O.A.P. invitation.

Got the government letter yesterday asking did I want to register to receive my OAP pension end of May 24 !!!! What would they think I would do with it...defer it or donate to the "Do Gooders" NO...done on line in a Jiffy...got my bus pass and rail travel application on Simmer...gonna be off all over and enjoying it all

LINK

B&B I got my state pension last October and got no notification it was due if you don't claim it you don't get it and there's no back dating it you,s be surprised how many people don't claim it on time so I think that's a positive move to inform people

A lot of people think you automatically get your state pension but you have to apply for it
The other day I had to write details down off my driving licence and gave myself a shock has it runs out in March but the good news is I would get a notification about it before the due date.
Bad news is I will have to renew it twice 1st in March then again in August when I turn 70[B)
Some pensioners will get a shock next year because the new state pension could take them over their personal tax allowance this year. The tax man cannot take tax from your state pension but next year could send you a tax demand if you get paid more than your personal allowance so be aware of this

Bb
They lump your pensions together then tax you on the total income what you draw they get more that way

Personal allowance £12,570 before you become eligible for tax

I've dropped my trollies already. I know it's coming ..he'll have a bite out of my then 3 pensions...Death and Taxes. The only certainty in this life.

Are not all three of your pensions, and were not all three of your salaries paid for out of taxation? None of that possible unless people pay their taxes.

Only yesterday, I was reading about current problems faced by RN, and our armed services in general. ie Courting the electorate with tax cuts, which have almost exclusively benefited the more wealthy, has been a factor in rendering careers in the services less attractive.

Being unable to get the adequate funding resulting in diminished career prospects and rewards, so now not getting the quality/ numbers required.

So now, when drastic reduction in our armed services has occurred, they are seriously talking about conscription!

Which would you rather have when trouble strikes, a well trained and motivated professional force, or the likes of what we saw, from Argentinian conscripts in The Falklands or Russian in the current conflict?

I bet Putin is pleased to see UK wants to replace its professional servicemen with conscripts.

You end up paying tax 'twice' because you pay income tax, on the amount before you pay in pension contributions, and then you pay income tax again on your pensions, when they pay out.

TTS

Pension payments are deducted from gross pay before income tax is applied. National Insurance contributions are liable for tax but they represent a small part of the funding of state pensions.

I thought both employee and employer received tax relief on occupational pension contributions.

I don't mind paying tax Ena...it's unavoidable...what peeves me is that I have probably funded dead legs and lazy B'stards over the last 50 yrs. Never out of work...never claimed one benefit. .. Had a good win on the Pools with family many years ago though

I think people should pay their taxes.

On the other hand, I think that the tax system should be fair, and evidently, it is not. Should not be loopholes for privileged elites, and governments should not be granting favour and preference to some sections of society over others.

Taxation, as a way of paying for the state provision of some services, got grafted on to the pre-existing system of taxation being the vehicle by means of which, the powerful extracted tribute from the less powerful.

Unfortunately the 'entitled' are still able to exploit others in this way.

As gaffer said occupational pension contributions are deducted before tax and N.I. contributions, so are taxable when the pension is paid. State pension counts towards tax but is currently £1,969 under the tax allowance. So the first £1,969 of an occupational pension will be tax free with the remainder taxed at 20%. Personally I think all pensions should be tax free for those of us who have always worked.

Angel Wood

Spot on, the more you have paid in income tax and national insurance contributions during your working life, the less income tax you should be paying in retirement.

It used to be a case of the harder you worked for a living, the better off you would be in retirement, but today, thanks to many increases and additions in the benefit system, non paying of council tax etc, perks, the opposite is now the case!

Why work for a living with a employer, when you can now live on the benefit system and have a side line in selling drugs, tax free goods on the internet etc as is the case of many now?

Don't forget if you are married/civil relationship and your partner is on a low income you can claim £1260 of their tax allowance This takes your tax allowance to £13830 before paying tax

More factless waffle OC

Hey up, it did not take long to touch a nerve!

If I had my way OC...if you haven't contributed you are entitled to sweet FA.

“”Why work for a living with a employer, when you can now live on the benefit system and have a side line in selling drugs, tax free goods on the internet etc as is the case of many now?”””

Is this how you make a living Todger?

When I worked they reckoned you worked 1 week in every month for nothing after tax and insurance had been taken out don't know what it's like now.

Sorry bb you wrong about people who dosnt pay in the war lost my dad mam brought 5 of us up with very little help so now iam giving a shout up for women who have always been treated bad by the tax man over the years no offence your lucky

BB only thinks about/talks about/considers himself

OAP's LINK

Surfer_tom...I agree with you...they had it hard during and after the war....the benefits were not as they are today .. nowadays you have the local work dodger who knows every benefit and claim going...they are now second and third generation nee'r-do-well's who have no intention of contributing.

Bb
Ok bb see your point

Before the second world war was even worse as I had a grandfather who because of losing a leg in the first world war fighting for King and Country was unable to work and with no benefit system, lived together with my grandmother and kids in extreme poverty which resulted in my grandmother ending up with ricketts due to the lack of food and no money to pay for any medical treatment as there was also no free NHS in those grim days of real poverty!

As the saying goes, they don't know they are born today!

Do you want to go back to the good old days OC

I have had my state pension for 5 years. I also have a private pension so I'm taxed on that. Additionally I still work self employed so I pay the full tax on earnings. As I'm on state pension I don't have to pay national insurance, but I volunteer to pay it because the wonderful NHS need the money. We are so lucky to have such a free medical insurance. This may cause debate but I belive if you still work along with receiving state pension you should pay NI. That's just my opinion. I'm happy to carry on paying for this wonderful service. It's one of the reasons people want to come and settle here.

JR. After contributing N.I. for 30+ yrs I think that should suffice...there's no way you will get out what you have paid in.

Posted by: Billinge Biker (2374) View Billinge Biker's page

I've dropped my trollies already

maybe you could join your master when he's playing the organ/piano in the knack

BB, I'm not paying to get any more out of it, I'm paying because I want to help and it is in a bit of a crisisat the moment. But that's just something I'm happy doing. Everyone is entitled to their own opinion and I'm always fine with that. I can certainly say I've had some wonderful treatment over the years and still alive because of it!

Great attitude JR

JR

Yoo are one of the good guys

JR you have a valid point . Our current government couldn't organise a P up in a brewery ...yet give billions away to loads of lost and useless causes annually

Yes BB,
The government is continually a concern for everyone who struggles to know what vote might be a more favourable option.
I'm getting into my twilight years and I guess any potential government may be a lesser of 2 evils (tongue in cheek) I do worry for the youth of today and their future. Kids are the future and we need to address that.

Handsomeminer

Do you have to be so ignorant and sarcastic about times that you have never experienced?

Nothing ignorant or sarcastic with my post,OR you are out of touch with reallity