RAF Pension - no increase this year?
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RAF Pension - no increase this year?
I've just had my annual printout from EQUINITI, advising me of my Service Pension rate for 15 Apr 2016 and onward.
HELLO??? The same payment as it was for 15 Apr 2015 and onward, so therefore no increase??
Does Inflation = Zero, or have I missed something? Any Pension Wizards care to comment?
Disconcerted of Offshore
HELLO??? The same payment as it was for 15 Apr 2015 and onward, so therefore no increase??
Does Inflation = Zero, or have I missed something? Any Pension Wizards care to comment?
Disconcerted of Offshore
"Mildly" Eccentric Stardriver
Quote. "The decision is based on the Consumer Price Index (CPI) in September of the preceding year. As the CPI was minus 0.1% as at 30 September 2015, the Government has confirmed there will not be an increase in April 2016."
Presumably you also received a copy of the 2016 APFS Newsletter with it? On page one read the paragraph "Pension Increase" about two thirds of the way down the page - all will be revealed! 
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Sorry, I'm a prat! Missed the newsletter bit, and just worked from the Pension figures.
Thanks for the responses.
<creeps away into hole in ground>
Thanks for the responses.
<creeps away into hole in ground>
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Different Tax regime here, of course. I'm "No Tax" in UK, and a flat 20% after 'allowances' 
... but I don't get "Winter Fuel Payments" like those resident in sunny Spain [and presumably elsewhere in the EU]
Still, yesterday's mail from St Lloyds in UK should generate some interest at HMRC, as I have a UK Bank account or two. Their Tax Compliance outfit has been in touch ... I shall worry about the £55 interest that earned last year [not]. Still, it keeps people in employment, eh?
... but I don't get "Winter Fuel Payments" like those resident in sunny Spain [and presumably elsewhere in the EU]
Still, yesterday's mail from St Lloyds in UK should generate some interest at HMRC, as I have a UK Bank account or two. Their Tax Compliance outfit has been in touch ... I shall worry about the £55 interest that earned last year [not]. Still, it keeps people in employment, eh?
MPN11,
I think you'll find that the rules have changed. You can no longer get the payment if you live in Cyprus, France, Gibraltar, Greece, Malta, Portugal or Spain because the average winter temperature is higher than the warmest region of the UK.
... but I don't get "Winter Fuel Payments" like those resident in sunny Spain ......
I don't own this space under my name. I should have leased it while I still could
Of course HMRC are not aware of this. They increased the allowance allocated to one pension by 2.5% when the pension didn't change.
It took 5 months last year and a couple of dozen notices and revised pension payments before I got them to get it right. Now they have done it again. Their sheer unimaginative ineptitude just creates more work for me, my pensions providers and ultimately for them.
It took 5 months last year and a couple of dozen notices and revised pension payments before I got them to get it right. Now they have done it again. Their sheer unimaginative ineptitude just creates more work for me, my pensions providers and ultimately for them.
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Inflation in Jersey = 1.5% - pi55ed off
I don't own this space under my name. I should have leased it while I still could
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PN ... we pay 20%. I believe that's what the UK rate is too
The main difference is that we don't have a higher band, so it's 20% across the board.
Oh, and our GST is 5%, but then when shipping costs are factored in things tend to be a bit more expensive than UK.
The main difference is that we don't have a higher band, so it's 20% across the board.
Oh, and our GST is 5%, but then when shipping costs are factored in things tend to be a bit more expensive than UK.
I don't own this space under my name. I should have leased it while I still could
MPN, Ty, how about personal allowance?
GR, spot value for September. As it is based on the CPI it is free from Government interference. I mean the Chance would never persuade the supermarket s and p ok majors to hold or reduce prices in September would he?
GR, spot value for September. As it is based on the CPI it is free from Government interference. I mean the Chance would never persuade the supermarket s and p ok majors to hold or reduce prices in September would he?
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MPN, Ty, how about personal allowance?
* Other allowances also exist.
https://www.gov.je/TaxesMoney/Income...esReliefs.aspx
Last edited by MPN11; 18th Apr 2016 at 10:17. Reason: Expanding the answer
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I would like to jump in on this forum ref pensions.
I have heard that my contributions to the National Insurance for the 36 years of service is now considered as only a half stamp, thereby only allowing me to draw a reduced state pension.
Is this correct?
I have heard that my contributions to the National Insurance for the 36 years of service is now considered as only a half stamp, thereby only allowing me to draw a reduced state pension.
Is this correct?