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Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4499
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
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I am Gwendra XXXXXXXX, wife of Peter XXXXXXXX

Customer Question

I am Gwendra XXXXXXXX, wife of Peter XXXXXXXX who asked previous medical and legal questions. I retired in 2013 and took my occupational pension but not my state pension which I became entitled to on 09 April 2013, but am planning to apply for shortly. Can you clear up a couple of things? I understand you have to apply for the state pension as it is not paid automatically. Presumably I can apply for it now? Are the occupational and state pensions paid separately? Also I am confused by the fact that an amount for the state pension appears on my P60.

Submitted: 1 year ago.
Category: Finance
Expert:  Rakhi Vasavada replied 1 year ago.
Dear Gwendra,

Hello and welcome. Thank you for providing an opportunity to assist you.

First of all, let me try and highlight the basic and fundamental difference between State and Occupational Pension.

The state pension is what all people in the UK receive once they reach the state retirement age (currently 65). This is funded by National Insurance contributions made while in work.

On the other hand, An occupational pension is one that is provided by your employer into which you pay a certain amount of your salary each week/month with your employer also making a contribution. You can then access this once you retire from your employment. Occupational schemes might be defined benefit (as in the public sector) or ‘defined contribution’. Defined contribution schemes deliver pensions that build up through investments and the pension an employee receives will be determined by the growth (or not) of their investment over time.

Having said this, so far as claiming State Pension goes, YES, you can apply for it now. You should get a letter 4 months before you reach State Pension age, telling you what to do.

If you haven’t got a letter 3 months before your State Pension age, phone the claim line. They’ll discuss with you what you need to do.There are 4 ways to claim it and they are as under.

1. CLAIM IT ONLINE
2. Over the phone -State Pension claim line

Telephone: 0800(###) ###-####br/> Textphone: 0800(###) ###-####br/> Monday to Friday, 8am to 6pm (except public holidays)

3. download the State Pension claim form and send it to your local pension centre

Coming to your one more question -- YES, both State and Occupational Pensions are paid separately.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question,

Warm Regards
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4499
Experience: Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
Rakhi Vasavada and other Finance Specialists are ready to help you
Customer: replied 1 year ago.

The other thing is, can you explain why an amount for state pension, even though I have not claimed it, is shown on my P60. Thank you.

Expert:  Rakhi Vasavada replied 1 year ago.
Dear Gwendra,

Hello again. Thank you for your follow up reply.

From what I understand from your situation, what you have is not actually P60. It is a P-60 styled form. Pension's office do not send out P60s. However, pensioners received an annual letter from the DWP setting out their entitlement for the forthcoming year, but they did not receive a statement of their full annual entitlement for the previous tax year.

Now, after proposals from the Office of Tax Simplification are adopted, Pensioners receive a P60-style form detailing their income over the previous year.

I believe this is what you have.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question,

Warm Regards,
Customer: replied 1 year ago.

For Rakhi Vasavada,

Sorry, I have misled you about the P60. The form I received was from the Inland Revenue, a Tax calculation for the year 2012/13. From May 2012 I was entitled to State Pension and I actually retired from work in July 2013. For the tax year 2012/13 it shows 2 items for income- PAYE for my work and State Pension Benefits and tax has been charged on both items. This is why I am puzzled because I have not applied for or received State Pension, I cannot understand why it is shown. They seem to be assuming that because I was entitled to it I was actually receiving it.

Apologies for my error and can I have your opinion please?

Regards

Gwendra

Expert:  Rakhi Vasavada replied 1 year ago.
Dear Gwemdra,

Hello. Nice to hear from you again.

As you are puzzled, so am I. The only option I can suggest you is to get in touch with Inland Revenue and get this corrected.

I have not clues to this. My sincere apology on not being able to help you for this part of your question.

I am sincerely sorry.

Warm Regards

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