If you are old enough to remember Big Joe Kernan and Jimmy Keaveney both scoring 2 goals in the same AI final then you should attend to your pension. There is an article in the Sindo today about this.
If you are from the 6 counties or worked there or in Britain and have not been working there for the last couple of decades then you can buy UK State pension contributions from 2006 until July, after that you can only buy 6 years. So this would suit people who moved away or people working in England etc in the past. This would be like buying an index linked annuity from age 67 except it is only a fraction of price. You only get paid from age 67 but then you could get the cost back in less than 5 years and if you live for another 20 years you'll liberate the UK exchequer of quite a bit more than you paid.
Check out your present situation https://www.gov.uk/check-national-insurance-record
you can use a passport for ID purposes and it helps to have your old national insurance number to hand.
Worth checking if you are somewhere near reaching the age required and haven't been working in the UK lately, but did before 2006.
I'd echo that. I did six years in London. With an investment of 1500 now I'll get about 107 sterling a week compliments of the Crown. I'm happy with that return
Quote from: gerrykeegan on April 09, 2023, 06:38:58 PM
I'd echo that. I did six years in London. With an investment of 1500 now I'll get about 107 sterling a week compliments of the Crown. I'm happy with that return
Presumably Sunak thinks this is OK as he gets the £1500 now, but someone else has to pay out the pension in years to come!
To be honest I can pay the 1500 now or over the next 10 years, either way it's a win win for me.
Is it a matter of ringing up and paying missed contributions over the phone?
Have tried and tried and tried ringing lord have mercy but no avail
Quote from: thedice on April 09, 2023, 07:38:47 PM
Is it a matter of ringing up and paying missed contributions over the phone?
Have tried and tried and tried ringing lord have mercy but no avail
I am still in the process. However, comment elsewhere suggests that you can fill in the form requesting the contributions, send this by recorded delivery and they will come back to you with a bill.
It looks like that link https://www.gov.uk/check-national-insurance-record (https://www.gov.uk/check-national-insurance-record) is just for those with a current uk postcode. Anyone with any sense would not linger longer than necessary inside the UK, never mind having an actual current uk postcode.
I suspect there is another route for those domiciled outside the UK, which just happens to be deftly hidden under state secret protocol.
Quote from: Main Street on April 09, 2023, 10:51:46 PM
It looks like that link https://www.gov.uk/check-national-insurance-record (https://www.gov.uk/check-national-insurance-record) is just for those with a current uk postcode. Anyone with any sense would not linger longer than necessary inside the UK, never mind having an actual current uk postcode.
I suspect there is another route for those domiciled outside the UK, which just happens to be deftly hidden under state secret protocol.
Not so. You need to sign in using a government gateway and that does not need a postcode.
Someone with sense with the prospect of getting back 4 times what they paid in might well organise themselves a postcode.
Quote from: armaghniac on April 09, 2023, 11:01:11 PM
Quote from: Main Street on April 09, 2023, 10:51:46 PM
It looks like that link https://www.gov.uk/check-national-insurance-record (https://www.gov.uk/check-national-insurance-record) is just for those with a current uk postcode. Anyone with any sense would not linger longer than necessary inside the UK, never mind having an actual current uk postcode.
I suspect there is another route for those domiciled outside the UK, which just happens to be deftly hidden under state secret protocol.
Not so. You need to sign in using a government gateway and that does not need a postcode.
Someone with sense with the prospect of getting back 4 times what they paid in might well organise themselves a postcode.
You can't just use a valid UK postcode and address even if you know the residents. Now what I would like is a hint from somebody who has the sense to know where one applies for a government gateway account.
General information informs
How to set up a Government Gateway account
You should follow these steps to create an account:
If it is protected by Government Gateway, you will be asked to 'sign in using Government Gateway'.
Scroll down the page and select 'Create sign in details'.On that Nat Ins page there is no option to
create sign in details.
edit : okay I got it now, the Nat Ins page states that you need the gateway id before you can
start now, but you have to
start now in order to create the new gateway id. I have been away from the British Isles for too long.
Edit They are still demanding a UK postcode before you can proceed even though this method is also for people who live abroad. It's easier to fill out the online form than deal with this maze. I am sure my application for pension details will be warmly received.
I managed to get the gateway ID sent to me via email I just can't remember the sequence. I know 😊 had to verify my Irish passport using an app that I had to download. It was very impressive. I sat my phone on the front of the passport and it read the biometric data. Sorry I can't remember the sequence
Quote from: gerrykeegan on April 11, 2023, 02:31:45 PM
I managed to get the gateway ID sent to me via email I just can't remember the sequence. I know 😊 had to verify my Irish passport using an app that I had to download. It was very impressive. I sat my phone on the front of the passport and it read the biometric data. Sorry I can't remember the sequence
I did that but then they demanded a postcode before you can proceed, with no other option.
Unrelated UK pensions question
What is the best plan of action for someone with 5-6 different pensions from the same number of jobs to combine them into one?
Each pension pot would be about 2-3 years worth of payments before moving into next job
Quote from: Main Street on April 11, 2023, 02:41:03 PM
Quote from: gerrykeegan on April 11, 2023, 02:31:45 PM
I managed to get the gateway ID sent to me via email I just can't remember the sequence. I know 😊 had to verify my Irish passport using an app that I had to download. It was very impressive. I sat my phone on the front of the passport and it read the biometric data. Sorry I can't remember the sequence
I did that but then they demanded a postcode before you can proceed, with no other option.
You can use a Jobs & Benefits office in NI as a correspondence address, lots of people do it IRO Benefits, it's not illegal or anything, not ideal I'm sure tho.
Quote from: Main Street on April 11, 2023, 02:41:03 PM
Quote from: gerrykeegan on April 11, 2023, 02:31:45 PM
I managed to get the gateway ID sent to me via email I just can't remember the sequence. I know 😊 had to verify my Irish passport using an app that I had to download. It was very impressive. I sat my phone on the front of the passport and it read the biometric data. Sorry I can't remember the sequence
I did that but then they demanded a postcode before you can proceed, with no other option.
If I go to https://www.gov.uk/check-state-pension
and click of Start and login using the Government Gateway, it then asks me for my name and brings me to a page
where it says
We will ask you about items you may have, like your:
UK or
International passport UK photocard driving licence (including provisional licences)
Payslips or P60
Self Assessment
Tax credits (optional Voice ID)
Credit record
Done from Spain, with an Irish passport. No request for a UK postcode once, no VPN etc.
Quote from: giveherlong on April 11, 2023, 02:52:19 PM
Unrelated UK pensions question
What is the best plan of action for someone with 5-6 different pensions from the same number of jobs to combine them into one?
Each pension pot would be about 2-3 years worth of payments before moving into next job
Think there is someone on here that can help with that. Put this question out before and had a pm from him
In the same boat! I've a 9 year one, and about 3 3 year ones and a 8/9 year one! Pish poor but probably together they may work out better.
