UK Pensions
- Thread starter CO-CO
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Prakhonchai Nick
You chose a custom title
CO-CO
Rather wrinkly & occasionally cantankerous member
Did I miss something? I thought it happened 2 Christmasses ago
Should have been........ if the government hadn’t f**ked up the Brexit process!
Ivor the Engine
Nowhere man
Following my recent bad luck (x2)
1- scooter accident
2- forgot my PIN number to access my private pension from Nationwide BS!!!
One question that I have been thinking about with regard to my future UK State Pension, is can you get your pension payment sent to a Thai Bank account direct,in your name??
Or must it go to UK based bank/building society, which is what is(was) happening with my personal Pension until i forget my blooding PIN number!!!! Ggrrrrrr!!!
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1- scooter accident
2- forgot my PIN number to access my private pension from Nationwide BS!!!
One question that I have been thinking about with regard to my future UK State Pension, is can you get your pension payment sent to a Thai Bank account direct,in your name??
Or must it go to UK based bank/building society, which is what is(was) happening with my personal Pension until i forget my blooding PIN number!!!! Ggrrrrrr!!!
Sent from my iPhone using Tapatalk
Yorky
Fullritis Member
Yes.
They don't even charge you for the service but they (or some other outside source) determine the exchange rate.
In order to instigate the transfer I am advised that you will need to ring them, email or letter will not suffice. It will be a one-off call unless you need to change the arrangements at a future date.
Prakhonchai Nick
You chose a custom title
As Yorky said above YES.
But surely your are still some years off applying for pension. The form that needs to be completed some 3 months before your eligible date asks for bank details for payment -either in the UK or overseas. You can always change the arrangement at any time either via a phone call or a letter.
The biggest fear at the moment for those some way off pension age is that the rules may be changed, and there may be a requirement to spend 6 months of the year in the UK. It has been mooted.
I personally like full control. My pension goes to my UK bank, and I move it here when I want it with TRANSFERWISE. Contrary to bank advice, with age, it is necessary to write down the PIN number. Only trouble then is remembering where you wrote it down!
But surely your are still some years off applying for pension. The form that needs to be completed some 3 months before your eligible date asks for bank details for payment -either in the UK or overseas. You can always change the arrangement at any time either via a phone call or a letter.
The biggest fear at the moment for those some way off pension age is that the rules may be changed, and there may be a requirement to spend 6 months of the year in the UK. It has been mooted.
I personally like full control. My pension goes to my UK bank, and I move it here when I want it with TRANSFERWISE. Contrary to bank advice, with age, it is necessary to write down the PIN number. Only trouble then is remembering where you wrote it down!
nomad97
Resident Geek
Ivor, what has not been mentioned is your eligibility for a UK pension. May I suggest you log on to the UK Government Gateway (https://www.gov.uk/log-in-register-hmrc-online-services) and check out the status of your pension. The rules keep changing but I think you now need only 30 years worth of contributions to recieve a full pension. A few years ago it was 44 years worth of contributions. The pension site will give you a review of what you have paid to date, year by year, and should offer you a chance to pay for any missed contributions. Working full time overseas I believe all you need to pay is 3rd Class Contributions. I you have contributed for more years than is required - tough. They do not offer or give any refunds.
Prakhonchai Nick
You chose a custom title
Think it is 35 annual contributions for full pension, with a minimum of 10
Ivor the Engine
Nowhere man
Yes, I am 6 years away but my recent problem (& 1st ever) made me think of alternatives.As Yorky said above YES.
But surely your are still some years off applying for pension. The form that needs to be completed some 3 months before your eligible date asks for bank details for payment -either in the UK or overseas. You can always change the arrangement at any time either via a phone call or a letter.
The biggest fear at the moment for those some way off pension age is that the rules may be changed, and there may be a requirement to spend 6 months of the year in the UK. It has been mooted.
I personally like full control. My pension goes to my UK bank, and I move it here when I want it with TRANSFERWISE. Contrary to bank advice, with age, it is necessary to write down the PIN number. Only trouble then is remembering where you wrote it down!
Oh, how I had wished I’d written down the 4 digit PIN number somewhere. I have tried various options including transferring fund to another persons account but failed at the last hurdle, which is the need to use ATM card in card-reader.
This has been a real (terrible) reminder as to just how important the bloody PIN number is. Plus at a time when I am not function at 100% either!!!!!
Thank you for your advice Guys!!!
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nomad97
Resident Geek
I was right! It is now only 30 years and I have lost a shed load of extra years contributions. Thieving bandits!
The earliest you can get the basic State Pension is when you reach State Pension age. To get the full basic State Pension you need a total of 30 qualifying years of National Insurance contributions or credits.
https://www.gov.uk/state-pension/eligibility
Ivor the Engine
Nowhere man
Hope is now 30 years as I think I’ve done 32 years but expect to have to top-up to 35 years for the maximum.
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Ivor the Engine
Nowhere man
CO-CO
Rather wrinkly & occasionally cantankerous member
Yes, and no, Nomad.
The present qualifying period is 35 years (increased by the government for those joining under the new State Pension rules after 6 April 2016). For those of us who made contributions before that date, the qualifying period is 30 years.
The old 40 year period is still used as a calculation in assessing things like Widowed Parents Allowance.
nomad97
Resident Geek
Well spotted. Very confusing.
Please read the full article especially if you are born after:
6 April 1951 if you’re a man
6 April 1953 if you’re a woman
If you were born on or after these dates you must claim the new State Pension.
Prakhonchai Nick
You chose a custom title
Yes and No CO-CO.
For those that are eligible for Bereavement Benefits, Widowed Parents Allowance, the 44 year rule is applied, albeit that no such payments are claimable from Thailand anymore
For state pensions - for any male claiming who was born prior to 6th April 1945 44 years NI contributions are needed for full pension. Otherwise as you say, above.
CO-CO
Rather wrinkly & occasionally cantankerous member
Prakhonchai Nick
You chose a custom title
So,.... where was the no?
"The old 40 year period is still used as a calculation in assessing things like Widowed Parents Allowance. " It is 44 years!
CO-CO
Rather wrinkly & occasionally cantankerous member
"The old 40 year period is still used as a calculation in assessing things like Widowed Parents Allowance. " It is 44 years!
Oops! .... thank you..... a typo, we have obviously worked with the /44ths calculation so I was aware of the number.
E
Eanto
Guest
Is it still possible to bar fine when you get your pension?