State Pensions – Notification thereof.

[Peter G. ShawParticipant @peterg-shaw75338]

Ok, a query totally unrelated to model or indeed any engineering.

Has anyone received notification of their State Pension entitlement for the 2023/24 year? I haven't and it seems to me that it is late this year.

As a matter of interest, I find it erm, "interesting" that all those organisations "requiring" payment, have all sent out their demands. Even BT has told me that my telephone bill is going up! But, I've yet to receive anything telling me how much extra I'm going to receive this next year! Or even, in the case of the State Pension, if I'm going to receive anything!

Cheers, from a wondering "just what the blazes is going on",

Peter G. Shaw

p.s. This of course means it will arrive Monday a.m.

[Peter G. ShawParticipant @peterg-shaw75338]

[BazyleParticipant @bazyle]

Mine came several weeks ago. I'm new to the life of 7 day weeks with no excuse to turn down requests with the 'working ' excuse so it was a bit of a surprise to get the letter.

[EmgeeParticipant @emgee]

Received my notification of the increase around a month ago.

Emgee

[Chris Evans 6Participant @chrisevans6]

Mine arrived a good few weeks ago. just after my tax code wiping out a fair chunk of the increase.

[Mike PooleParticipant @mikepoole82104]

Mine came on Monday but as our regular postie is on holiday a big bundle arrived.

Mike

[Adam MaraParticipant @adammara]

Ours came about 3 weeks ago, nice increase, but won't cover all our bills that keep gong up and up.

[Graham MeekParticipant @grahammeek88282]

I received mine a few days ago and my wife received hers several weeks ago.

Regards

Gray,

[bernard towersParticipant @bernardtowers37738]

Same as Peter not had mine yet, could it be anything to do with alphabetical order?

[Peter G. ShawParticipant @peterg-shaw75338]

Looking at last years advices (for my wife and me) the letters were dated 12 March. I haven't checked any further back 'cos I can't be bothered.

I suppose alphabetically could be the reason.

What I have done though, because I have a database showing expected dates of payment and how much, is to attempt to work out our expected pay dates based on what information I have gleaned from the government websites (starting 10 April for me, 20 April for my wife) and how much I think we should be receiving. It's going to be interesting seeing just how near I am!

I also have a works pension, but that is not due until the end of April so not that bothered as yet. Except that again, I think I've managed to work out what the new rate will be.

Anyway, all rather academic really, but at least It's nice to know that some people have received notification whilst others (Bernard) have not. Many thanks for the replies.

Peter G. Shaw

[V8EngParticipant @v8eng]

Mine arrived last week but the wife’s was delivered many weeks ago!

[SillyOldDufferModerator @sillyoldduffer]

Posted by bernard towers on 25/03/2023 11:17:01:

Same as Peter not had mine yet, could it be anything to do with alphabetical order?

More likely National Insurance number, perhaps combined with post code for efficient bulk-mailing.

Computer programmers avoid using personal names like the plague. Millions of duplicates, ladies get married, folk use nicknames, have aliases, vary spellings, and change by deed-poll etc. Much better to identify individuals with an error-detecting reference.

Peter suspects a conspiracy, more likely the letter is on the way or lost in the post. It is noticeable that my bank hasn't increased the interest rate paid on my savings, whilst my son and daughter were both whacked immediately with higher borrowing rates. No-one ever said capitalism was fair!

Dave

[Phil PParticipant @philp]

Mine also came a few weeks ago, the letter was dated February.

Phil

[vic neweyParticipant @vicnewey60017]

Mine and her indoors both came the same day, because we were born before 1951 we get a lower state pension than those born after

[SamsarandaParticipant @samsaranda]

Mine and the wife’s have yet to arrive, but our surname is nearly at the end of the alphabet so probably the reason. My twisted perception of the country’s present state says perhaps the establishment has already run out of cash ! Dave W

[Adam MaraParticipant @adammara]

Could be the post of course. My son told me a customer sent him some colour samples to match a job. Posted from Poole, 200 miles away as the crow flies. They arrived this week, having being posted (and franked!) on the 16th of February!

[davebParticipant @daveb17630]

Posted by vic newey on 25/03/2023 12:18:43:

Mine and her indoors both came the same day, because we were born before 1951 we get a lower state pension than those born after

Yes, mine is the same, not sure what HMGs reasoning is for this.