Quote from: armaghniac on April 11, 2023, 04:56:59 PM
Quote from: Main Street on April 11, 2023, 02:41:03 PM
Quote from: gerrykeegan on April 11, 2023, 02:31:45 PM
I managed to get the gateway ID sent to me via email I just can't remember the sequence. I know 😊 had to verify my Irish passport using an app that I had to download. It was very impressive. I sat my phone on the front of the passport and it read the biometric data. Sorry I can't remember the sequence
I did that but then they demanded a postcode before you can proceed, with no other option.
If I go to https://www.gov.uk/check-state-pension
and click of Start and login using the Government Gateway, it then asks me for my name and brings me to a page
where it says
We will ask you about items you may have, like your:
UK or International passport
UK photocard driving licence (including provisional licences)
Payslips or P60
Self Assessment
Tax credits (optional Voice ID)
Credit record
Thanks but I don't get that choice.
I sign up,, email verification, followed by non uk phone nr text message verification,
then fill in name
then question what's your Nat ins nr?
I click on 'I dont know'
then it brings me to the post code question
I even tried a known post code and they replied "no known record"
Anyway my claim would be termed a not so straight foreward cold case, though under the legal name I was using then in the UK I received 4 tax rebates, so if their records have all been digitalised I do exist somwhere in the system. But probably my claim is best explained over the online application.
I got signed up and just checked my history from i left school in 1989. I have two missing years where apparently I did not pay any contributions (1995-96 & 1996-97). When I click on those two missing years it tells me I can only pay for missing contribution for the previous 6 years...
Quote from: illdecide on April 11, 2023, 11:00:58 PM
I got signed up and just checked my history from i left school in 1989. I have two missing years where apparently I did not pay any contributions (1995-96 & 1996-97). When I click on those two missing years it tells me I can only pay for missing contribution for the previous 6 years...
I'm not sure about the 6 years, but my understanding is that you can now only buy years from 2006. If you have these recent years then you are not in the zone for this.
The way I'm looking at it i need 35 years contributions for a full pension. I currently have 31 years and by the end of this month it will be 32. I only have another 3 years to go to qualify anyway so coming 50 later this year bar any bad luck or death etc I should achieve the 35 year total eaasily enough...
Quote from: illdecide on April 11, 2023, 11:07:38 PM
The way I'm looking at it i need 35 years contributions for a full pension. I currently have 31 years and by the end of this month it will be 32. I only have another 3 years to go to qualify anyway so coming 50 later this year bar any bad luck or death etc I should achieve the 35 year total eaasily enough...
Yeah the missing years are only an issue if you are going to be short of the 35 when you retire, and even at that you still get a state pension pro rata if you haven't the full 35 years
What happens when you reach the 35 years ... do you stop paying NI contributions?
Quote from: giveherlong on April 11, 2023, 02:52:19 PM
Unrelated UK pensions question
What is the best plan of action for someone with 5-6 different pensions from the same number of jobs to combine them into one?
Each pension pot would be about 2-3 years worth of payments before moving into next job
I'm not an expert but I assume there's a downside with fees on multiple pots adding up. Putting them all into one pot takes away that problem, but then you've all your eggs in the one basket so if it doesn't do well then you're losing. So looks like a trade off?
Quote from: Milltown Row2 on April 11, 2023, 05:59:07 PM
Quote from: giveherlong on April 11, 2023, 02:52:19 PM
Unrelated UK pensions question
What is the best plan of action for someone with 5-6 different pensions from the same number of jobs to combine them into one?
Each pension pot would be about 2-3 years worth of payments before moving into next job
best bet amalgamate and then take some advice on what pots your monies are in
as they should change as you get older
Think there is someone on here that can help with that. Put this question out before and had a pm from him
In the same boat! I've a 9 year one, and about 3 3 year ones and a 8/9 year one! Pish poor but probably together they may work out better.
Quote from: Sportacus on April 12, 2023, 11:27:35 AM
Quote from: giveherlong on April 11, 2023, 02:52:19 PM
Unrelated UK pensions question
What is the best plan of action for someone with 5-6 different pensions from the same number of jobs to combine them into one?
Each pension pot would be about 2-3 years worth of payments before moving into next job
I'm not an expert but I assume there's a downside with fees on multiple pots adding up. Putting them all into one pot takes away that problem, but then you've all your eggs in the one basket so if it doesn't do well then you're losing. So looks like a trade off?
You'll probably pay more fees moving them all into one. Could be better to leave them all where they are and take a tax free lump sum from them all, then take payments on the rest from multiple pots, but each persons own situation will need to be assessed in more detail obviously
Quote from: balladmaker on April 12, 2023, 11:12:22 AM
What happens when you reach the 35 years ... do you stop paying NI contributions?
AFAIK you continue to pay them until state pension age
Quote from: Kidder81 on April 12, 2023, 01:53:11 PM
Quote from: balladmaker on April 12, 2023, 11:12:22 AM
What happens when you reach the 35 years ... do you stop paying NI contributions?
AFAIK you continue to pay them until state pension age
I'm working 35 years and based on the state pension age I'll be paying NI contributions for another 16 years!!
Will a working man get more of a state pension than a lazy cnut?
It's based on contributions so yes.
It is a joke though. People who have never worked their whole lives will still get benefits like Pension credits. They may not get as much us us that have worked all their lives but they still get a fair amount for being a lazy bastid. I suppose another way of looking at it is are we the silly ones for working our asses off until we're not fit to wheel the bin out...I always used to think the lazy benefit people who never worked will reap their rewards some day and I though that day is in pension age but the reality is they still get looked after until they die, they get a pension, get their rent paid, no rates...Ahh feck I need to stop or i'll throw myself off the edge here...lol
Quote from: imtommygunn on April 12, 2023, 02:30:15 PM
It's based on contributions so yes.
Your contributions are paid on benefits too so you someone who has never done a tap will get the same state pension
All of them?
Oh. That's a lot. Makes you wonder though ideally if you worked all your life you'd have a private pension and savings too.
Quote from: imtommygunn on April 12, 2023, 03:46:09 PM
Oh. That's a lot. Makes you wonder though ideally if you worked all your life you'd have a private pension and savings too.
Savings ;D not if you have kids/college/weddings/new kitchens and if you have been in lots of different companies over the years the private pension doesn't add up to that much
I walk the dogs every night and that is my conversation either in my head or with her lol!!
Well you better make sure the kids have good jobs and you're nice to them then ;D
Is your house not your biggest pension?
Quote from: imtommygunn on April 12, 2023, 03:46:09 PM
Oh. That's a lot. Makes you wonder though ideally if you worked all your life you'd have a private pension and savings too.
Compulsory to offer a work place pension now I think ?
Quote from: marty34 on April 12, 2023, 04:27:58 PM
Is your house not your biggest pension?
