Frozen British Pensions

[saengd]

1 minute ago, Rookiescot said:

Option 2 is pure fairy tale.

More unicorns and rainbows from the Brexiteers.

Perhaps you can support your statement with some fact, a few instances of history or even your own version of economics theory as to why that's a fairy tale and what you think would happen to the Pound, rather than just chucking in those same time warn and weary phrases that litter the tabloids!

[scubascuba3]

6 minutes ago, Rookiescot said:

Option 2 is pure fairy tale.

More unicorns and rainbows from the Brexiteers.

Option 2 is the most likely outcome, why do you think it's a fairy tale?

[DannyCarlton]

12 minutes ago, saengd said:

And "current level" means what.....my current level is based on the old system, a maximum of about 129 Pounds per week. A person in a different age group would belong to the new system which is much higher, around 165 Pounds as I recall. So to suggest that all expats would be brought up to the new rate is simply ludicrous.

It would be based on trhe same system as everyone else. Max £165.

[Rookiescot]

7 minutes ago, saengd said:

Perhaps you can support your statement with some fact, a few instances of history or even your own version of economics theory as to why that's a fairy tale and what you think would happen to the Pound, rather than just chucking in those same time warn and weary phrases that litter the tabloids!

You are unaware of the projected outcomes for the UK economy when ANY form of Brexit is delivered?

Seriously?

https://www.bbc.com/news/business-50219036

 

And thats from the Conservative Partys media wing. Also known as the BBC.

[Rookiescot]

8 minutes ago, scubascuba3 said:

Option 2 is the most likely outcome, why do you think it's a fairy tale?

See my reply above 

 

[saengd]

3 minutes ago, DannyCarlton said:

It would be based on trhe same system as everyone else. Max £165.

My max. is 129 Pounds per week regardless of whether I'm onshore, offshore next door or ninety four! Somebody else's max. is 165 Pounds per week, why would all expats be uprated to 165 Pounds when many onshore residents are capped at 129 Pounds? It's ridiculous.

[DannyCarlton]

Just now, saengd said:

My max. is 129 Pounds per week regardless of whether I'm onshore, offshore next door or ninety four! Somebody else's max. is 165 Pounds per week, why would all expats be uprated to 165 Pounds when many onshore residents are capped at 129 Pounds? It's ridiculous.

I'm not aware of anyone pegged at £129 unless the don't have the required number of NI contributions.

[saengd]

Just now, DannyCarlton said:

I'm not aware of anyone pegged at £129 unless the don't have the required number of NI contributions.

My apologies, I should have said 135 Pounds per week. But the same arguments apply. 

 

Note: yes, my contributions are very slightly under the max for my age group because I missed one or two years contributions hence 129 Pounds.

[potless]

3 minutes ago, DannyCarlton said:

As clear as mud to me. I can only say that if you return to the UK your pension becomes unfrozen and you immediately recieve the full pension at the same rate as everyone else.

People are receiving different amounts of pension depending mainly on their N.I. contributions and the date they actually retired. There is only a maximum pension as opposed to a set rate for everyone. P.S. I have sent you a P.M. regarding British Embassy questions.

[Bangkok Barry]

10 hours ago, worgeordie said:

It's sort of a promise, then when Labour (if they win),try to find

all the money they need for all their other promises,it will be

put on hold.we seem to be the forgotten ones.

regards worgeordie

 

What will happen is what always happens. The new government, in this case it would be Labour but it works the other way too, will declare that the previous administration left the economy in such dire straits that sorry, we'll have to put our own plans on hold until we've fixed it.

[ivor bigun]

If any of you really think any govt is going to uprate your pensions ,then you believe it when a hooker down soi 6 says your a "hansom man" while standing there in your sweat stained vest and shorts ,????

[DannyCarlton]

1 minute ago, saengd said:

My apologies, I should have said 135 Pounds per week. But the same arguments apply. 

 

Note: yes, my contributions are very slightly under the max for my age group because I missed one or two years contributions hence 129 Pounds.

It's a simple process to make up your contributions shortfall to recieve the full pension.

 

Note: Originally, the max contributions required was 44 years. The Labour government reduced it to 30 but the Tories raised it again to 35 years, it's current level.

[worgeordie]

12 minutes ago, saengd said:

My max. is 129 Pounds per week regardless of whether I'm onshore, offshore next door or ninety four! Somebody else's max. is 165 Pounds per week, why would all expats be uprated to 165 Pounds when many onshore residents are capped at 129 Pounds? It's ridiculous.

Your lucky,I Only get 90 quid a week.

regards Worgeordie

[saengd]

Just now, DannyCarlton said:

It's a simple process to make up your contributions shortfall to recieve the full pension.

 

Note: Originally, the max contributions required was 44 years. The Labour government reduced it to 30 but the Tories raised it again to 35 years, it's current level.

I'm 70 years old, it's a bit late for me to be making up missed payments!

 

But for those who are under the pension age and can make up missed payments it's a smart thing to do because it's cheap money. 

[DannyCarlton]

4 minutes ago, worgeordie said:

Your lucky,I Only get 90 quid a week.

regards Worgeordie

Vote Labour. Kerrching!

[ianh68]

1 hour ago, saengd said:

Option 1:

 

Labour gets in and uprates all the overseas pensions,

But the Pound heads seriously South based on Labour spending plans and the GBP/THB ex-rate sinks,

Net effect on overseas pensioners is a loss,

A bad voting move if increased income is your end game.

 

Option 2

 

Bojo gets a majority,

Markets regain confidence,

Pound increases in value,

GBP/THB ex-rate improves.

As a resident expat this option would get my vote.

 

 

Well put. "If increased income is your end game" and your predictions are correct who can argue? Whether the pound heads South and if so for how long under Labour is a moot point. More years of Tory rule does not guarantee a healthy economy or, just as importantly (for there is more than one end game) a healthy society.

