Author Topic: Lost Pension Credit, Now Worse Off.  (Read 1012 times)

mick607

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Lost Pension Credit, Now Worse Off.
« on: Dec 28, 2017, 10:17:24 AM »
Was receiving PC until last August when I reached age 65. Went on to state pension because I have a small works pension.
Lost free dental treatment for me & the wife, lost full housing benefit & council tax support, now paying half also paying income tax on works pension.
It seems t6hat I am much worse off financially than someone on pension credit. So much for paying in to a works pension for years.

sparky

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Re: Lost Pension Credit, Now Worse Off.
« Reply #1 on: Dec 28, 2017, 10:53:52 AM »
mick607, Which is exactly why I would never choose to join a pension scheme, despite all the sales pitch by those with vested interests, far better to hide  any spare money away during your life in ways that thieving politicians cannot find ways to deprive you of it when you retire. whether you on any benefits or not.

granny moss

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Re: Lost Pension Credit, Now Worse Off.
« Reply #2 on: Dec 28, 2017, 01:26:05 PM »
It is a hard blow when things happen to make you worse off financially . I was self employed / freelance, and When I asked if I should pay in for a Pension, a lady from the Inland revenue advised me against it. I was paying and continued to pay in the simple stamp for a married woman and income tax.. I am so glad I listen to the kind lady advice. gmx

Phil

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Re: Lost Pension Credit, Now Worse Off.
« Reply #3 on: Dec 28, 2017, 02:24:52 PM »
Was receiving PC until last August when I reached age 65. Went on to state pension because I have a small works pension.
Lost free dental treatment for me & the wife, lost full housing benefit & council tax support, now paying half also paying income tax on works pension.
It seems t6hat I am much worse off financially than someone on pension credit. So much for paying in to a works pension for years.

Welcome to the forum & welcome to the IPFEAGN club.
"I've stopped arguing with idiots. They will only bring me down to their level and beat me with experience.

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Raven

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Re: Lost Pension Credit, Now Worse Off.
« Reply #4 on: Mar 30, 2018, 04:42:35 PM »
This is just what happened to one of my sisters, she lost so much by getting a small private pension. :(

Undercover Pensioner

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Re: Lost Pension Credit, Now Worse Off.
« Reply #5 on: Mar 30, 2018, 06:22:20 PM »
Was receiving PC until last August when I reached age 65. Went on to state pension because I have a small works pension.
Lost free dental treatment for me & the wife, lost full housing benefit & council tax support, now paying half also paying income tax on works pension.
It seems t6hat I am much worse off financially than someone on pension credit. So much for paying in to a works pension for years.
How are you worse off Mick?  Your state pension plus works pension must come to more than Pension Credit or you would still be getting it.  If you mean your are worse off because you have lost the benefits you got automatically when you were on Pension Credit, and you really are only getting a little above that level, it might be worth checking them out about them. 

Benefits which come automatically with Pension Credit may be available - you may just have to apply for them.  It's a pain but worth it if some or them or some part of them is restored.  Some benefits, such as Pension Credit, are gateway benefits and trigger the others automatically.  Without that trigger you need to put in the forms yourself.
« Last Edit: Mar 30, 2018, 06:28:13 PM by Undercover Pensioner »
Poverty exists, not because we cannot feed the poor, but because we cannot satisfy the rich.

Bill Stickers

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Re: Lost Pension Credit, Now Worse Off.
« Reply #6 on: Apr 23, 2018, 03:10:39 PM »
What you have lost on PC is not claimable when you reach Pension maturity. Council Tax, dental care relief canopies etc all disappear. You can however transfer 1,190 from your spouse's 'Tax free' allowance to yours (presuming your married). This can give you 238 a year extra income, plus they'll backdate it to 2014, (if applicable, which it sounds like you may not be). This little known benefit legislation went on the Statute book in 2014 and unlike general allowances, you have to be 'pro-active' and apply for it. Camercon's idea was to be able to mouth off, in his slick Blair-like way just how much in total he was giving to the common man. Cynically in reality they kept it very quiet, so few have ever claimed it - allez oop ...

Latterly this caring and kind Government is suddenly very keen for this gift to become known everywhere, as they scurry about desperately trying to salvage the pensioner vote in time for their Council Election Slaughterhouse appointments a week Thursday, on May the 3rd. A good date as it's probably where she'll end up as well!

This is the link for the Revenue to claim from and I hope it helps ...

https://www.gov.uk/government/publications/income-tax-notice-of-transfer-of-surplus-income-tax-allowances-575t

Undercover Pensioner

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Re: Lost Pension Credit, Now Worse Off.
« Reply #7 on: Apr 23, 2018, 03:20:50 PM »

Bill Stickers I do think we have to be careful not to mislead.  Council Tax, National Health Low Income scheme do not necessarily "disappear" and you don't only get them if you are getting Pension Credit.  You may be entitled to all or part of them (as I said above) if your income is still within their parameters.  If it is low but not quite as low as the Pension Credit level you will have to apply, that's all.  It is always worth doing this if you believe yourself to be on a low income.


 
Poverty exists, not because we cannot feed the poor, but because we cannot satisfy the rich.

mick607

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Re: Lost Pension Credit, Now Worse Off.
« Reply #8 on: Apr 23, 2018, 09:00:41 PM »
What you have lost on PC is not claimable when you reach Pension maturity. Council Tax, dental care relief canopies etc all disappear. You can however transfer 1,190 from your spouse's 'Tax free' allowance to yours (presuming your married). This can give you 238 a year extra income, plus they'll backdate it to 2014, (if applicable, which it sounds like you may not be). This little known benefit legislation went on the Statute book in 2014 and unlike general allowances, you have to be 'pro-active' and apply for it. Camercon's idea was to be able to mouth off, in his slick Blair-like way just how much in total he was giving to the common man. Cynically in reality they kept it very quiet, so few have ever claimed it - allez oop ...

Latterly this caring and kind Government is suddenly very keen for this gift to become known everywhere, as they scurry about desperately trying to salvage the pensioner vote in time for their Council Election Slaughterhouse appointments a week Thursday, on May the 3rd. A good date as it's probably where she'll end up as well!

This is the link for the Revenue to claim from and I hope it helps ...

https://www.gov.uk/government/publications/income-tax-notice-of-transfer-of-surplus-income-tax-allowances-575t

Many thanks for the info, nothing to lose will give it a whirl !