It's usually not a money making asset in regards to cash flow. It's value can't generally be unlocked until you don't need it anymore, by which time, you'll not be worrying about a pension....
Quote from: Kidder81 on April 12, 2023, 04:39:41 PM
Quote from: imtommygunn on April 12, 2023, 03:46:09 PM
Oh. That's a lot. Makes you wonder though ideally if you worked all your life you'd have a private pension and savings too.
Compulsory to offer a work place pension now I think ?
Yeah - 8% minimum contribution with 3 from employers minimum. Not sure if that's cumulative - e.g. if employer contributes 6 can you do 2 etc - but any which way 8%.
Poor doctors have to contribute about 9% but neglect to mention the employer (tax payer) is chipping in 20-30% on top of that.
Quote from: imtommygunn on April 12, 2023, 04:45:10 PM
Quote from: Kidder81 on April 12, 2023, 04:39:41 PM
Quote from: imtommygunn on April 12, 2023, 03:46:09 PM
Oh. That's a lot. Makes you wonder though ideally if you worked all your life you'd have a private pension and savings too.
Compulsory to offer a work place pension now I think ?
Yeah - 8% minimum contribution with 3 from employers minimum. Not sure if that's cumulative - e.g. if employer contributes 6 can you do 2 etc - but any which way 8%.
By comparison in the Nordic countries, (current minimum wage is approx eur32,000 p/a) contributory pension average is 4% from employee, + 10% employer, if an an optional add-on private pension is chosen, up to a max 4% employee + max 2 % employer .
That amounts to 14% - 20% of income earned in life stored away in a safe fund with compound intrest. I suppose the skill is figuring out when you want to start using the fund and how long you are going to live.
Incentive for young folk to save, is that they can withdraw from the added private pension fund tax free, to help with a first property purchase.
State pension goes from a minimum eur15,000 pa to eur 28,000 pa (for those with no other means)
Quote from: gerrykeegan on April 09, 2023, 06:38:58 PM
I'd echo that. I did six years in London. With an investment of 1500 now I'll get about 107 sterling a week compliments of the Crown. I'm happy with that return
How so little? It's telling me I have to pay £800 odd per year - not sure the sums add up at that rate. What is the minimum pension, based on achieving the bare 10 years?
Quote from: onefineday on June 05, 2023, 09:51:48 PM
Quote from: gerrykeegan on April 09, 2023, 06:38:58 PM
I'd echo that. I did six years in London. With an investment of 1500 now I'll get about 107 sterling a week compliments of the Crown. I'm happy with that return
How so little? It's telling me I have to pay £800 odd per year - not sure the sums add up at that rate. What is the minimum pension, based on achieving the bare 10 years?
There are two categories, one pays around £300 the the other £900. If you were working and then left the UK you get to pay the lower amount, which is a complete no brainer. If you have to pay the £900 it is a good deal, if you live long, but not quite brilliant, as many Irish people with the cash in hand will end up paying 40% tax on this.
Quote from: Tony Baloney on April 12, 2023, 08:15:11 PM
Poor doctors have to contribute about 9% but neglect to mention the employer (tax payer) is chipping in 20-30% on top of that.
They don't get that 20-30% though. It goes into a communal pot to pay everyone who works for HSCNI. They get 1/54(?) of each years salary every year of retirement.
Quote from: RedHand88 on June 05, 2023, 10:07:21 PM
Quote from: Tony Baloney on April 12, 2023, 08:15:11 PM
Poor doctors have to contribute about 9% but neglect to mention the employer (tax payer) is chipping in 20-30% on top of that.
They don't get that 20-30% though. It goes into a communal pot to pay everyone who works for HSCNI. They get 1/54(?) of each years salary every year of retirement.
Should someone with a public job pension get a state pension?
Doctors have a pretty large annual fee to pay on their contributions too. Their pension is not what some think it is.
Everyone should get a state pension.
My personal view is it should be linked to work history & you shouldnt get the same for sitting on your arse for years, without paying in to the system
Quote from: Saffrongael on June 05, 2023, 10:15:21 PM
My personal view is it should be linked to work history & you shouldnt get the same for sitting on your arse for years, without paying in to the system
This is what I'm getting at, it's not tiered, someone who's worked 50 years and someone who's worked nowt get the same?
Quote from: Milltown Row2 on June 05, 2023, 10:20:10 PM
Quote from: Saffrongael on June 05, 2023, 10:15:21 PM
My personal view is it should be linked to work history & you shouldnt get the same for sitting on your arse for years, without paying in to the system
This is what I'm getting at, it's not tiered, someone who's worked 50 years and someone who's worked nowt get the same?
Yes
Is it not tiered based on ni contributions?
Good to see the Thatcherites out in force.
The issue is being able to clearly distinguish between those that are genuinely unable to work, and those who are milking the system. It's probably the same a in a lot of walks of life. There will always be the bluffers and scammers.
Quote from: JohnDenver on June 05, 2023, 10:24:37 PM
Good to see the Thatcherites out in force.
The issue is being able to clearly distinguish between those that are genuinely unable to work, and those who are milking the system. It's probably the same a in a lot of walks of life. There will always be the bluffers and scammers.
Think you'll see I didn't mention those unable to work, just those that don't work, and if there are bluffers that are working they are still earning and paying into the system.
Quote from: imtommygunn on June 05, 2023, 10:24:16 PM
Is it not tiered based on ni contributions?
Your NI contributions are paid for you when you are sitting on the dole
Just googled it, there's 50 quid difference if you've less than 35 years working and contributing, or if you've never worked but claimed benefits you'll get a state pension
I'm minimum (currently) 16 years away from that! (Good grief)
Need a plan!!
Quote from: Milltown Row2 on June 05, 2023, 10:48:19 PM
Just googled it, there's 50 quid difference if you've less than 35 years working and contributing, or if you've never worked but claimed benefits you'll get a state pension
I'm minimum (currently) 16 years away from that! (Good grief)
Need a plan!!
You will still get something pro rata for the number of years you have contributed
And I think the 50 quid difference is between the "basic state pension" (born before 1951 for a man & 1953 for a woman) and the current state pension for those born after those years
Quote from: armaghniac on June 05, 2023, 09:58:52 PM
Quote from: onefineday on June 05, 2023, 09:51:48 PM
Quote from: gerrykeegan on April 09, 2023, 06:38:58 PM
I'd echo that. I did six years in London. With an investment of 1500 now I'll get about 107 sterling a week compliments of the Crown. I'm happy with that return
How so little? It's telling me I have to pay £800 odd per year - not sure the sums add up at that rate. What is the minimum pension, based on achieving the bare 10 years?
There are two categories, one pays around £300 the the other £900. If you were working and then left the UK you get to pay the lower amount, which is a complete no brainer. If you have to pay the £900 it is a good deal, if you live long, but not quite brilliant, as many Irish people with the cash in hand will end up paying 40% tax on this.
