PPF "Compensation"

[Yorky]

Following an enquiry of some 5 weeks ago I have today been informed that:

"The Plan rules pay a pension to a spouse or civil partner, so 50% of the compensation due at the date of death will be payable to your spouse or civil partner. As the rules also cover payments to an unmarried partner at the Trustees’ discretion, 50% of the compensation due at the date of death may be payable to an unmarried partner subject to you making a nomination and providing evidence of co-habitation and financial interdependence. You cannot nominate someone other than your partner. Survivor’s payments may be reduced if the member is significantly older than their partner."

I was not really in doubt but it is gratifying to have it in writing.

 

[Prakhonchai Nick]

Following an enquiry of some 5 weeks ago I have today been informed that:

"The Plan rules pay a pension to a spouse or civil partner, so 50% of the compensation due at the date of death will be payable to your spouse or civil partner. As the rules also cover payments to an unmarried partner at the Trustees’ discretion, 50% of the compensation due at the date of death may be payable to an unmarried partner subject to you making a nomination and providing evidence of co-habitation and financial interdependence. You cannot nominate someone other than your partner. Survivor’s payments may be reduced if the member is significantly older than their partner."

I was not really in doubt but it is gratifying to have it in writing.

Most occupational pension schemes reduce the widows pension by 2.5% for each year that the member is more than 10 years (sometimes 12 years) older than the widow.

Bear in mind also that some occupational pension schemes will pay nothing to the widow, if marriage took place AFTER the member started to receive pension.

 

[Yorky]

Most occupational pension schemes reduce the widows pension by 2.5% for each year that the member is more than 10 years (sometimes 12 years) older than the widow.

The rules of my company pension scheme were as per the former. I've no reason to disbelieve that the PPF rules will be any different although I have heard nothing to confirm this.

 

[Ivor the Engine]

The rules of my company pension scheme were as per the former. I've no reason to disbelieve that the PPF rules will be any different although I have heard nothing to confirm this.

Mine pays 50% to partner/spouse IF I want!!


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[Yorky]

Mine pays 50% to partner/spouse IF I want!!

As does mine but it is dependent upon her age. I think they've learnt from past situations where the pensioner marries at age 80 to a girl still in her teens.

And if you don't want? Are you going to take it with you?

 

[Yorky]

I received a letter yesterday (dated 10th December 2019) to advise me that my yearly "compensation" will increase by £45.50 p.a. for 2020. That's in addition to the £0.00 increase in my OAP. So I now have an extra ฿ 150.00 per month to spend on whatever I like!

 

[nomad97]

I received a letter yesterday (dated 10th December 2019) to advise me that my yearly "compensation" will increase by £45.50 p.a. for 2020. That's in addition to the £0.00 increase in my OAP. So I now have an extra ฿ 150.00 per month to spend on whatever I like!

Don't knock it, you can buy a 300-gram rump steak from Makro for that kind of money!

 

[Yorky]

Don't knock it, you can buy a 300-gram rump steak from Makro for that kind of money!

I have yet to read your report on said rump steak.

 

[Prakhonchai Nick]

I received a letter yesterday (dated 10th December 2019) to advise me that my yearly "compensation" will increase by £45.50 p.a. for 2020. That's in addition to the £0.00 increase in my OAP. So I now have an extra ฿ 150.00 per month to spend on whatever I like!

Will that extra 150Baht per month not be taxed at 20%?

 

[Yorky]

Will that extra 150Baht per month not be taxed at 20%?

Yes. That's something that crossed my mind as I awoke this morning. That's the rump steak kicked in the head.