State pension amount.

[Justin Passing]

And as per usual people like yourself dont believe the written word .
I have full grasp of the situation i know roughly how many years i was contracted out i know that you now have to have 35 years contributions and the figures they have given me in the past and at present tally up .
I am amazed someone like yourself is worried about a few quid missing when you are making thousands daily . The time it took you to phone them you could have been playing the market making ten fold .

It depends who wrote the written words.
E.G. You write boliox.
If you have it in writing in words even you can understand, then it's probably ok. If it's as clear as your previous post, I wouldn't trust you if I were you.

I expect a lot of things surprise you.
It's easy to do things and make phone calls while a stock price rises. Couple of dozen key-clicks a day, quite often. One can buy and sell the same stock 200 times a day, every time it ratchets up, and get maybe 50% more, but I CBA.

Like today, this one, continuation from yesterday (as mentioned in the other thread): frantic action not required, between 134 and 170 It stopped out on the 2 humps so you wait until it's blue again and press "buy".. ( Covers last 2 days) Nothing hard or clever about it.

EG, tmewise, I phoned HMRC and told them what I'm doing, so I get things in order. They were surprised too, that I know perfectly well how to not pay income tax, and NI like most people do, but I'm happy to contribute. On the phone probably 15 minutes. I would let you do the sums but I'm curious..
It's about 0.5% in 15mins,
80k in, x5, gives 2k. Less tax so halve it.

 

[gas112]

It depends who wrote the written words.
E.G. You write boliox.
If you have it in writing in words even you can understand, then it's probably ok. If it's as clear as your previous post, I wouldn't trust you if I were you.

I expect a lot of things surprise you.
It's easy to do things and make phone calls while a stock price rises. Couple of dozen key-clicks a day, quite often. One can buy and sell the same stock 200 times a day, every time it ratchets up, and get maybe 50% more, but I CBA.

Like today, this one, continuation from yesterday (as mentioned in the other thread): frantic action not required, between 134 and 170 It stopped out on the 2 humps so you wait until it's blue again and press "buy".. ( Covers last 2 days) Nothing hard or clever about it.
View attachment 334825

EG, tmewise, I phoned HMRC and told them what I'm doing, so I get things in order. They were surprised too, that I know perfectly well how to not pay income tax, and NI like most people do, but I'm happy to contribute. On the phone probably 15 minutes. I would let you do the sums but I'm curious..
It's about 0.5% in 15mins,
80k in, x5, gives 2k. Less tax so halve it.

yep and as i said your meant to be worried about a few quid a month shortfall in your pension ,,,,,,,,I smell shyte

 

[Justin Passing]

I didn't have a shortfall in my pension.
Wife did, and a quick sum showed it would clearly be a decent investment. She's the sort who'll live to 100.
Before i started stock dibbling, but it would have made no diff.

Again you're making up the shyte - I'm not worried. You want me to be worried so you can do the straw man thing yet again. Sad wee man.

 

[gas112]

I didn't have a shortfall in my pension.
Wife did, and a quick sum showed it would clearly be a decent investment. She's the sort who'll live to 100.
Before i started stock dibbling, but it would have made no diff.

Again you're making up the shyte - I'm not worried. You want me to be worried so you can do the straw man thing yet again. Sad wee man.

what making all those thousand a day and your making the mrs pay her own way what an absolute tight feker you must be
Stock dibbling and there was me thinking you were the next nick leeson

 

[cdbe]

In my experience it's quite complicated. I have 33 years of qualifying contributions, being quite lazy I've only worked for 20 years, the rest is made up of contribution credits when I was at 6th form and University (some kind of short lived government initiative at the time) and child care credits (as a househusband caring for children under 12 - this is available to grandparents, even potentially long distance since COVID, so may be worth looking into for some).

I was contracted out (in a private pension scheme for my working life) so my initial state pension forecast was quite low when I finished work in 2012 but I think the contracted out reduction has been eroded by subsequent (childcare) credits. These credits stopped the other year when my youngest turned 12.

My forecast when I last checked at that time was that, based on my record, I'd get (IIRC) £185 of a maximum £191 that I could earn (if I had 35 years contributions).

So this is the "head hurter" for me - I could buy two extra years contributions (for the £800 odd per year) to get my maximum amount, but I'd read that each year bought gets you about £5.50 a week extra pension - but clearly I wouldn't get an extra £11. I believe it's because (possibly to do with my contacting out legacy) my maximum pension is still slightly capped. The reality is that buying the second year would only get me an extra 50p a week - the moral here is to check really carefully - the government would happily take that £800. I don't know whether the pensions advisory service (who advise on this business) would have pointed this out - but be aware!

I'm toying with how to get the extra year that's worth having (obviously other than just paying for it - we have two children to fund through university and I'd rather have £800 now than £5.50 a week in 14 years). Possibly my offspring will produce a grandchild or my mother will need a carer - either of which attract credits. I know the "self employed" trick has been mentioned but I've not been able to grasp this?

And, the thing that's often hidden with smoke and mirrors, is that most people (with other pensions/income) will pay more tax as a result of any extra state pension - so the headline £5.50 a week will only gain you £4.40 in your pocket.

 

[Mottie]

Goes up from today. 8.5%. Yeah, yeah, I know you may pay tax on it but who else is getting a 8.5% uplift and will not be paying tax? Same with the personal allowance remaining the same. It’s remained the same for everyone, many of who won’t be getting an 8.5% rise. Would you rather be paying tax on something or paying no tax on nothing?

 

[gas112]

8.9% Company pension rise after around a 8% re adjustment rise back in feb

 

[carmanmemoranda]

Would you rather be paying tax on something or paying no tax on nothing?

That's a poor analogy.

Want less punches to your body, or more ? They are still punches

 

[Diver Fred]

Eventually, in the last couple of days, received my Statement from HMG. Previous years I've received it much earlier and I'm certain it was called a 'Pension'. The document I received last week called it a Benefit... Is this first step towards the state pension becoming means tested?

 

[carmanmemoranda]

Eventually, in the last couple of days, received my Statement from HMG. Previous years I've received it much earlier and I'm certain it was called a 'Pension'. The document I received last week called it a Benefit... Is this first step towards the state pension becoming means tested?

Always a reason for changes of words and descriptions.

But change of pension is inevitable?

 

[gas112]

Been classed as benefit from the 2014 pension act

 

[Mottie]

That's a poor analogy.

Want less punches to your body, or more ? They are still punches

So is that. If everybody is getting punches, would you prefer your punches hard or soft?

 

[carmanmemoranda]

So is that. If everybody is getting punches, would you prefer your punches hard or soft?

I'd look for no punches.

 

[Mottie]

I'd look for no punches.

Unfortunately, that’s not an option.

 

[carmanmemoranda]

Unfortunately, that’s not an option.

So I don't have to agree it's a good choice