UK Pensions

[Ivor the Engine]

To be honest, some of us went through rough divorces.

+2

 

[CharlesLittle]

To be honest, some of us went through rough divorces.

A good reason to retire early and enjoy life.

 

[merlin]

A good reason to retire early and enjoy life.

A divorce usually leaves the man worse off financially, while his wife usually benefits from his accumulated asset value. When the divorce occurs close to retirement age, there may be few opportunities for him to recover his financial position, and retirement at that age then becomes virtually impossible.

Many men will find themselves having paid mortgages for most of their working lives, together with most of the household bills, leaving their wives free to use their own incomes on themselves. Men may find that retirement planning pre-divorce included maximizing their wives' pensions in order to use personal tax allowances more efficiently post-retirement, but at considerable personal cost to themselves.

Blaming a man for not funding his own retirement planning adequately is easy when individual circumstances aren't known. There is no one-cap-fits-all solution.

 

[CharlesLittle]

A divorce usually leaves the man worse off financially, while his wife usually benefits from his accumulated asset value. When the divorce occurs close to retirement age, there may be few opportunities for him to recover his financial position, and retirement at that age then becomes virtually impossible.

Many men will find themselves having paid mortgages for most of their working lives, together with most of the household bills, leaving their wives free to use their own incomes on themselves. Men may find that retirement planning pre-divorce included maximizing their wives' pensions in order to use personal tax allowances more efficiently post-retirement, but at considerable personal cost to themselves.

Blaming a man for not funding his own retirement planning adequately is easy when individual circumstances aren't known. There is no one-cap-fits-all solution.

By maximizing their wife's pension, they are also protecting theirs.

In divorce, pensions are shared just like other assets.

I certainly don't, have never, paid all monthly bills while my wife spends her income on herself.

 

[merlin]

New call for £15,000 personal tax allowance for people on State Pension

An estimated 900,000 people in receipt of the State Pension may need to pay tax for the 2024/25 financial year.

www.dailyrecord.co.uk

"In a written response to Mr Robinson on Monday, Financial Secretary to the Treasury, Nigel Huddleston MP, said: “The Government is committed to ensuring that older people are able to live with the dignity and respect they deserve."

Those weasel words don't apply to those expat retirees who's State Pensions are frozen by his Government at levels that ensure dignity and respect cannot be achieved.

 

[merlin]

By maximizing their wife's pension, they are also protecting theirs.

In divorce, pensions are shared just like other assets.

I certainly don't, have never, paid all monthly bills while my wife spends her income on herself.

Lucky you! And those assets, mainly funded in practice by the man, rarely result in a 50/50 split.

 

[Prakhonchai Nick]

By maximizing their wife's pension, they are also protecting theirs.

In divorce, pensions are shared just like other assets.

I certainly don't, have never, paid all monthly bills while my wife spends her income on herself.

In my days, most wives stayed home and looked after the children and their husband. No income to assist with home running costs.

 

[CharlesLittle]

Lucky you! And those assets, mainly funded in practice by the man, rarely result in a 50/50 split.

I don't understand the idea of me being a "lucky man".

I can't say I've ever met someone who paid everything, while the wife was working and spending her money on herself.

I understand @Prakhonchai Nick comment with regards to wife being a house wife.

@Merlin other than having children under 18, although you did mention divorce near to pensionable age so likely there aren't any, why would assests not be split 50/50?

 

[Ivor the Engine]

By maximizing their wife's pension, they are also protecting theirs.

In divorce, pensions are shared just like other assets.

I certainly don't, have never, paid all monthly bills while my wife spends her income on herself.

I think that only started in UK about 25ish years ago,where a wife could claim a portion of the (ex)husbands pension.
That was a condition in my first divorce, where I insisted on keeping all of my future pension (to be able then to escape to Los). Stupidly, I then retired at 48!

 

[Prakhonchai Nick]

I think that only started in UK about 25ish years ago,where a wife could claim a portion of the (ex)husbands pension.
That was a condition in my first divorce, where I insisted on keeping all of my future pension (to be able then to escape to Los). Stupidly, I then retired at 48!

I retired at 42 and came to LoS. Never once regretted it.

 

[Ivor the Engine]

I retired at 42 and came to LoS. Never once regretted it.

I dont regret it at all, but you know what they say about 'idle hands' !!!!!

