State pension amount.

[gas112]

Local government looking after themselves .When it became clear there was going to be major redundancies in our local council within office staff the first thing they did was increase redundancy payments from 20 year max so 30 weeks max pay to 43 years 104 weeks pay max.
And then anyone made redundant over the age of 55 pension paid up to retirement age and no claw back for taking it early .
Talk about looking out for yourself

 

[Justin Passing]

I've chosen to pay nothing in the last 12 years.

If you're in employment earning money, you would be paying in something, surely . How people were earning and not paying enough, I don't know. Nothing extra, you mean? I think it was only a few years where the serps inputs were possible - there were a couple of different schemes..

 

[charliegolf]

Local government looking after themselves .When it became clear there was going to be major redundancies in our local council within office staff the first thing they did was increase redundancy payments from 20 year max so 30 weeks max pay to 43 years 104 weeks pay max.
And then anyone made redundant over the age of 55 pension paid up to retirement age and no claw back for taking it early .
Talk about looking out for yourself

Have you made anything else up today, or just the big whopper?

 

[Stivino]

Having worked for a local authority and having taken both voluntary severance and my pension early, I can confirm that you won't get your pension early unless you meet the conditions of "the 85 year rule".

 

[fillyboy]

Where abouts in Cornwall? I lived there for years and met my wife in Penzance

Mid Cornwall, St Austell area. Penzance & Newlyn are great places for 'proper' pubs.

 

[gas112]

Have you made anything else up today, or just the big whopper?

not made up at all it was all in the council minutes and oh yeah i forgot i worked for them and the pension paid up would have been a nice wee benefit for me . Will look for the link and put it up later.
Chief exec redundancy went from about 60k to around 160k
edit.
It was actually 179k redundancy on a wage of 106k so well over the 30 week rule

 

[Mottie]

If you're in employment earning money, you would be paying in something, surely . How people were earning and not paying enough, I don't know. Nothing extra, you mean? I think it was only a few years where the serps inputs were possible - there were a couple of different schemes..

Nope. Paid nothing. Most of my pay was in dividends. No NI payable on dividends.There’s other ways to legally avoid paying N.I. too.

 

[Ihavenojob]

Nope. Paid nothing. Most of my pay was in dividends. No NI payable on dividends.

You could pay as a self employed person, class 2 I think.

 

[Mottie]

You could pay as a self employed person.

You can’t be self employed AND be paid in dividends. I wasn’t self employed. I was an employee. Of my own company.

 

[gas112]

ni as self employed can be as low as around 150 quid a year

 

[gas112]

Having worked for a local authority and having taken both voluntary severance and my pension early, I can confirm that you won't get your pension early unless you meet the conditions of "the 85 year rule".

When was the 85 Year Rule removed?
On 1 October 2006, the 85 year rule was removed from the Regulations. If you were an active member as at 30 September 2006, some or all of your membership will still be protected by the 85 Year Rule. If you were covered by the 85 Year Rule, it will continue to apply from 1 April 2014. However, if you joined the LGPS on or after 1 October 2006, the 85 Year Rule will NOT apply to your circumstances.

 

[Stivino]

It hasn’t been removed.

 

[securespark]

Reminder to anyone who isn't sure, who isn't getting pension yet, to make an inquiry with https://www.gov.uk/check-state-pension to see if you've made enough contributions within the state system to give you a full pension.

I've done that, and so has Mrs S. We have both missed small parts of two years, but they are so long ago, we can't top up. Having said that, we're are on the maximum.

You can back-pay if you have "missed" years.

Only as far back as 06/ 07 IIRC...

 

[gas112]

It hasn’t been removed.

according to that statement it has in the circumstances of paragraph pasted

500 | Hymans Robertson

www.powyspensionfund.org

But as for the arrangement regards pensions for the local authority i mentioned that was def the case as we all attended the meetings and at time a special incentive

 

[Stivino]

I’m not going to be bothered reading any of that. I got it, its still in place.