Pensions
Moderators: Guru's, The Ministry
Pensions
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
Brian H
Re: Pensions
Invest it wisely Brian and think of all the interest you’ll receive on it. Such generosity is underwhelming! EricT
Now at the age where I know I like girls but can't remember why!
Re: Pensions
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.
Re: Pensions
I do not think that I could live on 4K mate
Re: Pensions
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.
Re: Pensions
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
- thehappyotter
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Re: Pensions
Those of us still serving were shafted too.Vancouver wrote: ↑06 Jun 2020, 16:56The 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.
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...
Re: Pensions
My old boss is ex Cheshire Constab.,he told me all about it too after he retired two years ago.thehappyotter wrote: ↑10 Jun 2020, 12:54Those of us still serving were shafted too.Vancouver wrote: ↑06 Jun 2020, 16:56The 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.
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...
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.
A/C.2 Webber,Manston,1941,First Light by Geoff Wellum.
- thehappyotter
- Concorde
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- Joined: 27 Nov 2005, 15:15
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Re: Pensions
I know. It's terrible isn't it 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.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
We'll see where the legal challenge takes us pension wise...
Re: Pensions
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