The Retirement Thread

[numbnuts]

We has rain, and I have a coconut cake which iis still in the oven.

 

[Drago]

I was going to post similar but wasn't sure if I would need to tell myself off in case it was too political. 😁

I shall go no further Sir!

 

[Dave7]

On a brighter note, I am back from enjoying lunch at the Chinese. I tried a new one (for me).....chicken kung po. It had a lovely sweet chilly taste then the hot spices kicked in... very enjoyable.

 

[Dave7]

We has rain, and I have a coconut cake which iis still in the oven.

Better than a bun in the oven

 

[PaulSB]

Is this the same lot who've U turned or backtracked on a pledge/promise on average every 8 days since they became the landlords? It must be true then!

Actually now I've been reminded she made the statement in her first full interview after the budget. I don't think it's a u-turn but a recognition that a section of the population would be caught in this and those people need help.

 

[PaulSB]

That is interesting - it does look like Rachel from Accounts has stated that FOR THE DURATION OF THIS PARLIAMENT that people whose sole source of income is the State Pension will not be taxed if it exceeds the Personal Tax Allowance.

Again, you learn something every day!

There's no doubt something had to be done as many rely solely on the SP.

 

[PeteXXX]

Short ride this lunchtime, once the rain had passed, to drop some stuff off at the charity shop & treat myself to an ice-cream at Gallone's Emporium 🍦
Back home for a snooze on the settee 💤 👌

 

[PaulSB]

You, like myself and other public servants were automatically transferred out of serps, so we payed slightly less NI, which meant we get a slightly less state pension, unless like yourself you topped it up.

Are you sure you're correct with regard to paying less NI. My wife worked in the NHS and was, like everyone else, contracted out of SERPS which increased her NHS pension.

She didn't pay less NI and is receiving £14 per annum less than the full SP.

You might want to check you're getting your full entitlement.

 

[PaulSB]

I have returned. IKEA is as dreadful as I remembered, in fact worse, as the TV unit we were buying for #2 son didn't come as one package. There are about 10 boxes, each of which we had to find ourselves. Horrid.

We only went for a TV unit, so I was told, we seem to have come back with more!

WOW! The M6 surface is dreadful in places. How can a motorway have potholes?

Off for a nap.........an evening of IKEA building awaits me

 

[welsh dragon]

Yes, but your combined pensions must have been above the Personal Tax Allowance of £12570.

It is

 

[welsh dragon]

I have returned. IKEA is as dreadful as I remembered, in fact worse, as the TV unit we were buying for #2 son didn't come as one package. There are about 10 boxes, each of which we had to find ourselves. Horrid.

We only went for a TV unit, so I was told, we seem to have come back with more!

WOW! The M6 surface is dreadful in places. How can a motorway have potholes?

Off for a nap.........an evening of IKEA building awaits me

I have never been in an IKEA store.

 

[SpokeyDokey]

I have never been in an IKEA store.

They do have lots of lovely stuff from big to small.

The stores are a bit maze-like and are blooming huge.

 

[BoldonLad]

Are you sure you're correct with regard to paying less NI. My wife worked in the NHS and was, like everyone else, contracted out of SERPS which increased her NHS pension.

She didn't pay less NI and is receiving £14 per annum less than the full SP.

You might want to check you're getting your full entitlement.

I am similar situation, having been "contracted out" (I think that is the correct term) during some of my working and works pension contributing life. This all had something to do with SERPS and other "additional" pension schemes, introduced and abandoned by various Governments over the years.

My wife, who does not actually receive a "full" State Pension, actually receives more State Pension than I do (when all of the additional and SERPS type things are included).

The "new" system (for those retiring post 2016(?) ) may have simplified things, but, for people like myself (reaching state pension age in 2012) it is a minefield to calculate your entitlement, and, annual increases are not uniformly applied to the "extras".

 

[Paulus]

Are you sure you're correct with regard to paying less NI. My wife worked in the NHS and was, like everyone else, contracted out of SERPS which increased her NHS pension.

She didn't pay less NI and is receiving £14 per annum less than the full SP.

You might want to check you're getting your full entitlement.

Yes, the idea was that the difference in NI payments was to go into the workplace pension to top that up. The railways, post, buses, council and NHS plus public sector workers all were contracted out.
My pension is £14 per 4 weeks short of the full weekly pension, even after paying NI for 45 years.

 

[Tenkaykev]

On a brighter note, I am back from enjoying lunch at the Chinese. I tried a new one (for me).....chicken kung po. It had a lovely sweet chilly taste then the hot spices kicked in... very enjoyable.

Did the waiter look a bit like David Carradine ?