I have the same issue: 6 years of incomplete years, but each of the years would cost at least £720+. Would it still be worth paying that? It's quite a lump sum to pay out but I would if I thought it would be worth it.
Quote from: qwerty123 on June 05, 2023, 11:37:27 PM
Quote from: armaghniac on June 05, 2023, 09:58:52 PM
Quote from: onefineday on June 05, 2023, 09:51:48 PM
Quote from: gerrykeegan on April 09, 2023, 06:38:58 PM
I'd echo that. I did six years in London. With an investment of 1500 now I'll get about 107 sterling a week compliments of the Crown. I'm happy with that return
How so little? It's telling me I have to pay £800 odd per year - not sure the sums add up at that rate. What is the minimum pension, based on achieving the bare 10 years?
There are two categories, one pays around £300 the the other £900. If you were working and then left the UK you get to pay the lower amount, which is a complete no brainer. If you have to pay the £900 it is a good deal, if you live long, but not quite brilliant, as many Irish people with the cash in hand will end up paying 40% tax on this.
I have the same issue: 6 years of incomplete years, but each of the years would cost at least £720+. Would it still be worth paying that? It's quite a lump sum to pay out but I would if I thought it would be worth it.
I have about 6 years of non qualifying payments but I'll still easily get the full 35 years by retirement age so there's no point in me bringing my payments up to date.
Quote from: Milltown Row2 on June 05, 2023, 10:11:20 PM
Quote from: RedHand88 on June 05, 2023, 10:07:21 PM
Quote from: Tony Baloney on April 12, 2023, 08:15:11 PM
Poor doctors have to contribute about 9% but neglect to mention the employer (tax payer) is chipping in 20-30% on top of that.
They don't get that 20-30% though. It goes into a communal pot to pay everyone who works for HSCNI. They get 1/54(?) of each years salary every year of retirement.
Should someone with a public job pension get a state pension?
Are public pensions in UK/ni not on a defined contribution basis now, therefore no reason why they shouldn't get both in the same manner as all other workers.
In the south, I think the state pension is counted as part of the public sector pension - but it depends on which of the 3 schemes the worker is on. There's a pre-94 scheme, a pre-2013 scheme both based on final salary benefits and the newest which is based on average salary benefits.
There's a reasonable difference between those will full contributions and those without in terms of weekly payout - and if you don't have sufficient contributions you may not qualify.
Quote from: armaghniac on June 05, 2023, 09:58:52 PM
Quote from: onefineday on June 05, 2023, 09:51:48 PM
Quote from: gerrykeegan on April 09, 2023, 06:38:58 PM
I'd echo that. I did six years in London. With an investment of 1500 now I'll get about 107 sterling a week compliments of the Crown. I'm happy with that return
How so little? It's telling me I have to pay £800 odd per year - not sure the sums add up at that rate. What is the minimum pension, based on achieving the bare 10 years?
There are two categories, one pays around £300 the the other £900. If you were working and then left the UK you get to pay the lower amount, which is a complete no brainer. If you have to pay the £900 it is a good deal, if you live long, but not quite brilliant, as many Irish people with the cash in hand will end up paying 40% tax on this.
Is it calculating my cons at the higher rate as I am domestic but they don't know I left UK, just radio silence for 20yrs!! So I'd need to contact someone and get them to adjust my contribution rate. I have very few full years, need 5 to get to the minimum 10 - is it worth increasing beyond the min 10 years cons and effectively paying up the 300 for each year from 2006 onwards? Or just pay enough to qualify for the minimum?
If you live till you're 77 it's only ten years of a pension, not a lot in the grand scheme of things as the prices of fuel, food for starters is a lot more than it was 20 years ago let's say. £100,000
Quote from: imtommygunn on June 05, 2023, 10:12:45 PM
Doctors have a pretty large annual fee to pay on their contributions too. Their pension is not what some think it is.
Everyone should get a state pension.
Can you elaborate on this? They save tax but then pay a charge?
I am not 100% sure on the details of this but they pay a lump sum every year on their pension.I think it is possibly because their pension contributions cumulatively exceed the tax threshold pension contributions they are also taxed. They feel it is a number that is magically pulled out of thin air too and it is hugely different year on year.
I am a bit grey on some details tbh but I have a few close friends who are doctors and they are regularly lamenting this.
Private pensions are allowed a tax free lump sum but everything else is taxed. Tax relief on contributions encourages people to save.
There's only so much, which has just been extended and is a lot mind you, which is tax free. (60k or something)
You pay a charge if you contribute more than £40k to a defined contribution pension scheme or for doctors who have DB aka final salary schemes, they pay a charge if the value of their pension increases by more than £40k in one year. That limit has been upped to £60k following the last budget.
You can now put £60k per year into your private pension. (Used to be £40K) The cap was just over a £1m. So once you'd £1m in your pension was said to be full. That has now been removed. There's no upper limit. You can still take 25% out tax free at 57 years.
Quote from: Mario on June 06, 2023, 08:11:40 AM
You pay a charge if you contribute more than £40k to a defined contribution pension scheme or for doctors who have DB aka final salary schemes, they pay a charge if the value of their pension increases by more than £40k in one year. That limit has been upped to £60k following the last budget.
If this is the charge tommygunn is referring to, then he is correct - their pension is not what some think, it is exceedingly more. Hard to have sympathy with anyone who contributes more to their pension than the average worker receives in gross salary.
Quote from: RedHand88 on June 05, 2023, 10:07:21 PM
Quote from: Tony Baloney on April 12, 2023, 08:15:11 PM
Poor doctors have to contribute about 9% but neglect to mention the employer (tax payer) is chipping in 20-30% on top of that.
They don't get that 20-30% though. It goes into a communal pot to pay everyone who works for HSCNI. They get 1/54(?) of each years salary every year of retirement.
They would appear to get more. A doctor with 30 years service on pensionable final salary of 50k (not unreasonable, maybe conservative estimate) would receive yearly pension of c.£30k - 60% of their salary? Be very hard pushed to get anything as good anywhere else for 9% contributions from your wage.
Average accrual rates for DB schemes are 1/60 or 1/80, so getting a boost here too.
Quote from: qwerty123 on June 05, 2023, 11:37:27 PM
Quote from: armaghniac on June 05, 2023, 09:58:52 PM
Quote from: onefineday on June 05, 2023, 09:51:48 PM
Quote from: gerrykeegan on April 09, 2023, 06:38:58 PM
I'd echo that. I did six years in London. With an investment of 1500 now I'll get about 107 sterling a week compliments of the Crown. I'm happy with that return
How so little? It's telling me I have to pay £800 odd per year - not sure the sums add up at that rate. What is the minimum pension, based on achieving the bare 10 years?
There are two categories, one pays around £300 the the other £900. If you were working and then left the UK you get to pay the lower amount, which is a complete no brainer. If you have to pay the £900 it is a good deal, if you live long, but not quite brilliant, as many Irish people with the cash in hand will end up paying 40% tax on this.
