Discussion in 'Armed Forces Pension Scheme' started by CHADNORMAN, Mar 26, 2009.
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You just never know!!
Anyone else fancy signing?
and it was a shite idea when you posted it before.
Yes I do.
Done to death already. Moderator pleeeeeeeeeeeeease spare us from further outbreaks of this nonsense.
How about our salaries tax free too? And free houses and things. Just cos we're military and everyone owes us a living.
You are barking at the moon:
1. Gordon and his cronies hate the armed forces and -
2. Even if he liked the armed forces (and he doesn't) he has got the economy in such shite that we will all be paying significantly MORE taxes for the foreseeable future - not less.
Spare a thought for those living outside the EU who are taxed on their pensions after 22 years yet are given the high port when they try to access those taxes; UK child benefit being a classic example (2nd family an' all that). Affected parties should note that a challenge to that effect is currently awaiting judicial review @ the Royal Courts of Justice.
I can feel a petition coming on...
Being another 'off-shore, non-EU' pensioner ...
1. When I left UK I stopped paying National Insurance. However ...
I pay in my new abode for the service THEY provide.
Child benefit comes from that pot of money, IIRC.
2. I still pay UK tax on my pension, which admittedly funds parts of the UK Govt's inept fumblings. However ...
a. That tax is helping to pay for my pension.
b. I believe I can ask for Tax-Free, at which point I lose inflation-proofing; it gets frozen in time. Why should I get increases based on UK inflation when I don't live in UK?
c. And if it was paid to me tax-free, I would then have to pay tax on it my new abode.
Whatever, as others have said, we've been there and done that
Hi Blue, income tax doesn't fund your state pension, it is funded by NI contributions. Those with 30 years of contributions have been told to cease paying NI as they're 'maxed-out' (qualified for a full pension some time between 65th & 68th birthday for those currently under 50).
Edited to clarify state pension.
They never told me that!
So, I have my "Old Age" Pension Forecast here. It says I have "38 qualifying years [of NI contributions] which will give me 87% of my State Pension."
Mind you, they've changed the forking rules so often I'm amazed anyone understands them
My Service pension [for which I am constantly grateful] surely comes from the Defence Vote, funded from Income Tax.
Many times during my career & after discharge it has been explained that we contribute around 11% of our salaries towards our (1975) pensions while serving. For reasons that aren't clear the MOD never seemed to make this info available; preferring instead to have us believe they're 'free' or funded by taxes.
I could be wrong...
No they haven't - they've been told not to make additional voluntary payments to top up any missing years of contribution. As long as you are working (and below state pension age) you have to pay NI conts.
The AFPRB always assume there's a contribution in their deliberations, IIRC its about 6.5% like most of the public sector, ie about a 1/4-1/5th of the value
Just so - pay is generally 'abated' [when doing the AFPRB comparisons] to reflect the non-contributory pension. You contribute one way or another!!
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