Location, location, location

Old May 15th 2011, 7:55 pm
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Default Re: Location, location, location

Originally Posted by Pistolpete2
I have to admit that I too am a bit confused about the implementation of the planned new pension rules.

HOWEVER, since I don't go pensionable age until 2016 I will wait until I see the media come out with something definitive later this year.

If they plan to withdraw mean testing and give everybody who has made the 30 years conts a full pension which roughly equates to the current pension plus the pension credit, what happens to those who have not made adequate pension provision? Do they bail them out anyway under some other sort of means testing? If they do, why pay contributions now to catch-up?
Yes, I believe that is how it will work, but only up to the minimum amount (what is it, about £135 a week???) - and I assume means testing will be used so that you won't get it if you are receiving £1,000 a month in US SS payments, for example.
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Old May 15th 2011, 7:55 pm
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Default Re: Location, location, location

Originally Posted by Pistolpete2
I only bring up such matters as Pension Credits because there are other people who might be entitled to a pension and therefore Pension Credits checking in on this "public" forum who we have to anticipate. This particularly as we started off with the 16,000 cap on savings.

If you are not near pensionable age it's irrelevant to you.

FYI, I personally always post extra details (if considered appropriate) for general purposes to make it broader use and not just in response to the person I'm quoting.
I appreciate that

Actually, I am near pension age. I am almost 59. I have worked 2-3 yrs in the UK and hope to work about 5 yrs there before retiring. One year from now, I can elect to receive a US company pension and I would like to use some of that to pay in extra years to the UK so that when I am 65 I can receive something at least.

The company pension, if I elect to receive it at 60, is not much - $635 a month, but it would be a nice amount to receive as safety net over in the UK beginning in my second year over there.

Also, when I am 62, I could elect to receive an early USA state pension. Of course, the longer I leave the USA state pension, the better. It's a nice sum though.

My focus is on making sure I am "covered" should the worst happen over there if I elect to go over there within the next year.

(Believe me, I am trying all ways to come up with a plan to get there sooner rather than later. It is causing no end of real headaches just trying to come up with a plan that works, too).

My half-sister over there has agreed to let me stay with her for a couple of months but I am really trying not to do that. It would drive me insane because she is very bossy and controlling. (She's proud of it, too!). She has an idea about everything and, of course, her way is the "right" way.

Another aspect that complicates this is having two small dogs and two cats, none of whom will be left behind in the USA. I just have to plan this move extra carefully. I might ship them over first actually. Trying to make sure paperwork is all correct for four pets and taking them all over at the same time will lead to an ulcer for me, I think. I can't take the chance of the paperwork for one of them not being correct upon landing at LHR.
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Old May 15th 2011, 8:01 pm
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Default Re: Location, location, location

Originally Posted by dunroving
We're getting slightly OT, but for people needing good financial/pension advice, the Which? guides to pensions and personal finance are pretty good (though at the rate things seem to be changing, they'll need to revise it every few months!).

Also, Martin's Money Tips site is an excellent suorce of advice:

http://www.moneysavingexpert.com/
Thanks. I have that link. I didn't know he covered pensions, though. Even so, Pete is right. The regulations are going to change so who know how things will look even a year from now - makes my decision even more stressful
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Old May 15th 2011, 8:04 pm
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Default Re: Location, location, location

Originally Posted by Pistolpete2
I have to admit that I too am a bit confused about the implementation of the planned new pension rules.

HOWEVER, since I don't go pensionable age until 2016 I will wait until I see the media come out with something definitive later this year.

If they plan to withdraw mean testing and give everybody who has made the 30 years conts a full pension which roughly equates to the current pension plus the pension credit, what happens to those who have not made adequate pension provision? Do they bail them out anyway under some other sort of means testing? If they do, why pay contributions now to catch-up?

Windsong, I don't think you get any State Pension based upon your contributions so it is a valid question as to what the State will provide for you in such circumstances.
Yes, I agree. Within the next few years, though, I hope to have worked/paid in 10 yrs to the UK system though. I've worked about three there - maybe a little more - and I will work for 5 yrs there and pay in the rest.

