Army Pension Impacts on State Pension

[Peter Gilfoyle]

[hr]
Hi Ken

Many thanks for this, very much appreciated. If it just the impact of tax on whole earnings then not a lot to do about it. Same thing will apply if I go and get a wee job in B&Q or ASDA; just for the discount!

Wheelbarrow? A very small one and probably smaller that yours, matey!!

Mind you, it is (will be) helpful, having Army, NHS Superannuation and state pensions but, you pays your dues and cross your fingers and sometimes it works out! You'll be in the same boat won't you, didn't you work for a local authority or something?

Stoke in March is definitely out this time round, unfortunately. What with holidays (October), Christmas, and getting married in April the cash is gushing out of the account. Hopefully I'll be in a better position post-April, to come down to some of the does; may depend upon the exchange rate though and whether I have been ethnically cleansed from Scotland by then! May even need two passports!

Thanks again, Ken, oh font of all knowledge!

Cheers

Peter
[/quote]

Hi each, I am sure the OAP is taxable. When I retired at 66 with a years accrual of OAP the first thing they did was remove nearly a third of the lump sum in tax.

Regards
Phil
[/quote]

Hi Phil,

The OAP is a taxable allowance but isn't taxed at source....hence why other 'income'
is reduced by tax% of your OAP....your case is slightly different in that you retired later and accrued what would have been paid had you took OAP at 65......you and young Gilfoyle are both in the 'taking it home in a wheelbarrow brigade'......me on the other is a poor old OAP with only an army pension and OAP....don't have a civvie job pension....I will bore you to death with that one over a drink in November?
Regards
Ken
[/quote]

Why Ken! You do say the nicest things! Not been called "young" anything for some time!!

It was good (for me) to hear of your experinece, Phil, as I was thinking about working on for one or two years to increase my superannuated years. However, rapidly coming to the conclusion that it probably isn't worth it; from your experience and other factors.

I am so pleased I asked the question of TBoB's! Nothing 'deminishing' about your guys! Clear responses, no frills or ambiguity and first hand knowledge of where I was coming from.

Couldn't you all go set up an advice centre, or perhaps write a plain English fact sheet for the various 'Forces' advisory services? Its like swimming through treacle! They could make a modest contribution to a chosen charity perhaps?

Cheers

Peter