ITS NOT AS GOOD AS IT SOUNDS
Think you are in a scheme that tops up your pension to your salary level until you retire....well one big company scheme soon lets you down.... your salary is defined for calculation purposes as the day after your med cert is withdrawn not the actual salary that you earn when they get round to retiring a year down the line after a nice pay rise.
From the reduced value of your salary they then deduct the value of your uncommuted pension..fair enough they then pay the difference.
...well no because they also deduct whatever is the value of the the invalidity benefit currently applicable approx £3600 per year...whether or not you claim it.....thats fair cos its youe choice r whether you want to claim....well it would be true except the DSS changed the rules in 2002 and claw back something like 50p for every pound your pension pays over £80pw...it means in practical terms that i doubt if any controller would get any money...so its ok the insurance save themselves 3600 which is a lot of money over say ten years...oh of course they review your case after 12months and reduce your payment by %50 if you are deemed capable of work
sorry about the garbled ending had finger trouble and posted jn error... was trying to say DSS will pay credits towards NI contributions but in return more reviewsand medicals...sorry again for the typos now you know why i retired
Last edited by PPRuDe; 26th Jun 2004 at 13:13.