Taking British Company Pensions to Spain
#16
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Joined: Jun 2006
Posts: 445
Re: Taking British Company Pensions to Spain
Originally Posted by Hillybilly
It's called Club Senior
http://195.235.201.47/pbanking/savin...nior&pb=saving
http://195.235.201.47/pbanking/savin...nior&pb=saving
#17
Banned
Joined: Sep 2006
Location: Kent UK
Posts: 292
Re: Taking British Company Pensions to Spain
Excuse me for asking what is the current British pension for single and married people .. as i havent got a clue and would be nice to know for when i do retire..
#18
Re: Taking British Company Pensions to Spain
Hi Bossman-kent,
The current full basic rate for a single person at 60 (Women), 65(Men) is £84.26. I think a married couple get £120 when the man is 65.
Regards,
John.
The current full basic rate for a single person at 60 (Women), 65(Men) is £84.26. I think a married couple get £120 when the man is 65.
Regards,
John.
Originally Posted by Bossman-kent
Excuse me for asking what is the current British pension for single and married people .. as i havent got a clue and would be nice to know for when i do retire..
Last edited by EsuriJohn; Sep 26th 2006 at 7:49 am.
#19
Banned
Joined: Sep 2006
Location: Kent UK
Posts: 292
Re: Taking British Company Pensions to Spain
Originally Posted by John & Kath
Hi Bossman-kent,
The current full basic rate for a single person at 60 (Women), 65(Men) is £84.26. I think a married couple get £120 when the man is 65.
Regards,
John.
The current full basic rate for a single person at 60 (Women), 65(Men) is £84.26. I think a married couple get £120 when the man is 65.
Regards,
John.
Thanks for that John ;
and your supposed to live on that !!! pathetic isnt it ... All our old folk who went through world war 2 ... now struggling on that a disgrace i think ..
Mind you do get a bus pass i guess hmmmmmmmm dont know what they could buy from the shops without money but maybe they can just sit on the bus all day .
#20
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Joined: Aug 2006
Location: Velez-Malaga
Posts: 4,920
Re: Taking British Company Pensions to Spain
If your only source of income is the Basic State Pension, you are also entitled claim Pension Credit which currently increases your income to £114.05 per week if you are single or £174.05 if you have a partner.
The Pension Service website also says"if you are over 65 you may be rewarded for saving for your retirement up to £17.55 if you are single or £23.58 if you have a partner".
I believe being in receipt of Pension Credit also entitles you to reductions in Council Tax.
My aunt, a single pensioner in her '80s living in her own home, tells me she has never been so well off (honestly!). She gets the Winter Fuel Allowance and free TV licence also.
The Pension Service website also says"if you are over 65 you may be rewarded for saving for your retirement up to £17.55 if you are single or £23.58 if you have a partner".
I believe being in receipt of Pension Credit also entitles you to reductions in Council Tax.
My aunt, a single pensioner in her '80s living in her own home, tells me she has never been so well off (honestly!). She gets the Winter Fuel Allowance and free TV licence also.
#21
Forum Regular
Joined: Aug 2005
Location: El Cotin, Chiclana
Posts: 297
Re: Taking British Company Pensions to Spain
Originally Posted by Solarwhizz
By far the best way to get regular payments ( IE pension) would be to go thru a Specialist, and set the rate for up to two years ( always best to do this when the rate is good, IE I managed to set mine in Nov 2002 for 12 months at 1.495), which turned out to be a great deal, given that the EU dropped away to about 1.41 thruout 2003/2004, today it has risen again to about 1.47 or 1.48, a good time to start thinking about setting a top rate for as long as you can (MAYBE!!). Whatever happens dont use the high street clearing banks in the UK, in my view, legalised robbery on currency exchanges
For anyone else wondering I did phone HIFX today and they said that they could offer approx 1.4 - 1.42 fixed exchange rate for two years. I expect you may get more if you fix for less time??
I was expecting a better rate that that, I would be interested to know what rate anyone got who fixed over the last couple of years.
When we bought our property here in Spain my own UK bank offered a much higher exchange rate than any of the currency brokers so I do think it is important to shop around.
Yvonne
#22
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Joined: Nov 2003
Location: Chiclana
Posts: 3,327
Re: Taking British Company Pensions to Spain
Originally Posted by YMF
We generally transfer money through our Spanish Bank and get a reasonable rate with no charges but have wondered about setting a rate for monthly transfers.
For anyone else wondering I did phone HIFX today and they said that they could offer approx 1.4 - 1.42 fixed exchange rate for two years. I expect you may get more if you fix for less time??
I was expecting a better rate that that, I would be interested to know what rate anyone got who fixed over the last couple of years.
When we bought our property here in Spain my own UK bank offered a much higher exchange rate than any of the currency brokers so I do think it is important to shop around.
Yvonne
For anyone else wondering I did phone HIFX today and they said that they could offer approx 1.4 - 1.42 fixed exchange rate for two years. I expect you may get more if you fix for less time??
I was expecting a better rate that that, I would be interested to know what rate anyone got who fixed over the last couple of years.
When we bought our property here in Spain my own UK bank offered a much higher exchange rate than any of the currency brokers so I do think it is important to shop around.
Yvonne
Our friends have just gone with Currency Direct which is a variable amount each month. They definitely seem to get a better rate that 1.42.
