I was looking forward to today to get my first full state pension, it also coincided with my Prison Service pension being paid in, state pension was what they said I would get and Prison Service pension almost £200 down, I rang HMRC and they said 'your tax code has changed because we cannot tax the state pension at source so we take it from other sources ie other pensions, and you are still working' so on my first pension I lose almost a quarter of it because I dared to work all my life, and continue to do so, to pay for scrounging twats up and down the country, thieving cnuts, fucking fuming😠

A fella I worked with about a decade ago left his own retirement do early as he didn't feel well. Went to bed, and never woke up. His retirement literally lasted about 12 hours after 45 years service. 😥

34 minutes ago, only1swanny said:

You pay in and it's taken before tax, so they'll tax you when you take out instead. 

Glad someone is paying attention. Bravo sir. 

58 minutes ago, only1swanny said:

You pay in and it's taken before tax, so they'll tax you when you take out instead. 

 

23 minutes ago, RoadRunnerFan said:

Glad someone is paying attention. Bravo sir. 

Indeed

Although I’ll be the first to admit that it took a conversation with my financial advisor before I properly understood this

8 minutes ago, MancWanderer said:

 

Indeed

Although I’ll be the first to admit that it took a conversation with my financial advisor before I properly understood this

Relief at 40% as a worker, withdraw at 20% as a retiree. Literally free money ignoring investment returns. Won't be everybody's circumstances but should work for many if you biff the mortgage with the tax free element of the pension drawdown (or before).

2 hours ago, Dimron said:

My only advice is to get a plan... not all that financial crap... get a plan in your head of how you are going to spend your days without (in my case 50 years of building sites)... this is my biggest problem, I have interests but they are hobbies at the end of  the day. I do a jumbo crossword every day to exercise the brain and still read books... the brain is a muscle and it should be looked after

I do have a plan, of sorts, I am disabled and use an electric scooter and wheelchair, it is only my legs that have gone, yet, plenty to do around the house and garden plus I have been having keyboard lessons, so I have a bit to keep me busy, albeit slowly

10 hours ago, athywhite1958 said:

I was looking forward to today to get my first full state pension, it also coincided with my Prison Service pension being paid in, state pension was what they said I would get and Prison Service pension almost £200 down, I rang HMRC and they said 'your tax code has changed because we cannot tax the state pension at source so we take it from other sources ie other pensions, and you are still working' so on my first pension I lose almost a quarter of it because I dared to work all my life, and continue to do so, to pay for scrounging twats up and down the country, thieving cnuts, fucking fuming😠

Bet ya moan about heating allowance as well 😁

1 minute ago, Big E said:

Bet ya moan about heating allowance as well 😁

Absolutely, I am only carrying on working until June to use a Government building to keep warm for the next 8 months, thieving cnuts😇

Just now, athywhite1958 said:

Absolutely, I am only carrying on working until June to use a Government building to keep warm for the next 8 months, thieving cnuts😇

Fight the power my friend. You really should be living in the sun now though. 

Just now, Big E said:

Fight the power my friend. You really should be living in the sun now though. 

My missus won't do more than 10 days away from home, her and youngest daughter have 4 horses which are her priority 

2 minutes ago, athywhite1958 said:

Absolutely, I am only carrying on working until June to use a Government building to keep warm for the next 8 months, thieving cnuts😇

I think I met you briefly in Plymouth a couple of years back and thought you were a belting fella.

Don't this government that's thieving off you also pay your wage and pension?

Not taking the piss mate I'm in exactly the same boat. 

1 minute ago, athywhite1958 said:

My missus won't do more than 10 days away from home, her and youngest daughter have 4 horses which are her priority 

Poor fella stuck in athy.

come visit the Mersey riviera we will look after you  
 

 

1 minute ago, RoadRunnerFan said:

I think I met you briefly in Plymouth a couple of years back and thought you were a belting fella.

Don't this government that's thieving off you also pay your wage and pension?

Not taking the piss mate I'm in exactly the same boat. 

Were you in the pub near the docks, I ended up with LW for my sins, yes this Government pay me and my pension for working for them

3 minutes ago, Big E said:

Poor fella stuck in athy.

come visit the Mersey riviera we will look after you  
 

 

Only if you get me freebies to watch Paul Smith

Just now, athywhite1958 said:

Were you in the pub near the docks, I ended up with LW for my sins, yes this Government pay me and my pension for working for them

Yeah that's me - I was talking to LW too. Was a great weekend despite the result.

Hard to piss n moan about MADMAX when it is literally our income. 

3 minutes ago, RoadRunnerFan said:

Yeah that's me - I was talking to LW too. Was a great weekend despite the result.

Hard to piss n moan about MADMAX when it is literally our income. 

I know, doesn't mean we have to like it

20 minutes ago, athywhite1958 said:

I know, doesn't mean we have to like it

Aye. But it helps to keep some perspective. 👍

2 hours ago, only1swanny said:

You pay in and it's taken before tax, so they'll tax you when you take out instead. 

That was the first thing that came into my head as soon as I saw the thread, but not having a 'works' pension of my own, I wasn't sure.

Tax is full of winners and losers. If you earn £30k a year all your life and pay your tax on that sum, you’ll be getting a full state pension. Compare that to the WWays average earner who gets £150k a year and pays £50k a year in tax and still only ends up with the same state pension as our first contender. Is that fair?

State pension will be gone in a decade

Everyone employed in the last 25 years will have payed into a workplace scheme

state pension only given to our new arrivals !

(bit sneaky ) just they never paid in. 

Tiresome this , but i just need to confirm  before i post that everything i post is utter bollocks 

as in complete and utter bollocks

@athywhite1958 did you also get a lump sum?  I took the maximum amount allowed to ensure I was only paying the minimum MADMAX for future monthly pension payments.  

8 hours ago, Jol_BWFC said:

Tax is full of winners and losers. If you earn £30k a year all your life and pay your tax on that sum, you’ll be getting a full state pension. Compare that to the WWays average earner who gets £150k a year and pays £50k a year in tax and still only ends up with the same state pension as our first contender. Is that fair?

A fair point and one that we've had for a very long time.

That's what sticks in the craw about the oft heard phrase, "that those with the broadest shoulders..."

They already do, and at some point it becomes counterproductive.

10 hours ago, athywhite1958 said:

Absolutely, I am only carrying on working until June to use a Government building to keep warm for the next 8 months, thieving cnuts😇

We haven't mentioned we stop paying NI at retirement age yet 🙂

11 hours ago, Cheese said:

A fella I worked with about a decade ago left his own retirement do early as he didn't feel well. Went to bed, and never woke up. His retirement literally lasted about 12 hours after 45 years service. 😥

My mums lasted 1 month pal.

Retired from the hospice and Marie curie then a few weeks later covid kicked off so got stuck back in to help with the jabs and stuff.

All ended and she got covid going to the hairdressers a month after she packed in for good.

Life's short folks....never turn fuck all down.

10 hours ago, athywhite1958 said:

Were you in the pub near the docks, I ended up with LW for my sins, yes this Government pay me and my pension for working for them

Near the docks? You lost?

Back on subject, how much longer can the state afford inflated civil service pensions? Apart from Nurses the pay gap to private sector isn’t as high as historically.

 

2 hours ago, Barnstoneworth White said:

@athywhite1958 did you also get a lump sum?  I took the maximum amount allowed to ensure I was only paying the minimum MADMAX for future monthly pension payments.  

Yes I did, it paid my mortgage off