Retirement

[Bryn]

There are so many posts, I haven't read them all, but the government now refers what we used to call the State Retirement Pension as a 'benefit'. I object to this strongly because the word 'benefit' implies some sort of goodwill handout rather than something which is yours by right (and by contribution). However the weasel word 'benefit' is now used by HMG to avoid paying out some actual benefits. We have an example rather close to home where a grandparent was full-time carer for a seriously ill and parentless child. On applying for a carer's allowance, the reply came along the lines of:

We are pleased to inform you that you qualify for a Carer's Allowance
Amount you will receive £0.00
Reason. You are already in receipt of State Retirement Benefit.

Incidentally, if anyone finds him or herself in a similar situation there is a benefit, well buried in HMRC's website, called a Guardian's Allowance. It's not very big but worth applying for.

https://www.gov.uk/guardians-allowance

The State Pension is but one component of what makes up the total Retirement Benefit. See https://www.moneywise.co.uk/work-fam...te-pension-age , for instance.

See also, http://www.for3.org/forums/showthrea...890#post725890

[Old Grumpy]

Known in jazz as a walking bass line.

But with a fine pedigree in the Baroque stylee...

[Petrushka]

Has anyone else had to chase for their company pension lump sum to be paid?

I have two pensions with my employer: a final salary pension and (since that one was closed and frozen in 2012) another with Aviva. Both promised payment of my 25% cash lump sum on my 65th birthday (nearly three weeks ago) but neither delivered. The first one was paid on Friday after I had to chase the Financial Director to find out what had happened to it. I rang Aviva about the other one and having been passed from department to department finally extracted a promise of '4 or 5 weeks, possibly'.

I chase debts for a living, and Aviva are well known to me for dragging their heels, but think it is beyond the pale for me to have to be chasing my own pension.

Is it incompetence or are they all crooks?

[CGR]

There are so many posts, I haven't read them all, but the government now refers what we used to call the State Retirement Pension as a 'benefit'. I object to this strongly because the word 'benefit' implies some sort of goodwill handout rather than something which is yours by right (and by contribution) ...

Yep. The term "benefit" for a pension is insulting and offensive.

[teamsaint]

Has anyone else had to chase for their company pension lump sum to be paid?

I have two pensions with my employer: a final salary pension and (since that one was closed and frozen in 2012) another with Aviva. Both promised payment of my 25% cash lump sum on my 65th birthday (nearly three weeks ago) but neither delivered. The first one was paid on Friday after I had to chase the Financial Director to find out what had happened to it. I rang Aviva about the other one and having been passed from department to department finally extracted a promise of '4 or 5 weeks, possibly'.

I chase debts for a living, and Aviva are well known to me for dragging their heels, but think it is beyond the pale for me to have to be chasing my own pension.

Is it incompetence or are they all crooks?

Pet, I have a flexible drawdown pension fund with Aviva. Setting it up and accessing the tax free portion was pretty straightforward, with no undue delays.
I’m pretty sceptical about insurance companies, but can’t complain about Aviva, who I have used a fair bit over the years.

Less than 10 years till I get my state pension now....

[Pulcinella]

Pet, I have a flexible drawdown pension fund with Aviva. Setting it up and accessing the tax free portion was pretty straightforward, with no undue delays.
I’m pretty sceptical about insurance companies, but can’t complain about Aviva, who I have used a fair bit over the years.

Less than 10 years till I get my state pension now....

Are you sure?
They'll have changed it all by then.

[teamsaint]

Are you sure?
They'll have changed it all by then.

Well that’s cheered me up no end.

And the days are getting shorter......

[Pulcinella]

Well that’s cheered me up no end.

And the days are getting shorter......

It'll soon be Christmas.

[Dave2002]

It'll soon be Christmas.

Not even had Wimbledon or the Proms yet. Can't we just try to enjoy the moment?

Plus the nights aren't getting too dark just yet, though the weather could be better.

[Pulcinella]

Not even had Wimbledon or the Proms yet. Can't we just try to enjoy the moment?

Plus the nights aren't getting too dark just yet, though the weather could be better.

And longer daylight hours up here compared to where I'll be on the First Night!

[cloughie]

It'll soon be Christmas.

Not Carols and Slade yet, please!

[Eine Alpensinfonie]

Plus the nights aren't getting too dark just yet, though the weather could be better.

I’m just making the final touches to my new composition: The Two Seasons.

[BBMmk2]

Sounds good EA! I’ve been retired since last autumn term, as you might’ve budge to my health, as I was off sick for the two years prior to that. Strange though I miss the kids. I had a surprise recently from the Board of Governors. An invitation to their annual dinner. Unfortunately I had to de line the invite. A great shame.

[teamsaint]

Seems like a tory “ think tank” ( think ? Really?) wants to raise the age to 75.

Which is fine, unless you happen to be one of those people who actually need the pension.

[gurnemanz]

Just turned 70, celebrating 10 years of my well-used bus pass. Can't complain: Local Stagecoach 55 and S6 to Oxford have new buses with WiFi and aircon.