The government's shameful decision to tax state pensions is the thing that really gets me.

Probably not the best place for this discussion though.

daveb

[HOWARDTParticipant @howardt]

Almost certainly alphabet related, a friend B had his a couple of months ago, still waiting for mine under S. Checking previous years have arrived one or two weeks before now, so maybe this coming week.

[Nicholas FarrParticipant @nicholasfarr14254]

Hi Peter, my letter is dated January 2023, and I think I got it about a week before February.

Regards Nick.

[Dave HalfordParticipant @davehalford22513]

Posted by daveb on 25/03/2023 14:30:55:

Posted by vic newey on 25/03/2023 12:18:43:

The government's shameful decision to tax state pensions is the thing that really gets me.

Probably not the best place for this discussion though.

daveb

Mine isn't, the personal allowance is £12,570 which is more than £200 a week

Payments of over £40,000 a year into private pensions are taxed and also if your pot is over a million quid , which affects only the rich.

Edited By Dave Halford on 25/03/2023 16:00:52

[OldironParticipant @oldiron]

Got my notification in February.

regards

[Chris Pearson 1Participant @chrispearson1]

Posted by vic newey on 25/03/2023 12:18:43:

Mine and her indoors both came the same day, because we were born before 1951 we get a lower state pension than those born after

It's not quite as simple as that. I had thought that 40 years of contributions would get me the full amount, but I have to keep paying NI (and keep working) until my 66th year for that.

There is an option of deferring one's claim, which results in a larger annual amount; but obviously, for fewer years.

[Peter G. ShawParticipant @peterg-shaw75338]

As far as I can determine, both our NI No.s have different dates attached to them, eg my pay day is different to hers, and to be fair this has always been reflected in the different days it arrives in our accounts. In addition, her pay day appears to be at least a week behind mine, but all seems to work out ok in the end.

Yes, because of our birthdates, we both get the lower rate of state pension. Also, in both instances we had to pay extra to get the maximum we were entitled to because we didn't have the requisite no. of years. Wasn't much, and I can't remember how much, just the four or so cheapest years out of what was missing. Piece of cake really. 'Er indoors of course got allowances for having produced 3 children over 30 + years.

Rules and regulations seem unfathomable at times, but as long as we get it, I'm not too bothered. And let's face it, the important point is when it arrives in our account – the letters really aren't that important other than confirmation of what we are about to receive. And when.

So, once a again, thanks for the responses. At least I now know I'm not alone in possibly late receipt.

Cheers,

Peter G. Shaw

[Martin Shaw 1Participant @martinshaw1]

Peter and I share the same surname initial and I too haven't had notification of a state pension increase, I don't suppose I'm going to be jumping with joy when it does arrive.

I can share Vic's sentiment and whilst I am slightly younger than him my pension amount was impacted partly through my opted out employment but also by the increase in contibuting years and date of retirement. A group of people were put in the unhappy position of not being able to complete the full 40 years after it had gone up from 35 and the date when the counting started. I think I understood the ramifications when they were explained to me actually by the governements pension service, the outcome is none the less shabby but unsurprising.

[Chris CrewParticipant @chriscrew66644]

"The government's shameful decision to tax state pensions is the thing that really gets me."

I am no pensions or tax expert but I thought that the State Pension has always been taxable. If it's a persons only income in retirement then it is usually a lower amount than the Personal Allowance and hence there would be no liability to income tax. If it is supplemented by an occupational pension or other investment income then the State Pension is deducted from the personal allowance and any remaining allowance is then applied to the tax liability accrued on any other income.

For those contributing to an occupational pension, whether that be a defined contribution or defined benefit scheme, income tax is only applied to their income after the contribution has been deducted, i.e. tax relief is applied at source meaning that a £100 per month contribution actually only costs the employee £80 because they have paid £20 less tax. Which in reality means income tax has been deferred because the pension contributions are actually deferred income which produce a higher income upon the maturity of defined contribution money purchase scheme or a proportion of the final salary in the case of a defined benefit scheme. I assume that the self-employed will have made their own arrangements.

That is my understanding as to how it works, certainly in my own case when I was employed, but I am always happy to be re-educated by those who possess greater knowledge and I am sure there must be some tax and financial experts who are also model engineers.

Edited By Chris Crew on 25/03/2023 21:31:50

Edited By Chris Crew on 25/03/2023 21:47:07

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