I have the same issue: 6 years of incomplete years, but each of the years would cost at least £720+. Would it still be worth paying that? It's quite a lump sum to pay out but I would if I thought it would be worth it.
Each extra contribution year gets you an extra £260 of pension retirement income per annum. So you would need to live over 3 years past the retirement age for it to become beneficial (if it costs you £720 per incomplete year). But its a hefty lump sum to be paying out for something you
may benefit from in the future and if you need the money now then its not going to be a top priority. The rules around pension are always subject to budgetary changes though and who knows what may happen with them in the future in terms of age eligibility and the possibility that they may become means tested. I certainly wouldn't be putting down a big lump of money to pay for gaps unless I knew it was very likely to be of benefit.
Quote from: Milltown Row2 on June 05, 2023, 10:11:20 PM
Quote from: RedHand88 on June 05, 2023, 10:07:21 PM
Quote from: Tony Baloney on April 12, 2023, 08:15:11 PM
Poor doctors have to contribute about 9% but neglect to mention the employer (tax payer) is chipping in 20-30% on top of that.
They don't get that 20-30% though. It goes into a communal pot to pay everyone who works for HSCNI. They get 1/54(?) of each years salary every year of retirement.
Should someone with a public job pension get a state pension?
Yes. I'll be getting a public sector pension and 2 state pensions (2 jurisdictions).
Might start a private one too later on when things have settled.
Quote from: yellowcard on June 06, 2023, 03:17:57 PM
Each extra contribution year gets you an extra £260 of pension retirement income per annum. So you would need to live over 3 years past the retirement age for it to become beneficial (if it costs you £720 per incomplete year). But its a hefty lump sum to be paying out for something you may benefit from in the future and if you need the money now then its not going to be a top priority. The rules around pension are always subject to budgetary changes though and who knows what may happen with them in the future in terms of age eligibility and the possibility that they may become means tested. I certainly wouldn't be putting down a big lump of money to pay for gaps unless I knew it was very likely to be of benefit.
Of course the £260 is likely to attract tax for many contributors and some people have to pay up to £900, so you may need to live longer. But then life expectancy is 80 odd and if you are dead then you won't miss the money, but if you live long then you may need it. It does have the advantage of being index linked, presently with a triple lock that no private fund would give you. The age eligibility means that this suits people close to the retirement age as the risk is less. The means testing would be a major issue, to be sure. But given that rich people pay back quite a bit of it in tax they will likely leave it alone, given that people paid into it.
https://www.irishtimes.com/business/2025/03/15/uk-state-pension-deadline-softened-amid-last-minute-rush/ (https://www.irishtimes.com/business/2025/03/15/uk-state-pension-deadline-softened-amid-last-minute-rush/)
Might be worth a look if anyone in the Republic worked in the UK for a while. Deadline is April 5th to apply
I sent the hoors a cheque last week, but it has not yet shown up on my bank account, so I don't know if it is lost or just in a pile.
Is there any flexibility on this payment deadline? I already have the letter to pay.
Quote from: armaghniac on March 27, 2025, 01:04:45 PMI sent the hoors a cheque last week, but it has not yet shown up on my bank account, so I don't know if it is lost or just in a pile.
Is there any flexibility on this payment deadline? I already have the letter to pay.
I'm far from an expert on it but I sent a request for a call back to go through it and they said they would be in touch within 8 weeks. I'm hoping that means I'm in the system and it goes from there. I tried to do the online log in but it kept wanting UK documents to verify my ID but I don't have any anymore.
Quote from: andoireabu on March 27, 2025, 01:24:15 PMQuote from: armaghniac on March 27, 2025, 01:04:45 PMI sent the hoors a cheque last week, but it has not yet shown up on my bank account, so I don't know if it is lost or just in a pile.
Is there any flexibility on this payment deadline? I already have the letter to pay.
I'm far from an expert on it but I sent a request for a call back to go through it and they said they would be in touch within 8 weeks. I'm hoping that means I'm in the system and it goes from there. I tried to do the online log in but it kept wanting UK documents to verify my ID but I don't have any anymore.
If you've started the process before 5 Apr, that's ok. If you pay after that date , it will count
I paid two payments online, one for gaps in class 2 ni and one class 3. One has been updated on the system , the other hasn't. Hopefully it's just a matter of time before it updates too
Quote from: AustinPowers on March 27, 2025, 01:33:51 PMQuote from: andoireabu on March 27, 2025, 01:24:15 PMQuote from: armaghniac on March 27, 2025, 01:04:45 PMI sent the hoors a cheque last week, but it has not yet shown up on my bank account, so I don't know if it is lost or just in a pile.
Is there any flexibility on this payment deadline? I already have the letter to pay.
I'm far from an expert on it but I sent a request for a call back to go through it and they said they would be in touch within 8 weeks. I'm hoping that means I'm in the system and it goes from there. I tried to do the online log in but it kept wanting UK documents to verify my ID but I don't have any anymore.
If you've started the process before 5 Apr, that's ok. If you pay after that date , it will count
I paid two payments online, one for gaps in class 2 ni and one class 3. One has been updated on the system , the other hasn't. Hopefully it's just a matter of time before it updates too
Does my request for a call back count as starting the process do you know?
Quote from: andoireabu on March 27, 2025, 01:43:32 PMQuote from: AustinPowers on March 27, 2025, 01:33:51 PMQuote from: andoireabu on March 27, 2025, 01:24:15 PMQuote from: armaghniac on March 27, 2025, 01:04:45 PMI sent the hoors a cheque last week, but it has not yet shown up on my bank account, so I don't know if it is lost or just in a pile.
Is there any flexibility on this payment deadline? I already have the letter to pay.
I'm far from an expert on it but I sent a request for a call back to go through it and they said they would be in touch within 8 weeks. I'm hoping that means I'm in the system and it goes from there. I tried to do the online log in but it kept wanting UK documents to verify my ID but I don't have any anymore.
If you've started the process before 5 Apr, that's ok. If you pay after that date , it will count
I paid two payments online, one for gaps in class 2 ni and one class 3. One has been updated on the system , the other hasn't. Hopefully it's just a matter of time before it updates too
Does my request for a call back count as starting the process do you know?
Yes it does, I heard that on tv recently .
It's 35 qualifying years you need to get full pension is that right?
I've 17 done and it says I need another 18 but I can buy another 7 or 8 for £800. I'm planning on working until my 60s anyway so I'd imagine I should be grand pension wise rather than wasting a few grand buying years I don't need.
I've 3 years contributed from 16-19 which I wouldn't have thought about but just another advantage to getting a job when younger.
Quote from: screenexile on March 27, 2025, 03:03:24 PMI've 3 years contributed from 16-19 which I wouldn't have thought about but just another advantage to getting a job when younger.