I just hope this doesn't affect any rent assistance that might be necessary over the next year or so (if I decide to make the move within the next year) if the worst should happen. I probably should call the people at that link you gave me and find out.

What do I need to give them so they can look up my records - is it my NHI number?

Last edited by windsong; May 15th 2011 at 8:06 pm.
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Old May 15th 2011, 8:21 pm
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Default Re: Location, location, location

Originally Posted by windsong
Yes, I agree. Within the next few years, though, I hope to have worked/paid in 10 yrs to the UK system though. I've worked about three there - maybe a little more - and I will work for 5 yrs there and pay in the rest.

I just hope this doesn't affect any rent assistance that might be necessary over the next year or so (if I decide to make the move within the next year) if the worst should happen. I probably should call the people at that link you gave me and find out.

What do I need to give them so they can look up my records - is it my NHI number?
It's your NI number (like:QQ 12 34 56 A), not to be confused with your NHS number.

Ok! I see this post and the earlier one on your plans. I'm not going to come at you on this windsong but IF you can show that you have a number of recent working years under your belt you need to get in touch with the UK National Pension Service soonest to get things sorted as much as you are financially able - like the rest of us who a scrambling to catch up, believe me.

They can serve up a Pension Forecast for you and tell you what you owe and you can usually then explain your US employment history get the Class 2 conts approved and pay those as a minimum. This all takes about three months or so.

http://www.direct.gov.uk/en/Pensions...st/DG_10014008

If you delay, payment windows may close on certain years, as I found out to my cost a while back.

Last edited by Pistolpete2; May 15th 2011 at 8:36 pm.
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Old May 15th 2011, 8:39 pm
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Default Re: Location, location, location

Originally Posted by Pistolpete2
It's your NI number, not to be confused with your NHS number.

Ok! I see this post and the earlier one on your plans. I'm not going to come at you on this windsong but IF you can show that you have a number of recent working years under your belt you need to get in touch with the UK National Pension Service soonest to get things sorted as much as you are financially able - like the rest of us who a scrambling to catch up, believe me.

They can serve up a Pension Forecast for you and tell you what you owe and you can usually then explain your US employment history get the Class 2 conts approved and pay those as a minimum. This all takes about three months or so.

http://www.direct.gov.uk/en/Pensions...st/DG_10014008

If you delay, payment windows may close on certain years, as I found out to my cost a while back.
Got it! I copied this and put t his on my list of contacts to make next week or the week after.

I have a small buff-colored card - just went to look - it's my NHS card with the number on it.

How do I get my NI number?
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Old May 15th 2011, 8:50 pm
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Default Re: Location, location, location

Originally Posted by windsong
Got it! I copied this and put t his on my list of contacts to make next week or the week after.

I have a small buff-colored card - just went to look - it's my NHS card with the number on it.

How do I get my NI number?
Uh Oh!

Normally you have to provide some history from when you lived in the UK, your last two known addresses and last two places of work before departure, as an addendum sheet to the filled out Forecast application. When you fill out the application you leave the NI number details blank or I guess put in UNK. I did this for my spouse a couple of months ago and they managed to find it ok.
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Old May 15th 2011, 9:09 pm
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Default Re: Location, location, location

Originally Posted by windsong
I have a small buff-colored card - just went to look - it's my NHS card with the number on it.

How do I get my NI number?
You can contact them. I think they are in Newcastle or some place up north. Someone gave their address on here about a year ago. I think you keep your number that you had when you worked in the UK years ago. You have the same situation as me-3 years worked prior to emigrating. I don't expect anything.

From what I have read on here the US Social Security is much, much better than the UK pensions. How do they, seniors, live on the UK pension money since its so small? Maybe I don't see the full picture.

My situation is I could pay cash for a home over there and then the Social Security will give me a credit/debit card to go to any ATM machine in the UK and draw out $$$$1600 per month for play money (council tax, food, electric, water, gas, repairs). So sweet!