 

[Moderator 3]

"In a written response to Mr Robinson on Monday, Financial Secretary to the Treasury, Nigel Huddleston MP, said: “The Government is committed to ensuring that older people are able to live with the dignity and respect they deserve."

Those weasel words don't apply to those expat retirees who's State Pensions are frozen by his Government at levels that ensure dignity and respect cannot be achieved.

MSN

 

[howardb]

A divorce usually leaves the man worse off financially, while his wife usually benefits from his accumulated asset value. When the divorce occurs close to retirement age, there may be few opportunities for him to recover his financial position, and retirement at that age then becomes virtually impossible.

Many men will find themselves having paid mortgages for most of their working lives, together with most of the household bills, leaving their wives free to use their own incomes on themselves. Men may find that retirement planning pre-divorce included maximizing their wives' pensions in order to use personal tax allowances more efficiently post-retirement, but at considerable personal cost to themselves.

Blaming a man for not funding his own retirement planning adequately is easy when individual circumstances aren't known. There is no one-cap-fits-all solution.

Really thoughtful and balanced response.

 

[merlin]

I don't understand the idea of me being a "lucky man".

I can't say I've ever met someone who paid everything, while the wife was working and spending her money on herself.

I understand @Prakhonchai Nick comment with regards to wife being a house wife.

@Merlin other than having children under 18, although you did mention divorce near to pensionable age so likely there aren't any, why would assests not be split 50/50?

I can only vouch for myself in stating that I paid most of the bills throughout my first marriage - all 28 years of it, Hence my comment that you (and anyone else in your position) would seem fortunate in comparison.

If all assets were always divided 50/50 upon divorcing, there would seem to be little point in the parties wasting money by employing solicitors/lawyers.

 

[Ivor the Engine]

I can only vouch for myself in stating that I paid most of the bills throughout my first marriage - all 28 years of it, Hence my comment that you (and anyone else in your position) would seem fortunate in comparison.

If all assets were always divided 50/50 upon divorcing, there would seem to be little point in the parties wasting money by employing solicitors/lawyers.

50/50 is a mere starting point IF there are only 2 people in the family. I had(have) 2 kids so got 24% of the house value upon my first divorce but kept all future pension rights.

 

[CharlesLittle]

If all assets were always divided 50/50 upon divorcing, there would seem to be little point in the parties wasting money by employing solicitors/lawyers.

Wise words.

It's a shame some people can't remain a bit more amicable after a split. At least they could share all of the assets instead of giving a large chunk away to lawyers.

 

[CharlesLittle]

50/50 is a mere starting point IF there are only 2 people in the family. I had(have) 2 kids so got 24% of the house value upon my first divorce but kept all future pension rights.

24% of a property, all future pension rights and retired at 48.

Good outcome.

Yet, you posted a few times you were working until your government pension matured at 66 years old.

Edit, I see you wrote "first divorce". Makes more sense now.

 

[Ivor the Engine]

Itsvnc1

24% of a property, all future pension rights and retired at 48.

Good outcome.

Yet, you posted a few times you were working until your government pension matured at 66 years old.

Edit, I see you wrote "first divorce". Makes more sense now.

Yes, after No.2 (in Surin) and a trip back to UK, I decided to train/qualify to teach English so came back and Lectured in a Uni for the last 13 years so this is now my 2nd retirement.

 

[merlin]

Beware the Ides of March!

Well, it may not happen next month, but there's no smoke without fire...

UK government claims benefit fraud discovered in overseas expat payments - Pattaya Mail

Thailand-based British pensioners could have their British bank accounts inspected by the government under new powers being considered to thwart benefit irregularities. The plans, part of the data protection and digital information bill now being discussed by the House of Lords, could involve...

www.pattayamail.com

When does this seeming persecution translate to victimisation of British expats?

 

[CharlesLittle]

Beware the Ides of March!

Well, it may not happen next month, but there's no smoke without fire...

UK government claims benefit fraud discovered in overseas expat payments - Pattaya Mail

Thailand-based British pensioners could have their British bank accounts inspected by the government under new powers being considered to thwart benefit irregularities. The plans, part of the data protection and digital information bill now being discussed by the House of Lords, could involve...

www.pattayamail.com

When does this seeming persecution translate to victimisation of British expats?

Do you really think checking for benefit irregularities, read Fraud, is persecution or victimisation?

Most, if not all, British expats are tax payers. I'm sure most, if not all, would not want their tax being spent on benefits to those who shouldn't be receiving them.