You get those if you are in full time education as well.
I have lived in the US since the 90s but am able to make catch-up contributions back to 2006 so I will get an almost full UK pension by the time I am retired.
Quote from: screenexile on March 27, 2025, 03:03:24 PMIt's 35 qualifying years you need to get full pension is that right?
I've 17 done and it says I need another 18 but I can buy another 7 or 8 for £800. I'm planning on working until my 60s anyway so I'd imagine I should be grand pension wise rather than wasting a few grand buying years I don't need.
I've 3 years contributed from 16-19 which I wouldn't have thought about but just another advantage to getting a job when younger.
Or being on the dole ;D
Quote from: dec on March 27, 2025, 03:15:58 PMQuote from: screenexile on March 27, 2025, 03:03:24 PMI've 3 years contributed from 16-19 which I wouldn't have thought about but just another advantage to getting a job when younger.
You get those if you are in full time education as well.
I have lived in the US since the 90s but am able to make catch-up contributions back to 2006 so I will get an almost full UK pension by the time I am retired.
How do you claim these? I never had a "real" job at home. Part time jobs, bar work etc on and off until I was 23 but I was in college in Dublin from September 05 to June 2010.
Looking it up online, buying a year looks like it averages about 800. Where/how can you buy a whole chunk of them for 800 or does it depend on historic contributions?
Even so, the full 15 years of contributions would be a solid investment.
Quote from: gallsman on March 27, 2025, 04:17:48 PMQuote from: dec on March 27, 2025, 03:15:58 PMQuote from: screenexile on March 27, 2025, 03:03:24 PMI've 3 years contributed from 16-19 which I wouldn't have thought about but just another advantage to getting a job when younger.
You get those if you are in full time education as well.
I have lived in the US since the 90s but am able to make catch-up contributions back to 2006 so I will get an almost full UK pension by the time I am retired.
How do you claim these? I never had a "real" job at home. Part time jobs, bar work etc on and off until I was 23 but I was in college in Dublin from September 05 to June 2010.
Looking it up online, buying a year looks like it averages about 800. Where/how can you buy a whole chunk of them for 800 or does it depend on historic contributions?
Even so, the full 15 years of contributions would be a solid investment.
https://www.gov.uk/guidance/apply-to-pay-voluntary-national-insurance-contributions-when-abroad-cf83
I am eligible to pay class 2 contributions (the cheaper ones) because I met this criteria
"To pay voluntary Class 2 National Insurance contributions, you must be working or have worked abroad during the period you're applying to pay and have worked in the UK immediately before leaving."
I was working in NI immediately before I moved to the US.
I have to pay class 3 contributions (more expensive) for the few weeks that i was between jobs over here.
Great, thanks for that. Quickly fired off an "I live abroad application" there. Have to say, the gov.uk website is terrific. Have always found it incredibly easy to use.
That said..."You can expect a reply by
30 April 2026" ;D ;D ;D
I'll have 30 full years by end of this year. I've just turned 49. I take it there is no point in me even looking at this.
Quote from: Tony Baloney on March 27, 2025, 07:56:19 PMI'll have 30 full years by end of this year. I've just turned 49. I take it there is no point in me even looking at this.
I'll have done 37 come September when I started my apprenticeship aged 16!
And still fecking working
I think I hit the sweetspot when it came to the pensions. Worked in UK until I was 50 so had about 32 years so only 3 more to buy and then started working in the Republic so need to work 15 out of 16 years left in order to get the full Irish pension.
There should be some distinction (higher payments) if you paid in for the 35 years as opposed to those that didn't & get the same pension.
You don't get the same pension if you haven't contributed the full 35 years. You have to have a minimum of 10 and everything in between is pro rated.
£11k taxed doesn't seem like a lot!!
Quote from: screenexile on March 28, 2025, 02:11:45 PM£11k taxed doesn't seem like a lot!!
If you can buy it for a few grand and live a good while after retirement it's a great return.
Quote from: screenexile on March 28, 2025, 02:11:45 PM£11k taxed doesn't seem like a lot!!
It's not taxed, it's paid gross. In other words it is paid tax free but is added to your other sources of income when calculating your overall tax bill.
Quote from: gallsman on March 28, 2025, 01:45:22 PMYou don't get the same pension if you haven't contributed the full 35 years. You have to have a minimum of 10 and everything in between is pro rated.
Yes I know that, I mean if you haven't worked you get all your contributions paid for you
Quote from: Saffrongael on March 28, 2025, 01:42:33 PMThere should be some distinction (higher payments) if you paid in for the 35 years as opposed to those that didn't & get the same pension.
100%.
Quote from: Tony Baloney on March 28, 2025, 05:42:13 PMQuote from: Saffrongael on March 28, 2025, 01:42:33 PMThere should be some distinction (higher payments) if you paid in for the 35 years as opposed to those that didn't & get the same pension.
100%.
What about those who psychically can't work? I know there are a few playing the system , but I know of genuine people who have rarely or were never able to work. So is it right that they are unfairly punished due to their disabilities ?
Quote from: AustinPowers on March 28, 2025, 07:03:20 PMQuote from: Tony Baloney on March 28, 2025, 05:42:13 PMQuote from: Saffrongael on March 28, 2025, 01:42:33 PMThere should be some distinction (higher payments) if you paid in for the 35 years as opposed to those that didn't & get the same pension.
100%.
What about those who psychically can't work? I know there are a few playing the system , but I know of genuine people who have rarely or were never able to work. So is it right that they are unfairly punished due to their disabilities ?
That's different for sure.
Quote from: gallsman on March 27, 2025, 07:48:53 PMGreat, thanks for that. Quickly fired off an "I live abroad application" there. Have to say, the gov.uk website is terrific. Have always found it incredibly easy to use.
That said..."You can expect a reply by
30 April 2026" ;D ;D ;D
I cannot find the form that can be completed online. Can only find a form that you fill in and print at the end before posting. Can you provide a link? Is the CF83 the correct form?
https://www.gov.uk/guidance/apply-to-pay-voluntary-national-insurance-contributions-when-abroad-cf83
That's where I did it. You can choose to pay going forwards, pay in arrears or both.
Do they not ring you back or somthing after you've filled the form?
Yes, I'm waiting on a call back. But I don't have to print, sign, post anything etc. It's all done on the web page.
Quote from: gallsman on April 01, 2025, 08:22:02 PMYes, I'm waiting on a call back. But I don't have to print, sign, post anything etc. It's all done on the web page.
Did you keep a screenshot of the callback message?
Email it yourself just in case.
There's an email receipt with a reference number and all:
QuoteHMRC received your application to pay voluntary contributions for periods living or working abroad
Dear XXX
We received your application to pay voluntary contributions for periods living or working abroad.
Your submission reference is: XXXX-XXXX-XXXX
We will write to you to confirm if your application has been approved.
