Over 40's Moving Back and Catching Up
Dec 7th 2013, 1:14 pm
#9196
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Joined: Jun 2009
Location: Phibun Mangsahan Ubon Province Thailand.
Posts: 1,073
Re: Over 40's Moving Back and Catching Up
watching this one
Based on those who currently get the full state pension of £110.15 per week. there will be three yearly increases before the new flat rate pension kicks in. Since the government has a promise to increase the state pension 2.5% each year, then those who currently collect it will be getting ~£119.48 per week at the time of the flat rate pension which is a shortfall of £24.52 to those that have 35 years that end up with the new flat rate pension of £144 per week.
Under the current rules of 30 NIC years to full state pension, the government says a year of NIC gets you ~3% of state pension. Since the difference of the new pension is off by £24.52 & based on the proposal to allow further top up, I'm figuring current pensioner will need to either
a) top up 5 years of NIC to the new 35 NIC years of NIC rules for full pension
B) an amount unknown but likely to be somewhere between 5 - 8 years of NIC's
If its a top up of 5 years of NIC at class 5 x £750/yr = £3750, divided by the additional £24.52/wk, the payback is ~153 weeks or approx 3 years.
I'm wondering if it all comes about whether the government will contact current pensioners or keep them in the dark about the option to get an increased state pension by additional NIC top up?
Wait & see, but it looks interesting
Based on those who currently get the full state pension of £110.15 per week. there will be three yearly increases before the new flat rate pension kicks in. Since the government has a promise to increase the state pension 2.5% each year, then those who currently collect it will be getting ~£119.48 per week at the time of the flat rate pension which is a shortfall of £24.52 to those that have 35 years that end up with the new flat rate pension of £144 per week.
Under the current rules of 30 NIC years to full state pension, the government says a year of NIC gets you ~3% of state pension. Since the difference of the new pension is off by £24.52 & based on the proposal to allow further top up, I'm figuring current pensioner will need to either
a) top up 5 years of NIC to the new 35 NIC years of NIC rules for full pension
B) an amount unknown but likely to be somewhere between 5 - 8 years of NIC's
If its a top up of 5 years of NIC at class 5 x £750/yr = £3750, divided by the additional £24.52/wk, the payback is ~153 weeks or approx 3 years.
I'm wondering if it all comes about whether the government will contact current pensioners or keep them in the dark about the option to get an increased state pension by additional NIC top up?
Wait & see, but it looks interesting
Dec 7th 2013, 10:29 pm
#9197
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Thread Starter
Joined: Aug 2010
Location: US
Posts: 4,224
Re: Over 40's Moving Back and Catching Up
Steady snow fall here in Saint George for the last 12 hours and still coming down. This is the most snow I've seen since I moved here about 7 years ago.
Cheers
Cheers
Dec 7th 2013, 11:17 pm
#9198
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Joined: Jun 2010
Location: Belfast, Northern Ireland UK again!
Posts: 1,085
Re: Over 40's Moving Back and Catching Up
We've been below 32F since lunchtime Thursday. We have not been outside at all. Not snow but freezing rain. 17F last night. Will not get up to 32F until Monday and just for a couple of hours. Lots of tree damage due to the weight of ice. Cosy indoors though in front of the fire.
Dec 7th 2013, 11:35 pm
#9199
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Joined: Feb 2010
Posts: 2,606
Re: Over 40's Moving Back and Catching Up
We had Snow yesterday, its rare, even had it on the beaches, its around 20 degrees, we wont see above freezing until Wednesday at the earliest.
Dec 8th 2013, 1:39 am
#9200
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Joined: Aug 2010
Location: US
Posts: 4,224
Re: Over 40's Moving Back and Catching Up
So is Charley girl back in New Hampshire?
Dec 8th 2013, 8:06 am
#9201
Finally Home!
Joined: Mar 2010
Location: Used to be New York, now North Yorkshire
Posts: 3,610
Re: Over 40's Moving Back and Catching Up
No snow here, just good old Pennine weather - grey skies, blustery winds, showers, and the occasional hail storm (that usually happens when I'm halfway round on my 4 mile walk circuit and so I have to huddle against a tree to avoid getting stung by the pellets!)
Dec 8th 2013, 10:56 pm
#9202
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Joined: May 2012
Location: South Bucks
Posts: 1,654
Re: Over 40's Moving Back and Catching Up
Have had snow here on the ground from Thursday, very cold at -9deg and clear blue skies no sign of it warming up this week and maybe more on the way this coming Thursday 
Dec 9th 2013, 1:34 pm
#9203
Forum Regular
Joined: Jun 2013
Posts: 50
Re: Over 40's Moving Back and Catching Up
Hello Everyone, thank you for the well wishes. I arrived late Thursday... lovely to be met by my daughters, son was working.. I have to admit to feeling very overwhelmed and have thought many times already Oh god what have I done.. but already I have helped my daughter out with some issues.. spent some time with all 3 of them.. I have wonderful friends that I am staying with.. but feel very lost actually. Woke to snow yesterday.. and my heart sank. I am in New Hampshire though so knew it was going to happen and today more snow.. Not feeling good about much at the moment but it is early. I have to get a car, with limited cash and a job pretty soon...Depressed would describe my mood..but time will tell.
