UK Financial Adviser comments on frozen pensions

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Paul Swain

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Nov 25, 2021, 3:50:40 AM (3 days ago) Nov 25
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Hi Everyone!

A UK Chartered Financial Planner, Edmund Bailey, has created a YouTube video on frozen pensions.  You can see it at https://www.youtube.com/watch?v=DOf6wRZuwIw  It's pretty good, and well worth a like and a supportive comment.

It looks like he created the video after seeing all the comments from frozen pensioners on an earlier video https://www.youtube.com/watch?v=Y22VA4i31gw

My comment on that earlier video was:

Could you please explain why there needs to be a social security agreement between the UK and a country for increases to be paid? Is there an international agreement that specifies this? If not, what is the justification?

And if the sticking point is just the social security agreement, and UK Government wants to pay the increases, but is prevented by the lack of an agreement, why has the UK refused the recent Canadian request to negotiate a social security agreement?

I paid exactly the same NI as everyone else, so why shouldn't I get the same increases as everyone else?

see https://www.youtube.com/watch?v=Y22VA4i31gw&lc=UgwBCg2XOaD3Nw6XBkJ4AaABAg.9TvL0IqhPob9U2UeVrJObC

to which Edmund replied:

Blimey no sorry I can’t explain the legality of that legislation and why there would be a requirement for a social security agreement to be able to pay or not pay increases. That would require a lot of digging and looking back at the history of that position.

but it looks like he has now gone and done a bit of digging!  So a big thank you to Edmund!

Now all we have to do is figure out how to convince the UK Government to do some similar digging.


Paul


Elaine Pyne

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Nov 26, 2021, 2:31:09 AM (2 days ago) Nov 26
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Hi 
Thanks for the video.  Very interesting.
I paid a full stamp from when I started work as I was advised this would give me a better pension.
When my husband and I decided to move to Australia we were never told by anybody that our pension would be frozen.  We found out from English people living in Australia who had found out after they moved.
The government is basically using our money to fund all the other pensioners in other countries.

As an interesting point.  My husband, who had been a teacher/lecturer, received a letter from the teachers pensions after arriving in Australia to ask if he would forgo part of his pension to pay other retired teachers their pension.  A double whammy I think.🥺 

Thank you for all your help on fighting this injustice.

Regards. Elaine Pyne 

Sent from my iPad

On 25 Nov 2021, at 7:26 pm, Paul Swain <ata...@zaparaxy.net> wrote:


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Chris Hill

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Nov 26, 2021, 9:59:10 PM (2 days ago) Nov 26
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That's an interesting way of looking at it.
Yes especially because they realise that there will always be a ready supply of new pensioners retiring to Aus NZ and Canada because of family connections.
And now they will need a lot more to fund all those expats in the EU they have readily agreed to inflated pensions in their rush to brexit

alexander whitehead

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2:40 AM (20 hours ago) 2:40 AM
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HI I AM 88YRS SO YOU CAN SEE MY BRITISH PENSION AS BEEN FROZEN FOR A LONG TIME ,I HAVE WRITTEN TO EVERY PRIME MINISTER WHO HAVE BEEN IN OFFICE, ABOUT MY   PENSION NO ANSWER (CONFUCIUS HE SAY TALK IN TO A EMPTY BUCKET YOU GET A HOLLOW SOUND )  ALEXANDER WHITEHEAD

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