State pension query

[BoldonLad]

Being extremely young I wasn’t aware of the 4 weekly payment detail.
Doesn’t that play havoc with monthly direct debits as the pension moves every month?

I have a "Company Pension" too, which is paid calendar monthly, so, I am not totally dependant on my State Pension, but, with a bit of planning/budgeting, it would not be difficult to manage "normal" monthly DD with 4 weekly payments, 10 minutes a month with a spreadsheet would be more than adequate... IMHO

 

[mistyoptic]

Being extremely young I wasn’t aware of the 4 weekly payment detail.
Doesn’t that play havoc with monthly direct debits as the pension moves every month?

I spent some years working for the co-op who paid 4 weekly. It’s actually quite nice if you budget according to your pay packet. Once a year you get a “free” wage credit. Useful for holidays or new bikes etc.

 

[Smokin Joe]

Being extremely young I wasn’t aware of the 4 weekly payment detail.
Doesn’t that play havoc with monthly direct debits as the pension moves every month?

Why should it? You're pension payment date gets earlier each month so you are always ahead of the DDs and it's hardly rocket science to keep track of your balance.

 

[Chislenko]

I start next year so can I ask how soon before your 66th birthday do you apply for your pension to ensure you get it on time?

If you don't apply do they not notify you to tell you it is due?

 

[Smokin Joe]

I start next year so can I ask how soon before your 66th birthday do you apply for your pension to ensure you get it on time?

If you don't apply do they not notify you to tell you it is due?

They notify you inviting you to apply.

I had a right palaver with mine, started filling in the online form as advised and I got so far when it told me it was unable to proceed because my information did not match their records. I then phoned up and the guy told me we could do it over the phone. I started giving him the info he asked for and after about five questions he told me that he couldn't go any further for the same reason I got online. He said he was not allowed to tell me why and would have to terminate the call, but he would send a paper form as that was the only way they were allowed to update records.

The form duly arrived, was filled in and just over a week later I got the letter giving me my award and the date it would start. When Mrs SJ's date came the online form had been simplified and it went through straight away.

 

[Chislenko]

They notify you inviting you to apply.

I had a right palaver with mine, started filling in the online form as advised and I got so far when it told me it was unable to proceed because my information did not match their records. I then phoned up and the guy told me we could do it over the phone. I started giving him the info he asked for and after about five questions he told me that he couldn't go any further for the same reason I got online. He said he was not allowed to tell me why and would have to terminate the call, but he would send a paper form as that was the only way they were allowed to update records.

The form duly arrived, was filled in and just over a week later I got the letter giving me my award and the date it would start. When Mrs SJ's date came the online form had been simplified and it went through straight away.

Thanks Joe.

 

[Davos87]

I filled in the online form around end of October. I received a txt from DWP end of November saying they were working on my state pension claim and they would contact me when completed. Ive heard nowt since, I reach pensionable age this week so I find that a tad surprising? If I dont get any communication in the next few days Im going to contact them.

 

[Smokin Joe]

I filled in the online form around end of October. I received a txt from DWP end of November saying they were working on my state pension claim and they would contact me when completed. Ive heard nowt since, I reach pensionable age this week so I find that a tad surprising? If I dont get any communication in the next few days Im going to contact them.

I'd phone them ASAP.

 

[PeteXXX]

Why should it? You're pension payment date gets earlier each month so you are always ahead of the DDs and it's hardly rocket science to keep track of your balance.

And you get 13 payments per annum

 

[Davos87]

I'd phone them ASAP.

I took your advice and rang this morning. Took a while to get through to speak to a human being mind. The upshot is that they are handling my claim, it’s seems however, that another dept does the actual working out of the sum you are entitled to then when they have finished this calculation they pass it on to another dept who then write the letter officially informing you of what you’re entitled to and when you get paid. 3 days before my 66th birthday the lady couldn’t tell me what the final amount I will get is as they are STILL working on it. She said I will receive the letter up to 10 working days after my qualifying birthday. 🙁
I am glad I rang and checked as think it might have given them a bit of a nudge. Thanks.

 

[iluvmybike]

Be aware that you will not get the full state pension if you were in a 'contracted out' type of company pension scheme

 

[Chislenko]

I'm slightly confused by some of these posts, doesn't take much these days!!

I still have a year to go and if I go on the government website, put in my NI number, it tells me I will be getting £175 a week and some pennies.

I was contracted out of serps for a long time and am already recieving a pension from that.

My national insurance years, i.e. years in employment were 46, I would say at least 15, if not more were contracted out of seeps.

Was never fortunate enough to work for a company that offered a pension scheme.

Hence my confusion, if they can tell me what I will be getting with a year to go why can't they tell people who are on the verge of claiming their pension?

 

[BoldonLad]

I'm slightly confused by some of these posts, doesn't take much these days!!

I still have a year to go and if I go on the government website, put in my NI number, it tells me I will be getting £175 a week and some pennies.

I was contracted out of serps for a long time and am already recieving a pension from that.

My national insurance years, i.e. years in employment were 46, I would say at least 15, if not more were contracted out of seeps.

Was never fortunate enough to work for a company that offered a pension scheme.

Hence my confusion, if they can tell me what I will be getting with a year to go why can't they tell people who are on the verge of claiming their pension?

The State Pension system is complex, with numerous changes over the years. It changed again shortly after I reached retirement age (2012). To the best of my knowledge there is a basic state pension, with various “add ins” accrued over the years (eg serps and various similar items).

 

[ebikeerwidnes]

I'm slightly confused by some of these posts, doesn't take much these days!!

I still have a year to go and if I go on the government website, put in my NI number, it tells me I will be getting £175 a week and some pennies.

I was contracted out of serps for a long time and am already recieving a pension from that.

My national insurance years, i.e. years in employment were 46, I would say at least 15, if not more were contracted out of seeps.

Was never fortunate enough to work for a company that offered a pension scheme.

Hence my confusion, if they can tell me what I will be getting with a year to go why can't they tell people who are on the verge of claiming their pension?

OK - I have little knowledge so take this with a bucket of salt


but

I thought that if you were contracted OUT of SERPS then that was because you were enrolled in a company pension scheme

I would check that if I were you - you could have a load of money waiting for you

or not - still worth a proper check

 

[Chislenko]

OK - I have little knowledge so take this with a bucket of salt


but

I thought that if you were contracted OUT of SERPS then that was because you were enrolled in a company pension scheme

I would check that if I were you - you could have a load of money waiting for you

or not - still worth a proper check

No, when you contracted out of serps your money is diverted to a pension company to invest (Prudential in my case) It is essentially treated like a private pension for you to take as and when with the usual 25%, annuity, drawdown etc options.

I have already took this and it pays out far more than if I had not contracted out and had took the government pension top up option (calculator available on gov site)