For periods before the current tax year
HMRC will also write to you to confirm past periods you are eligible to pay (if any) and the costs and time limits for these. We will also include details of how to pay if you decide it will benefit you to do so.
I applied in late January and received a letter in mid March (and it is just a physical letter, nothing available online)
It lays out how much you need to pay for each tax year back as far as 2006 to 2007
eg
Tax year 2006 to 2007
Number of weeks 52
Weekly rate of contribution £3.15
Amount £ 163.80
Payment date without penalty 5-April-2025
Final time limit 5-April-2025
For any year where I was not working every week (eg between jobs) the amount was $15.85 per week. If I was working (in my case in the US) I only had to pay £3.15 per week
If any of you get to speak to someone you should confirm if the payment must be received by 5th April of this year or is it just getting the application in
In the letter I got the Final time limit column says 5 April 2025 for the 2018 to 2019 tax year and before
For the most recent years Payment date without penalty is this year but the final time limit goes out 6 years after the end of the tax year
Does anyone here have a Government occupational pension that's affected by the McCloud Judgement?
Quote from: Dougal Maguire on April 02, 2025, 08:35:40 AMDoes anyone here have a Government occupational pension that's affected by the McCloud Judgement?
Still working but , few years to do before pension but within Mc Cloud judgement determination in finalising my best option
Quote from: Dougal Maguire on April 02, 2025, 08:35:40 AMDoes anyone here have a Government occupational pension that's affected by the McCloud Judgement?
No, but previously worked in pensions for the health service so have a decent understanding of it if you've any questions.
Quote from: oakleaflad on April 02, 2025, 10:41:17 AMQuote from: Dougal Maguire on April 02, 2025, 08:35:40 AMDoes anyone here have a Government occupational pension that's affected by the McCloud Judgement?
No, but previously worked in pensions for the health service so have a decent understanding of it if you've any questions.
I haven't got my McCloud assessment yet. Semi retired 4 years ago, fully retired a year ago. A friend who semi retired last year showed me his figures, commute £6k per year, pay back £10k to receive £91k plus £130k interest.
Quote from: Dougal Maguire on April 02, 2025, 01:32:42 PMQuote from: oakleaflad on April 02, 2025, 10:41:17 AMQuote from: Dougal Maguire on April 02, 2025, 08:35:40 AMDoes anyone here have a Government occupational pension that's affected by the McCloud Judgement?
No, but previously worked in pensions for the health service so have a decent understanding of it if you've any questions.
I haven't got my McCloud assessment yet. Semi retired 4 years ago, fully retired a year ago. A friend who semi retired last year showed me his figures, commute £6k per year, pay back £10k to receive £91k plus £130k interest.
When semi-retired are they still paying pensionable contributions? Is semi-retirement as part of Partial Retirement or did they go Part-Time hours wise? I'm asking as you don't have to pay back anything as part of the McCloud Judgement.
Essentially if you joined the pension scheme before 1st April 2012 and had any active service between 01/04/2015 and 31/03/2022 you will be impacted.
Your choice will be whether to move those 7 years service (or the part of those 7 years that's applicable) from the newer Career Average scheme (CARE in Health Service, Alpha/Partnership in Civil Service etc.) to your Legacy scheme. This will reduce what you receive in your newer scheme and increase what you get in your legacy scheme. You do not have to pay anything to do this, just decide if it's financially more beneficial for you.
Legacy schemes often had automatic lump sums whereas career average schemes don't (although options may be in place to convert some of your pension to a lump sum in both legacy and newer schemes). Lump sums tended to be tax-free whereas your monthly payments are usually subject to tax.
Note any pensionable service after 31/03/2022 will be in the newer scheme regardless of your choice.
Quote from: oakleaflad on April 02, 2025, 02:59:23 PMQuote from: Dougal Maguire on April 02, 2025, 01:32:42 PMQuote from: oakleaflad on April 02, 2025, 10:41:17 AMQuote from: Dougal Maguire on April 02, 2025, 08:35:40 AMDoes anyone here have a Government occupational pension that's affected by the McCloud Judgement?
No, but previously worked in pensions for the health service so have a decent understanding of it if you've any questions.
I haven't got my McCloud assessment yet. Semi retired 4 years ago, fully retired a year ago. A friend who semi retired last year showed me his figures, commute £6k per year, pay back £10k to receive £91k plus £130k interest.
When semi-retired are they still paying pensionable contributions? Is semi-retirement as part of Partial Retirement or did they go Part-Time hours wise? I'm asking as you don't have to pay back anything as part of the McCloud Judgement.
Essentially if you joined the pension scheme before 1st April 2012 and had any active service between 01/04/2015 and 31/03/2022 you will be impacted.
Your choice will be whether to move those 7 years service (or the part of those 7 years that's applicable) from the newer Career Average scheme (CARE in Health Service, Alpha/Partnership in Civil Service etc.) to your Legacy scheme. This will reduce what you receive in your newer scheme and increase what you get in your legacy scheme. You do not have to pay anything to do this, just decide if it's financially more beneficial for you.
Legacy schemes often had automatic lump sums whereas career average schemes don't (although options may be in place to convert some of your pension to a lump sum in both legacy and newer schemes). Lump sums tended to be tax-free whereas your monthly payments are usually subject to tax.
Note any pensionable service after 31/03/2022 will be in the newer scheme regardless of your choice.
Not sure of his position but when I partially retired in 2020 I continued to pay pension contributions until I fully retired in 2024.
Another item I found on the gov.uk site
https://www.tax.service.gov.uk/check-your-state-pension/modelling/contact-future-pension-centre
How to contact the Future Pension Centre
Request a call back
You can pay National Insurance gaps from April 2006 to April 2018 when you request a call back, even if we call after the deadline.
The deadline to pay April 2006 to April 2018 National Insurance gaps is 5 April 2025.
Request a call back by 5 April 2025, and you'll be able to pay for gaps, even if we call you back after the deadline.
I managed to get my payments in before the deadline to get credits going back to 2006. When I checked online the records did not show me with the credits. I called, they had received the money, but because of the flood of payments the estimate is currently 60 (sixty) weeks before the money will be assigned to the correct years.
Anyone paying from outside the UK get confirmation of whether they can pay Cat 2 or Cat 3 contributions?
Quote from: gallsman on April 25, 2025, 08:35:01 PMAnyone paying from outside the UK get confirmation of whether they can pay Cat 2 or Cat 3 contributions?
I am based in the US. I was able to pay class 2 for any weeks when I worked and was paying US social security taxes. For weeks where I was between jobs I had to pay class 3
Quote from: dec on April 25, 2025, 06:53:39 PMI managed to get my payments in before the deadline to get credits going back to 2006. When I checked online the records did not show me with the credits. I called, they had received the money, but because of the flood of payments the estimate is currently 60 (sixty) weeks before the money will be assigned to the correct years.
