UK state pension freeze – some comfort
Apr 11th 2005, 1:23 pm
#1
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Posts: 150
UK state pension freeze – some comfort
For those of you worried the frozen State Pension there is some news to offset its effects. From last week it is possible to delay taking the pension for any period for a minimum of one year. During deferment the pension grows at base rate plus 2%. When the deferment period is over you can take either a lump sum and the pension at the current rate or the increased pension.
So this goes some way towards being able to get a pension at a higher rate than at 65 although the resulting pension taken later will still be frozen.
So this goes some way towards being able to get a pension at a higher rate than at 65 although the resulting pension taken later will still be frozen.
Apr 11th 2005, 6:27 pm
#2
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: UK state pension freeze – some comfort
Originally Posted by jumbo
For those of you worried the frozen State Pension there is some news to offset its effects. From last week it is possible to delay taking the pension for any period for a minimum of one year. During deferment the pension grows at base rate plus 2%. When the deferment period is over you can take either a lump sum and the pension at the current rate or the increased pension.
So this goes some way towards being able to get a pension at a higher rate than at 65 although the resulting pension taken later will still be frozen.
So this goes some way towards being able to get a pension at a higher rate than at 65 although the resulting pension taken later will still be frozen.
http://www.completeframing.com.au/BPIA/
G
Apr 11th 2005, 6:31 pm
#3
An Australian Citizen !!
Joined: Aug 2004
Location: Terrigal - NSW Central Coast since June 2005
Posts: 1,237
Re: UK state pension freeze – some comfort
Originally Posted by Grayling
If, and its a large if, there is a change of government here next month it might just reopen the debate regarding this anomaly.
I am not holding out much hope, however, of either !!
Jim
Apr 11th 2005, 11:29 pm
#4
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Posts: n/a
Re: UK state pension freeze – some comfort
Something else of interest regarding pensions:
From March 2000, any new migrant must have 10 years of residence in Australia before becoming eligible for the Australian Retirement pension.
From March 2000, any new migrant must have 10 years of residence in Australia before becoming eligible for the Australian Retirement pension.
Apr 12th 2005, 8:26 am
#5
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Location: Terrigal - NSW Central Coast since June 2005
Posts: 1,237
Re: UK state pension freeze – some comfort
Originally Posted by ABCDiamond
Something else of interest regarding pensions:
From March 2000, any new migrant must have 10 years of residence in Australia before becoming eligible for the Australian Retirement pension.
From March 2000, any new migrant must have 10 years of residence in Australia before becoming eligible for the Australian Retirement pension.
Yep.......... was aware of that one also!!
Mind you, I hate to think what mess all the "western" countries state retirement pension systems will be in 20 years time. I probably won't be around to find out!
Jim
Apr 12th 2005, 8:31 am
#6
An Australian Citizen !!
Joined: Aug 2004
Location: Terrigal - NSW Central Coast since June 2005
Posts: 1,237
Re: UK state pension freeze – some comfort
Originally Posted by jumbo
For those of you worried the frozen State Pension there is some news to offset its effects. From last week it is possible to delay taking the pension for any period for a minimum of one year. During deferment the pension grows at base rate plus 2%. When the deferment period is over you can take either a lump sum and the pension at the current rate or the increased pension.
So this goes some way towards being able to get a pension at a higher rate than at 65 although the resulting pension taken later will still be frozen.
So this goes some way towards being able to get a pension at a higher rate than at 65 although the resulting pension taken later will still be frozen.
My motto with anything "awarded" by the government is "have it now - tomorrow may be too late".
Might be the wrong "attitude" but I'll take my chance with that!
Regards
Jim
Apr 14th 2005, 1:56 pm
#7
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Joined: Dec 2003
Posts: 150
Re: UK state pension freeze – some comfort
Originally Posted by Jimclevs
This, of course, is wonderful news unless you happen to die before drawing any of your pension, which, presumably the government is hoping may be the case and, of course, they have been able to invest your unpaid pension in whatever other way they wish.
My motto with anything "awarded" by the government is "have it now - tomorrow may be too late".
Might be the wrong "attitude" but I'll take my chance with that!
Regards
Jim
My motto with anything "awarded" by the government is "have it now - tomorrow may be too late".
Might be the wrong "attitude" but I'll take my chance with that!
Regards
Jim
