I Am Spitting Feathers About My Tax Code!

[Tilly2]

It has gone down again and I am now getting less of my Teachers' Pension than I was last year.

I worked hard for that! &*((%^!"£$%. :-(


I don't do rants, usually, but I am fuming.

[Tilly2]

I'm off to bed now. Thanks to you all for responding to my 'rant'. I will act on it tomorrow and hope to get to the bottom of it.

Good night all, I appreciate your time and effort.
xx

[mazie]

Night Tilly. Sleep tight xx

[New Judge]

Sorry, Tilly, Re-read my post this morning.

Your code should INCREASE by 11 (i.e. you have £110 more tax free allowance). £400 up, £290 down.

[ladybirder]

Tilly the taxman has eaten away at my private pension over the years and I now only get half of what I got when I first retired. Pensioners used to get a higher personal allowance but that is being eroded. So expect yours to do the same unless the PA is increased annually.
Also, I;m wondering how you got a £4 increase in your SP when it went up by £3.35 this month from £115.95 to £119.30? I only got a £3.35 increase and NOTHING on the SERPS element of my SP which I'm particularly miffed about. I foolishly thought SERPS would increase in line with the rest of my SP.

[New Judge]

Quite true, ladybirder. The "extra" bits of the State Pension (for which recipients actually paid for additionally) do not go up in accordance with the government's much lauded "triple lock". Of course, another iniquity of the "new" £155 pension is that all of it will rise at the same rate. So somebody receiving £155 under the old scheme (who paid extra for S2P, Serps, etc) will get a much lower increase than somebody receiving £155 under the new scheme. All perfectly "fair" of course!

[Islay]

For civil servant's they are now 'charging' full national insurance where as before they didn't you got it reduced so could this be a factor?

[ladybirder]

Islay I believe you stop paying NI once you reach SP age.
NJ, I hadn't thought about your last point. Even more miffed now. Thanks;-))

[Baldric]

[Baldric]

What happened there ^^^^^????

///Only people who reached State pension age on or after 6th April 2016 will be eligible for the new pension where the maximum is £155 pw.///

Earlier this week I rec'd confirmation that my State Pension (65 in July) will be a few pence short of £195. a week, very nice, straight into a savings account, that will do nicely ;o)

[retrocop]

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Tilly's spitting feathers and Baldric is lost for words. :-)

[Baldric]

Nice one! ;o)

[ubasses]

I take it you were still paying, or had paid in for many years to SERPS or SSP as it is now known Baldric.

[New Judge]

Yes thanks, Balders. It is the basic amount I was referring to when I mentioned the £155, but some people, like you (and I won't say you're lucky because you've obviously made extra contributions) will see more.

[Baldric]

I did make a couple of lump sum payments over the years.

[Tilly2]

I rang the tax Office, they were very nice and helpful when I eventually got through.

Unfortunately my tax code appears to be correct but If I pay off the underpayment, my tax code will alter and my TP will be back to where it should be.

The underpayment is to do with DWP not informing the Tax Office about the payment of my State Pension! My tax code was not changed for a couple of months and that's why I owe them £86.

[EDDIE51]

^ I said they were helpful and to not be scared of phoning them, it will all be sorted within a few weeks then ?