#23
Banned
Joined: Sep 2006
Location: Kent UK
Posts: 292
Re: Taking British Company Pensions to Spain
Originally Posted by Lynn R
If your only source of income is the Basic State Pension, you are also entitled claim Pension Credit which currently increases your income to £114.05 per week if you are single or £174.05 if you have a partner.
The Pension Service website also says"if you are over 65 you may be rewarded for saving for your retirement up to £17.55 if you are single or £23.58 if you have a partner".
I believe being in receipt of Pension Credit also entitles you to reductions in Council Tax.
My aunt, a single pensioner in her '80s living in her own home, tells me she has never been so well off (honestly!). She gets the Winter Fuel Allowance and free TV licence also.
The Pension Service website also says"if you are over 65 you may be rewarded for saving for your retirement up to £17.55 if you are single or £23.58 if you have a partner".
I believe being in receipt of Pension Credit also entitles you to reductions in Council Tax.
My aunt, a single pensioner in her '80s living in her own home, tells me she has never been so well off (honestly!). She gets the Winter Fuel Allowance and free TV licence also.
Hmmmmmmm ok thanks for that young lady ..
May not be so bad then well thats a relief anyways ..Still a few years away from retiring but was just curious and yep reckon could survive on that no probs ..
Hmmmmm just had a thought i guess once again your best not to save for retirement as assume the credit scheme like most the government things translates to say those that p*** there money away and dont save ! we help ,,but if you save you wont need there money so you wont get it ?? lol
Last edited by Bossman-kent; Sep 28th 2006 at 8:54 pm.
#24
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Joined: Jul 2006
Location: warwickshire.
Posts: 339
Re: Taking British Company Pensions to Spain
Originally Posted by Bossman-kent
Hmmmmmmm ok thanks for that young lady ..
May not be so bad then well thats a relief anyways ..Still a few years away from retiring but was just curious and yep reckon could survive on that no probs ..
Hmmmmm just had a thought i guess once again your best not to save for retirement as assume the credit scheme like most the government things translates to say those that p*** there money away and dont save ! we help ,,but if you save you wont need there money so you wont get it ?? lol
May not be so bad then well thats a relief anyways ..Still a few years away from retiring but was just curious and yep reckon could survive on that no probs ..
Hmmmmm just had a thought i guess once again your best not to save for retirement as assume the credit scheme like most the government things translates to say those that p*** there money away and dont save ! we help ,,but if you save you wont need there money so you wont get it ?? lol
John..
#25
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Joined: Aug 2006
Location: Velez-Malaga
Posts: 4,920
Re: Taking British Company Pensions to Spain
Wow, it's not often I get called "young lady" these days!
#26
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Location: Velez-Malaga
Posts: 4,920
Re: Taking British Company Pensions to Spain
I should add, though that people who have no savings haven't necessarily frittered all their money away on purpose in order to rely on the taxpayer in their old age. My aunt who I mentioned in my previous post never married and gave up her job in her early '40s to care for my grandfather who lost his sight suddenly. Therefore she didn't have to chance to save and hadn't paid enough NI contributions to claim a full State Pension (this was in the days before your contributions were credited if you have caring responsibilities and there was no such thing as Attendance Allowance, Disability Living Allowance etc as there is now). In fact she saved the taxpayer a fortune because if she hadn't looked after my grandfather for many years he would have had to go into a home. So please spare a thought for those in genuine hardship and don't believe the stereotyping peddled by the Daily Mail and others of that ilk!
#27
Banned
Joined: Sep 2006
Location: Kent UK
Posts: 292
Re: Taking British Company Pensions to Spain
Originally Posted by Lynn R
I should add, though that people who have no savings haven't necessarily frittered all their money away on purpose in order to rely on the taxpayer in their old age. My aunt who I mentioned in my previous post never married and gave up her job in her early '40s to care for my grandfather who lost his sight suddenly. Therefore she didn't have to chance to save and hadn't paid enough NI contributions to claim a full State Pension (this was in the days before your contributions were credited if you have caring responsibilities and there was no such thing as Attendance Allowance, Disability Living Allowance etc as there is now). In fact she saved the taxpayer a fortune because if she hadn't looked after my grandfather for many years he would have had to go into a home. So please spare a thought for those in genuine hardship and don't believe the stereotyping peddled by the Daily Mail and others of that ilk!
Oh yes i know that there is circumstances ,
Does the value of your home have any relevance ? or is it just savings as in money in the bank etc.. ??
In my plannings i feel a huge spending spree coming on to ensure i only have £ 5,999 remainning lol
Thanks for the info , like i said havent really thought about pensions but now getting older need to start planning ..
#28
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Joined: Jul 2006
Location: warwickshire.
Posts: 339
Re: Taking British Company Pensions to Spain
Originally Posted by Bossman-kent
Oh yes i know that there is circumstances ,
Does the value of your home have any relevance ? or is it just savings as in money in the bank etc.. ??
In my plannings i feel a huge spending spree coming on to ensure i only have £ 5,999 remainning lol
Thanks for the info , like i said havent really thought about pensions but now getting older need to start planning ..
Does the value of your home have any relevance ? or is it just savings as in money in the bank etc.. ??
In my plannings i feel a huge spending spree coming on to ensure i only have £ 5,999 remainning lol
Thanks for the info , like i said havent really thought about pensions but now getting older need to start planning ..
John.