It is really tough being an Expat..
It is really tough being an Expat..
Dec 9th 2013, 2:38 pm
#9204
BE Enthusiast
Joined: Aug 2008
Location: Falmouth, Cornwall
Posts: 432
Re: Over 40's Moving Back and Catching Up
Hello Everyone, thank you for the well wishes. I arrived late Thursday... lovely to be met by my daughters, son was working.. I have to admit to feeling very overwhelmed and have thought many times already Oh god what have I done.. but already I have helped my daughter out with some issues.. spent some time with all 3 of them.. I have wonderful friends that I am staying with.. but feel very lost actually. Woke to snow yesterday.. and my heart sank. I am in New Hampshire though so knew it was going to happen and today more snow.. Not feeling good about much at the moment but it is early. I have to get a car, with limited cash and a job pretty soon...Depressed would describe my mood..but time will tell.
It is really tough being an Expat..
It is really tough being an Expat..
Dec 9th 2013, 2:40 pm
#9205
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Joined: Jan 2011
Location: A Proud Height, Northumberland UK
Posts: 1,163
Re: Over 40's Moving Back and Catching Up
Good to hear from you Denise and that you arrived safely. Hope you're enjoying time with the kids and feeling a little more settled very soon. 
Dec 9th 2013, 3:05 pm
#9206
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Joined: Feb 2010
Posts: 2,606
Re: Over 40's Moving Back and Catching Up
Hello Everyone, thank you for the well wishes. I arrived late Thursday... lovely to be met by my daughters, son was working.. I have to admit to feeling very overwhelmed and have thought many times already Oh god what have I done.. but already I have helped my daughter out with some issues.. spent some time with all 3 of them.. I have wonderful friends that I am staying with.. but feel very lost actually. Woke to snow yesterday.. and my heart sank. I am in New Hampshire though so knew it was going to happen and today more snow.. Not feeling good about much at the moment but it is early. I have to get a car, with limited cash and a job pretty soon...Depressed would describe my mood..but time will tell.
It is really tough being an Expat..
It is really tough being an Expat..
I was depressed when I came back in 90, it lasted for many months, everyone was happy to see me, I was happy to see them but didnt want to be here.
Life is tough sometimes, just take it day by day and eventually it will all work out.
Dec 9th 2013, 7:49 pm
#9207
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Joined: Sep 2009
Posts: 1,197
Re: Over 40's Moving Back and Catching Up
Good luck Charley/Lester/Denise,
hope the re-adjustment goes smoothly. It's great that you've already made a difference in your kids' lives and helped your daughter. That was the reason for going back, after all.
Good luck with the next steps and do keep us posted. You're still an expat and belong on this forum!! (Though of course returnees to UK know we love to hear from them as well. Eastern Dawn??????)
I wonder if you'll get a chance to be in touch with Trotty up there in NH?
If so do let her know she is often mentioned here and we all wish her and her DH well and hope all is ok with them.
hope the re-adjustment goes smoothly. It's great that you've already made a difference in your kids' lives and helped your daughter. That was the reason for going back, after all.
Good luck with the next steps and do keep us posted. You're still an expat and belong on this forum!! (Though of course returnees to UK know we love to hear from them as well. Eastern Dawn??????)
I wonder if you'll get a chance to be in touch with Trotty up there in NH?
If so do let her know she is often mentioned here and we all wish her and her DH well and hope all is ok with them.
Dec 9th 2013, 9:43 pm
#9208
Ping-ponger
Joined: Jul 2002
Location: Dreich Alba
Posts: 12,006
Re: Over 40's Moving Back and Catching Up
Hello Everyone, thank you for the well wishes. I arrived late Thursday... lovely to be met by my daughters, son was working.. I have to admit to feeling very overwhelmed and have thought many times already Oh god what have I done.. but already I have helped my daughter out with some issues.. spent some time with all 3 of them.. I have wonderful friends that I am staying with.. but feel very lost actually. Woke to snow yesterday.. and my heart sank. I am in New Hampshire though so knew it was going to happen and today more snow.. Not feeling good about much at the moment but it is early. I have to get a car, with limited cash and a job pretty soon...Depressed would describe my mood..but time will tell.
It is really tough being an Expat..
It is really tough being an Expat..
It'll all work in the end, make the most of the positives - being with important people who are kind to you and want to be in your company. Onwards and upwards!
Dec 10th 2013, 2:59 am
#9209
`
Joined: Oct 2003
Posts: 38,613
Re: Over 40's Moving Back and Catching Up
Anyone with Christmas avatars in here please?
I don't see any.
I don't see any.