Expat pensioners discriminated against again by UK Government

Coffee said:
What wonders - Catholicism? :p lol
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From what I have heard that makes very little difference for many. And, just for your info, the Philippines is my escape route should my present marital situation ever go awry or should the Government of Thailand make it too difficult for me to remain.
 
nomad97 said:
From what I have heard that makes very little difference for many. And, just for your info, the Philippines is my escape route should my present marital situation ever go awry or should the Government of Thailand make it too difficult for me to remain.
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Vietnam for me.
 
Night Stroker said:
Not as bad as Australia. If an Australian pensioner travels or lives overseas for more than 6 weeks the pension is significantly reduced. By that I mean up to 50%. Disgusting.
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That does not include the Aged Pension. It can be paid to your Thai bank account.
 
nomad97 said:
From what I have heard that makes very little difference for many. And, just for your info, the Philippines is my escape route should my present marital situation ever go awry or should the Government of Thailand make it too difficult for me to remain.
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Just remember to remind SWMBO of that. ;)

Once a quarter should do the trick. If she gives you the cold shoulder that reminder once a month should work. :tonguewink:
 
Yorky said:
You could savour an excellent crispy patta at the "Fire Station" restaurant just off "Burger Street" in Manila.

[Edit: although that was 15 years ago!]
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Sad you didn't order a spicy punta-burger in Angeles City at the Weeswallow Itwhole tapas bar prior to 1992.
 
I have to wait another 10 years before I get my UK state pension. My current plan is to defer claiming it.

"Your State Pension increases by the equivalent of 1% for every 9 weeks you defer. This works out as just under 5.8% for every 52 weeks"

While I am deferring I will continue to get the inflation increases until I start to claim.

I need to decide how long to defer, preferably try not to die before start claiming!

I think I can feel an excel spreadsheet coming on and a spot of breakeven analysis
 
Bandersnatch said:
I have to wait another 10 years before I get my UK state pension. My current plan is to defer claiming it.

"Your State Pension increases by the equivalent of 1% for every 9 weeks you defer. This works out as just under 5.8% for every 52 weeks"

While I am deferring I will continue to get the inflation increases until I start to claim.

I need to decide how long to defer, preferably try not to die before start claiming!

I think I can feel an excel spreadsheet coming on and a spot of breakeven analysis
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Take it when you can - you may not get another chance.
 
If I handled Bander's bankroll I'd light £-notes to light my cigars. :p

Defer, baby, defer...live long and prosper.
 
Bandersnatch said:
"Your State Pension increases by the equivalent of 1% for every 9 weeks you defer. This works out as just under 5.8% for every 52 weeks"
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You should look at this very closely. Yes, it may increase by 5.8% p.a. but you have just lost one year's pension. The British government are not renown for handing out money in excess of what you could obtain as interest in the banks.
 
Yorky said:
You should look at this very closely. Yes, it may increase by 5.8% p.a. but you have just lost one year's pension. The British government are not renown for handing out money in excess of what you could obtain as interest in the banks.
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+1

Once the money is ‘gone’, it is gone forever.


I believe at one time Prakhonchai Nick posted an example of what you would lose ( or need to live to, to compensate for the deferral).
 
Yorky said:
You should look at this very closely. Yes, it may increase by 5.8% p.a. but you have just lost one year's pension. The British government are not renown for handing out money in excess of what you could obtain as interest in the banks.
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Agreed @Yorky. It is difficult to calculate this far out as I have no idea what the annual increase will be in 10 years time, that is why I haven't spent much time on it.
 
nomad97 said:
Like I said, "Take it when you can - you may not get another chance."
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When I retired back God knows when, I had the choice of taking a lump sum and a reduced pension. My calculations indicated that discounting cost of living increases I would be 84 years old before I started to lose out. At that time I considered that there was very little chance of me reaching 74 never mind 84.

Although I have been feeling better lately.
 
CO-CO said:
+1

Once the money is ‘gone’, it is gone forever.


I believe at one time Prakhonchai Nick posted an example of what you would lose ( or need to live to, to compensate for the deferral).
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I have in the past recommended to people (who did not need the money) not to defer, and it turned out to be the correct thing to do at the time.

For each year you defer, you gain 5.8%, but you must take into account inflation here in Thailand, and also the exchange rate. Also as Bander states the freezing does not start until such time as you first make a claim. What will UK inflation be in 10 years time? How much will the state pension increase?

It is a gamble, and one that needs to be considered fully in 10 years time, or later should the goalposts be moved yet again. Then, as I have mooted several times, but not believed by some members, there is, I believe, the distinct possibility that within the next 10 years, pensions may only be payable to those that spend a minimum amount of time annually in the UK.

We never thought bereavement benefits would cease for Thai widows, but they were stopped with very little warning. That has left more than a few widows with young children with little or no money, their late British husbands having previoously been told they would receive benefits for their children. Some couples only married to ensure their wives and children would receive benefits, only to find that if they were to die now, there would be no money.

Nothing stands still, and close tabs need to be kept on everything.
 
Prakhonchai Nick said:
I have in the past recommended to people (who did not need the money) not to defer, and it turned out to be the correct thing to do at the time.

For each year you defer, you gain 5.8%, but you must take into account inflation here in Thailand, and also the exchange rate. Also as Bander states the freezing does not start until such time as you first make a claim. What will UK inflation be in 10 years time? How much will the state pension increase?

It is a gamble, and one that needs to be considered fully in 10 years time, or later should the goalposts be moved yet again. Then, as I have mooted several times, but not believed by some members, there is, I believe, the distinct possibility that within the next 10 years, pensions may only be payable to those that spend a minimum amount of time annually in the UK.

We never thought bereavement benefits would cease for Thai widows, but they were stopped with very little warning. That has left more than a few widows with young children with little or no money, their late British husbands having previoously been told they would receive benefits for their children. Some couples only married to ensure their wives and children would receive benefits, only to find that if they were to die now, there would be no money.

Nothing stands still, and close tabs need to be kept on everything.
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+1. I will take it at the earliest opportunity (4 years time for me).


Sent from my iPhone using Tapatalk
 
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