ARmy Rumour SErvice

Originally Posted by Gassing_Badgers

Well, as the saying goes, if you're looking for sympathy - it's in the dictionary between shit and syphilis...


Anyone in the public sector (including the Forces) has endured the past two years with no inflationary payrise, and can look forward to a desultory 1.5% for the forseeable future.

Therefore anyone whose pension puts them into the 40% band, and continues to recieve an uplift each year based on CPI, is unlikley to find much in the way of of a shoulder to cry on in here...


Now, where is Stacker when you need him?

Derisory?

Conductor, you are whining because you earn enough to have to pay 40% tax.

Do you seriously expect any sympathy?

The pension you receive will be paid to you for the rest of your life. NOt a bad deal. its backed by HMG and you'll get it with no further effort from you at all.

I'm pretty certain you don't pay 40% tax on it, but you might pay 40% tax on *part* of your overall income. You do NOT pay National Insurance Contributions on your pension. Its likely that next year you'll have a personal allowance of £10k.

If you are getting paid an income from employment and the 40% tax rate is such a God-awful burden for you to bear, make a personal pension contribution which will give you tax relief at your marginal rate of 40%.

Alternatively, give some £ to BLESMA, H4H or the ABF and get that nasty 40% burden relieved as above.

Originally Posted by eodmatt

Derisory?

Desultory, derisory, disappointing, dogshit.


All of the above apply.

Originally Posted by jarrod248

How vile it musst be to have that pension stab you in the back, truly wicked. The rest of us will be working longer, paying more and getting less, trot along.

That really was wicked.........good,but wicked!

Originally Posted by Conductor

In the last budget, much was made of your basic personal allowance being raised to £8k but little was made of 20-40% threshold being lowered by £3k. Now I pay Tax at 40% on my pension.

For those of you who are still serving, be warned, that golden challis called the pension is only any good to you if you are in employment. If your out of work it will bar you from all benefits that may be available.

Oh bollocks. Living on your pension doesn't put you in the 40% tax bracket unless you have other earnings. Give us a break and stop weeping about fuck all.

Unfortunatley from this computer I cannot give Dingerrs posts the Likes they deserve.
One thing that I noticed in this area (BFG) a long time ago is that the only people who moan about the lack of money or high taxation are those who have little if anything to moan about. Those who do not earn much don't moan. As has been mentioned, sympathy is in the dictionary somewhere between--------

PS There must be lots of people who would love to struggle on a Conductors pension. Life is hell.

OK a quick question regarding the new tax allowance going up to just over 9K...am i right in thinking if my annual pension is going to be just over 10K am I best in telling the tax man that my pension is my main income then any job i get as my second income.......or my pension is my second income??? Does it make any difference...Ive heard conflicting views on this.

I suspect the OP has even less to whinge about if he went on to be selected for a LE Commission and managed to end up as a Maj/Lt Col. If that is the case and he retired recently, his pension may be close to attracting the top whack of tax and therefore he really does need to show a little humility and back off. Mate, the only things certain in this life are the Taxman and the Grim Reaper*!

*Granted, both are a pair of cnuts, but they are only doing their job when all is said and done.