Swap Pension Payment Date

[Downsizer]

I imagine the answer is no, but has anyone ever managed to change the payment date of their pension? I'd like to move mine from mid month to the end of the month....

 

[Dan_Brown]

I'm sure i read that once it's in payment you can't change the date.

I'll see if i can find something................

 

[freebass]

Changed mine a few years ago was painless

 

[muttywhitedog]

I'm interested to see if our military pension will be classed as a pension and increased in April by September's 6.7% CPI or a Benefit and increased by Octobers 4.6% CPI, as reported by several media sites. I cannot imagine Johnny Mercer taking the lower figure lying down.

 

[Vauxhall]

Some one on PPRUNE has just reported that he changed his date without difficulty.

 

[Donkey871]

I'm interested to see if our military pension will be classed as a pension and increased in April by September's 6.7% CPI or a Benefit and increased by Octobers 4.6% CPI, as reported by several media sites. I cannot imagine Johnny Mercer taking the lower figure lying down.

I can't state it for a fact about AFPS75 but AFPS05 is definitely linked to September CPI so no question - it is 6.7%

 

[Downsizer]

Changed mine a few years ago was painless

How mate?

 

[Vauxhall]

I can't state it for a fact about AFPS75 but AFPS05 is definitely linked to September CPI so no question - it is 6.7%

Public Sector Pension increases are normally linked to the rise announced for benefits. That is why, when a Budget in the early 2010s said that benefits would rise by CPI rather than RPI, service pension increases were linked to CPI. We are waiting to see what the Autumn Statement (22 Nov) says about benefit increases .

 

[busby1971]

Public Sector Pension increases are normally linked to the rise announced for benefits. That is why, when a Budget in the early 2010s said that benefits would rise by CPI rather than RPI, service pension increases were linked to CPI. We are waiting to see what the Autumn Statement (22 Nov) says about benefit increases .

Interesting if they change it, Monthly inflation rates are year on year, if it moves to October, then it would an annual rate for a period of time that’s longer than a year.

 

[Vauxhall]

I am not sugggesting that the increase moves only the announcement of what the increase measure will be. The CPI rate for each year is always based on the headline rate for September of the previous year. We know that was 6.7% but what we do not know is whether the government will raise benefits (and by implication public sector pensions) by the same amount - that we should learn on 22nd.

 

[muttywhitedog]

Using October's CPI instead of September's would be a £400 a year difference for me. That's £400 every year for the rest of my life.

Meanwhile, changes to inheritance tax will do nothing for anyone inheriting under £500,000 from their parent.

I bet the slimy feckers dont backdate rises to Oct 2021 or Oct 2022, both of which were higher than the month before.

 

[freebass]

How mate?

Called pension people and was asked to send a letter detailing new date for payment and date was changed, pretty easy process.