Cheers
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Old May 15th 2011, 9:19 pm
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Default Re: Location, location, location

Originally Posted by cheers
You can contact them. I think they are in Newcastle or some place up north. Someone gave their address on here about a year ago. I think you keep your number that you had when you worked in the UK years ago. You have the same situation as me-3 years worked prior to emigrating. I don't expect anything.

From what I have read on here the US Social Security is much, much better than the UK pensions. How do they, seniors, live on the UK pension money since its so small? Maybe I don't see the full picture.

My situation is I could pay cash for a home over there and then the Social Security will give me a credit/debit card to go to any ATM machine in the UK and draw out $$$$1600 per month for play money (council tax, food, electric, water, gas, repairs). So sweet!

Cheers

Yes, that is sweet, Cheers. You ought to do it!!

Thankfully, I will get a pretty decent sum from the US state pension and I have a company pension, too.

My problem is that because I have stayed in the USA too long - ten years too long - it has really whittled away at my savings - and combine that with a few bad decisions, I won't be able to buy a home over there. I wish it were different but that's what it is.

I have come to terms with that but my problem is the time I first land over there - the first year perhaps - until I get settled - especially if I go over there within the next year (before state and company pensions kick in). Since I have to rent - and with pets - I need to be sure I get a good job and can fend for myself and not end up on the streets.
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Old May 15th 2011, 9:21 pm
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Default Re: Location, location, location

Originally Posted by Pistolpete2
Uh Oh!

Normally you have to provide some history from when you lived in the UK, your last two known addresses and last two places of work before departure, as an addendum sheet to the filled out Forecast application. When you fill out the application you leave the NI number details blank or I guess put in UNK. I did this for my spouse a couple of months ago and they managed to find it ok.
Tina, I just phoned them, they asked me a couple of questions (mother's maiden name, etc.) and gave me my NI number.
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Old May 15th 2011, 9:37 pm
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Default Re: Location, location, location

Originally Posted by bandrui
Tina, I just phoned them, they asked me a couple of questions (mother's maiden name, etc.) and gave me my NI number.
So whats the phone number?

Good tip!

Read your mail
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Old May 15th 2011, 9:48 pm
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Default Re: Location, location, location

Originally Posted by cheers
So whats the phone number?

Good tip!

Read your mail
http://www.direct.gov.uk/prod_consum.../dg_180219.pdf

includes the number:

44 191 218 3600 Pension Forecasting Team - and for NI number

44 191 203 7010 HMRC for Class 2 NICs

From what bandrui is saying, things have improved somewhat since the National Pension Service took over pension forecasting from HMRC (at year's end) who were inundated and slow as a result. So I guess more things can get done on the phone now. If you are trying to agree to pay Class 2 conts though you still have to negotiate with HMRC about it. Hence the second number above. Sometimes the two bodies do not talk to each other as well as we might expect so you have to resend (fax) the info to HMRC to get them up to speed.

What else do we have to do, apart from the weeding?

Last edited by Pistolpete2; May 15th 2011 at 9:59 pm.
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Old May 15th 2011, 10:48 pm
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Default Re: Location, location, location

Originally Posted by dunroving
Yes, I believe that is how it will work, but only up to the minimum amount (what is it, about £135 a week???) - and I assume means testing will be used so that you won't get it if you are receiving £1,000 a month in US SS payments, for example.
Although the details still have to be finalised, the higher rated UK state pension will not be means tested (as of now). The higher pension will apparently be financed by removing much of the beaurocracy.

Here are some details:

http://www.thisismoney.co.uk/pension...0&in_page_id=6

Last edited by johnh009; May 15th 2011 at 10:54 pm.
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Old May 15th 2011, 10:52 pm
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Default Re: Location, location, location

I think pensions worthy of their own thread.
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Old May 15th 2011, 10:59 pm
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Default Re: Location, location, location

Originally Posted by bandrui
I think pensions worthy of their own thread.
Quite right. I was only responding to someone's post; I don't want to be shot at dawn for going off topic. I believe this subject has been flogged to death somewhere on BE but it is in a state of flux.

Here is a bargain for those who don't like neighbours if you take into account what they call "hope value". Never heard of that before. Niced area though.

http://www.rightmove.co.uk/property-...-30029950.html

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