two years ago.
It's a shame some sort of public protest/petition can't be started over this because it stinks to high heaven.

Meanwhile Rob,you're going to have to sit in that seat in that swanky black and yellow ride of yours for few years yet ;)
I know. It's terrible isn't it :lol: I'm acutely aware of how privileged I am to do what I do and that it's not a right, I have to keep on earning it. I'm nothing more than anyone else and I really feel for those on the front line at the moment. Although I have been there and done that I guess. I have seen a copy of the national aviation review and nothing can be taken for granted, although I can't divulge any details thankfully we appear safe. For now.

We'll see where the legal challenge takes us pension wise...

Vancouver
Concorde
Concorde
Posts: 1470
Joined: 05 Apr 2008, 00:27
Location: CYXX

Re: Pensions

Post by Vancouver »

Oh yes your generation were shafted big time, I got out the year you joined which I think was probably the best of times. The Job has changed significantly in the time I have been gone so you have my respect to choose to remain. Everything is so politicized now and I thought it bad 20 years ago, but way worse now. I miss it but am so glad I am out.
Alex

Post Reply