[ianh68]

1 hour ago, twix38 said:

Is there nothing Corbyn won't promise to get elected!

 

The guy is a danger to the economy.

 

A reckless man focused on giveaways to bribe voters. It would all end in tears if he's elected.

It is worth remembering that the Labour Manifesto is not just the product of Jeremy Corbyn's brain - it is a distillation of policy democratically decided at Labour Party conference.

[ianh68]

1 hour ago, saengd said:

It says, "uprate state pensions of expats overseas", it doesn't say increase state pension for overseas expats to new pension levels. Think about it, if expat pensions were increased to the new level they would be higher than a majority of UK resident pensioners!

That's what I have been saying. Thanks.

[ianh68]

1 hour ago, vogie said:

By who, Dianne Abbott? Corbyn is adding to his rediculous manifesto daily.

John McDonnell is the shadow chancellor - it is his job. A manifesto cannot go into detail for every election pledge otherwise it would be thousands of pages long. What you are referring to are not additions but explanations.

[maxcorrigan]

1 hour ago, saengd said:

Not quite.

 

For example, my UK state pension was frozen at 110 Pounds per week when I left the UK to live in Thailand. Two years ago, when I declared myself UK resident once again, DWP started to pay me all of the increases I had not received since I left the UK hence my pension was increased to 125 Pounds per week.

Yes but how i understand it is, if you came back to live in Thailand again your pension would go back to when you first left £110, correct me if i'm wrong!                                                                 And as a side note if you left Thailand and went to live in the Phillopeans (SP) where pensions are not frozen would you still get all the increases?

[ianh68]

1 hour ago, saengd said:

In your dreams, only in your dreams. Numeracy is not your strong point, we can tell!

Apologies. I should have said income tax increases.

[DannyCarlton]

54 minutes ago, saengd said:

I have read Page 22 and my answer is exactly the same, there is absolutely nothing in there to support what you claim, if you think there is you best quote it here so we can all see.

And there's nothing in there that goes against his claim. If there is you'd best quote it here so we can all see.

[ianh68]

1 hour ago, saengd said:

Beyond deluded, if you were an American you would have voted for Trump I imagine.

Wrong again, Bernie Sanders.

[ianh68]

1 hour ago, saengd said:

I have read Page 22 and my answer is exactly the same, there is absolutely nothing in there to support what you claim, if you think there is you best quote it here so we can all see.

There is sufficient confusion here to merit an authoritative statement from the Labour Party. I will request one and post it on this forum.

[saengd]

5 minutes ago, maxcorrigan said:

Yes but how i understand it is, if you came back to live in Thailand again your pension would go back to when you first left £110, correct me if i'm wrong!                                                                 And as a side note if you left Thailand and went to live in the Phillopeans (SP) where pensions are not frozen would you still get all the increases?

You are incorrect on the first point but correct on the second point.

 

I suppose if you made yourself UK resident and then the very next day went back to Thailand, they might have something to say about that and your pension might revert. But if you file a tax return or two inbetween then all should be good.

[Tropicalevo]

12 hours ago, vogie said:

Yes, vote for the everything is free party, a four day week, free broadband, only today Labour anounced that it would cut a third off rail travel. Remember folks this is a once in a life time opportunity, it doesn't have to be paid for, it is all free. Labour will plant 2 billion trees, everything is free under Labour, you'd be a fool not to vote Labour and they're coming to take me away ha ha hee hee, to the funny farm where life is beautiful all the time...................

Great post thank you. Made my morning.

With additional thanks to Napoleon XIV.

[wwest5829]

Just wish my British Cousins the best of luck. We are also coming up on an election but in 2020. The decision will be made whether the USA will continue its current madness or if the working middle class will vote en masses to have its economic squeeze addressed. Hearing the same argument from conservatives here that Sanders is promising “free” stuff rather than accurately saying we want the taxes we pay going to benefit the citizens rather than subsidies for the wealthy and blowing stuff up. I know, many things different but the political debate as to where to strike a balance appears to have similarities. By the by ... our US Social Security raises (if any) goes up for all globally.

[ianh68]

38 minutes ago, saengd said:

My apologies, I should have said 135 Pounds per week. But the same arguments apply. 

 

Note: yes, my contributions are very slightly under the max for my age group because I missed one or two years contributions hence 129 Pounds.

I retired in 2007 with a full contribution record. I am pegged at £114.62 per week.

[saengd]

1 hour ago, ianh68 said:

Income tax will only be levied on the top 5%

Have you ever stopped to think about how the country pays for the status quo? If not have you ever stopped to think about how taxes are spent currently? If you do one or the other and then you remove the current tax base from the income stream and replace it with just the top 5% of earners only, will that really compensate? Well yes, perhaps, as long as those 5% stand still and do nothing, don't move their assets overseas or don't leave the country. Would you do that if you were in that 5%!

[DannyCarlton]

2 hours ago, saengd said:

Option 1:

 

Labour gets in and uprates all the overseas pensions,

But the Pound heads seriously South based on Labour spending plans and the GBP/THB ex-rate sinks,

Net effect on overseas pensioners is a loss,

A bad voting move if increased income is your end game.

 

Option 2

 

Bojo gets a majority,

Markets regain confidence,

Pound increases in value,

GBP/THB ex-rate improves.

As a resident expat this option would get my vote.

 

 

 

1 hour ago, saengd said:

Perhaps you can support your statement with some fact, a few instances of history or even your own version of economics theory as to why that's a fairy tale and what you think would happen to the Pound, rather than just chucking in those same time warn and weary phrases that litter the tabloids!

Back at ya! Never read such an unsubstantiated load of nonsense as your first post. Are you going to support it with some facts?