I paid a gap from 2007 online, and that year is now full. Think that was class 2
Another year I had to pay class 3 (can't remember why, but that's what they told me when I phoned). Paid it online too , it's gone out of my bank but that year hasn't been updated yet. I'm assuming it might take a few weeks, so I'll check on it down the line
So your situation sounds similar to mine there
Edit: 60 weeks??? What the....?
Anyone get their call back? I just checked online and it suggests I should be getting a call this week.
Quote from: gallsman on July 20, 2025, 09:54:54 PMAnyone get their call back? I just checked online and it suggests I should be getting a call this week.
Is there a deadline to get a call?
I got a call back. They just confirmed my NI number, dob and said they would be back in touch. That was about six or seven weeks ago. Have your NI number handy.
Quote from: marty34 on July 20, 2025, 10:26:33 PMQuote from: gallsman on July 20, 2025, 09:54:54 PMAnyone get their call back? I just checked online and it suggests I should be getting a call this week.
Is there a deadline to get a call?
There was a deadline to apply. As long as you got application in you're guaranteed a call back.
Quote from: Mad Mentor on July 20, 2025, 10:31:47 PMI got a call back. They just confirmed my NI number, dob and said they would be back in touch. That was about six or seven weeks ago. Have your NI number handy.
Have known it off by heart since I was 16!
Have just received a letter from HMRC. Getting to pay Class 3 contributions mostly but bizarrely from 2017 thru 2019 there are some weeks at Class 2 rate.
Also the letter is dated June 3rd and they've said there's only 31 days to pay...
Quote from: gallsman on July 27, 2025, 10:46:05 AMHave just received a letter from HMRC. Getting to pay Class 3 contributions mostly but bizarrely from 2017 thru 2019 there are some weeks at Class 2 rate.
Also the letter is dated June 3rd and they've said there's only 31 days to pay...
Post them a cheque dated 3rd July.
They also seem to want to charge me Class 2 contributions for years in which I was a full time student, whereas I'm pretty sure I should be exempt for those as was studying in the south?
Quote from: armaghniac on July 27, 2025, 11:06:58 AMPost them a cheque dated 3rd July.
Lol. Catch yourself on, grandad.
Quote from: gallsman on July 27, 2025, 11:13:02 AMThey also seem to want to charge me Class 2 contributions for years in which I was a full time student, whereas I'm pretty sure I should be exempt for those as was studying in the south?
Quote from: armaghniac on July 27, 2025, 11:06:58 AMPost them a cheque dated 3rd July.
Lol. Catch yourself on, grandad.
Well of course pensions are of more interest to those of us in the older generation! Actually, I did post a cheque to them, one of two cheques that I wrote in the year. That was I could attach a letter stating the years it related to and I could see when they cashed the cheque.
Just me and you @armaghniac still using cheques then?
I'm not even sure I can get a chequebook over here.
Probably not the best place to post but has anyone had to deal with bpo who look after claiming money back for HMRC?
I'd an issue with tax a while back, they paid me back a rebate but recently got a letter from bpo claiming I owed just over £1200!
So obviously phoned, 50 minutes later and the first guy was clean useless second one was useless and stupid and the third girl eventually, explained what the issue was, as if she was speaking to a five year old, I understand why, but they had their dates wrong and I didn't owe anything near what was quoted !
I initially thought it was a fraud but now wondering, after getting bombarded with texts from them, how it will affect my credit!
The girl is going to do a reassessment, hopefully get back to me!
Do they have a court judgment against you? If not it will not affect your credit file.
The best thing you can do is bypass the debt collectors and get in touch with HMRC directly, have you ducks in a row before doing so i.e. get all your dates written down and be clear why you do not owe them.
You should only be concerned if HMRC start to issue proceedings and if you do owe anything they should give you a reasonable time to set up a payment plan so you are not out 1200£ in one slap, hard enough paying that and getting and getting something never mind paying it and throwing it into the black hole of the state
Quote from: Milltown Row2 on July 27, 2025, 03:01:30 PMProbably not the best place to post but has anyone had to deal with bpo who look after claiming money back for HMRC?
I'd an issue with tax a while back, they paid me back a rebate but recently got a letter from bpo claiming I owed just over £1200!
So obviously phoned, 50 minutes later and the first guy was clean useless second one was useless and stupid and the third girl eventually, explained what the issue was, as if she was speaking to a five year old, I understand why, but they had their dates wrong and I didn't owe anything near what was quoted !
I initially thought it was a fraud but now wondering, after getting bombarded with texts from them, how it will affect my credit!
The girl is going to do a reassessment, hopefully get back to me!
Quote from: dec on April 25, 2025, 06:53:39 PMI managed to get my payments in before the deadline to get credits going back to 2006. When I checked online the records did not show me with the credits. I called, they had received the money, but because of the flood of payments the estimate is currently 60 (sixty) weeks before the money will be assigned to the correct years.
As an update to this, I just checked my records and the money has been correctly applied for 2006 through 2024, a lot quicker than the 60 week estimate I got.
With the current nervousness around the AI bubble is any of you considering moving your money from a pension pot locked in to the NASDAQ etc to somewhere more conservative?
Are any of you on any good money forums where this is a topic? I wouldn't mind being a bit more 'read up' on it.
Quote from: GAA Club Fan on November 20, 2025, 12:44:43 PMWith the current nervousness around the AI bubble is any of you considering moving your money from a pension pot locked in to the NASDAQ etc to somewhere more conservative?
Are any of you on any good money forums where this is a topic? I wouldn't mind being a bit more 'read up' on it.
Nvidia 3rd quarter earnings beat expectations so the AI bubble isn't for bursting just yet by the looks of things.
Quote from: Banks of the Bann on November 20, 2025, 04:11:49 PMQuote from: GAA Club Fan on November 20, 2025, 12:44:43 PMWith the current nervousness around the AI bubble is any of you considering moving your money from a pension pot locked in to the NASDAQ etc to somewhere more conservative?
Are any of you on any good money forums where this is a topic? I wouldn't mind being a bit more 'read up' on it.
Nvidia 3rd quarter earnings beat expectations so the AI bubble isn't for bursting just yet by the looks of things.
https://www.telegraph.co.uk/business/2025/11/20/us-nonfarm-payrolls-jobs-nvidia-ftse-100-markets-latest/
US stocks slump again
An early morning surge in US stocks has been more than reversed as AI fears resurfaced and jobs data increased uncertainty over a December interest rate cut.
Quote from: GAA Club Fan on November 20, 2025, 12:44:43 PMWith the current nervousness around the AI bubble is any of you considering moving your money from a pension pot locked in to the NASDAQ etc to somewhere more conservative?
Are any of you on any good money forums where this is a topic? I wouldn't mind being a bit more 'read up' on it.
You could put some of the money in cash or short term bonds and check it regularly. If there is a crash they will maintain their value.v The AI bubble is unstable.
Put it in Gold or Bonds!