What a lovely surprise.

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511Flyer
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What a lovely surprise.

Post by 511Flyer » 14 Apr 2019, 09:39

I received a large brown envelope in the post yesterday, and they are usually a demand for something. However, this one was exactly the opposite.

It was from the Pension Service to inform me that as I'm approaching 80, I'm entitled to a higher amount of State Pension. They then go on to tell me that the increase is for the sum of 25p per week.

I've lain awake most of the night, wondering just how to spend this fantastic windfall. There a so many things I can't buy, but if I save it all for three months, I'll be able to treat myself to a cup of coffee at the local garden centre. What a treat! Thank you Pension Service.

:excited:

Tomliner
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Re: What a lovely surprise.

Post by Tomliner » 14 Apr 2019, 10:33

Wow! Such generosity is underwhelmimg :agree: EricT
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Airspeed
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Re: What a lovely surprise.

Post by Airspeed » 14 Apr 2019, 14:21

Den, was there any deduction for the cost of mailing you this token of false generosity?

Vancouver
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Re: What a lovely surprise.

Post by Vancouver » 14 Apr 2019, 18:43

It is comforting to know that the Government is so considerate and caring in regard to its seniors. Spend it wisely. :Dance:

Spare a thought for those ex-pats ( specifically me btw :hello: and other Commonwealth citizens ) who had their pensions frozen from the day they left the country even though we paid into it for (in my case) 31 years. There is a faltering campaign. Had I moved just 5 Km further south to the land of dragons or indeed that European organisation there is no such restriction.

The Commonwealth to Britain means not a jot.
Alex

simondix
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Re: What a lovely surprise.

Post by simondix » 14 Apr 2019, 22:30

Don't forget you will have to pay tax on it so maybe you will have to delay that coffee.
Simon

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511Flyer
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Re: What a lovely surprise.

Post by 511Flyer » 15 Apr 2019, 09:39

I don't actually earn enough to pay tax these days. The interest on savings is taxable, but the interest is at an all time low, so it's hardly worth saving. My wife says she wants a coffee as well, so I'll have to save up my pennies for 6 months.

It's a misconception that we pay towards our own pension whilst we are working. We were actually paying for the people who were pensioners at that time. Our pensions are then paid by those who are contributing now. So keep on working, and keep on paying, cos I need the money.

;)
Last edited by 511Flyer on 15 Apr 2019, 14:58, edited 1 time in total.

Tomliner
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Re: What a lovely surprise.

Post by Tomliner » 15 Apr 2019, 10:12

Just to clarify, as I understand it in the UK the state pension is paid free of tax. However, if when added to any other source of income e.g. company or private pensions or savings interest in excess of £1000 then tax is payable at the appropriate rate above your tax free threshold which currently is £12500 p.a or more depending on your tax code. No I didn’t work for HMRC or in finance. :) EricT
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Nigel H-J
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Re: What a lovely surprise.

Post by Nigel H-J » 15 Apr 2019, 16:57

Just to clarify, as I understand it in the UK the state pension is paid free of tax
That is correct Eric, for this month I received a statement from one of my previous employers that showed how much tax I had been deducted from this month, although have another pension from the local authority I pay no tax on that and also no tax on the state pension.

Now before any-one jumps up and says that I am well off with three pensions, you get no pension for serving just 5 years in the RAF and prior to that I started working at fifteen and a half, the company I worked for during the mid sixties did not have a company pension either so the total amount I receive is very much lower than some-one who has worked with one company all their life. I was with Tank Freight which was part of the then National Freight Corporation but after 11 years I received serious leg injuries in a motor-bike crash (not my fault) so only get the amount that I worked plus a bit extra for transferring into Serps. It was six years before I was able to find alternative employment (due to operations and physiotherapy and temporary work) as my HGV had been revoked on medical grounds.

Spent 17 years as a C.C.T.V. Operator with Lincoln City Council but had to take voluntary redundancy due to poor health so again I did not qualify for a full 20 year pension if I had worked to retirement. All in all we get by quite well, but wonder what the future holds for the younger generation when they reach retirement...........Oh, hang on a minute.......a future Government might just make you work until in your mid seventies and if lucky you might just live a bit longer to enjoy it unless your're an MP and do a five year term then get a pension! :rant:

Regards
Nigel.
I used to be an optimist but with age I am now a grumpy old pessimist.

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