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Government "Simplifying the SP" (Read 4115 times)
Knocking On
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Government "Simplifying the SP"
Jan 14th, 2013, 1:22pm
 
As it appears the goal posts are being moved yet again by the Gvnmt, I have discovered a future problem for some BBC Pensioners of a certain catagory.

If like me you left BBC employment due to ill health way before your SPA and also took the levelling option we could/will have a problem.

When taking the LO I first ensured that I had 30 years of NI contributions which will provide a full SP which would cover the BBC reduction between 65 and 75.

Then the goal posts were moved for the first time regarding SPA...mine has gone from 65 to 66.

The BBC Pension service has already kindly agreed that anyone whose SP date has been changed from 65 the LO will remain payable up until SPA has been reached..but will still only reduce the BBC Pension until the age of 75.

Today the goal posts have been moved again in repect of how many years NI contributions you need for a future full SP, instead of 30 you will need 35. This is only if you will begin drawing your SP after 2017....anyone such as my self will therefore have a reduced SP.

The reduction in the SP will (once the LO reduction is applied to the BBC pension) reduce the aggregated (BBC/SP) pension income.....as it said at the time of taking the LO ensure you will have a full SP payable..if not your income will reduce considerably until the age of 75.

This is exactly the situation I now find myself in through no fault of my own.

I thought I would flag this up incase there is anyone out there who will not get there SP until after 2017 and who has taken the LO at the moment.

I know there will be less and less people involved with the LO as it was abandoned by the BBC Pension service last Sept.

I am contacting the Pension service today to flag up the problem and hopefully in the fullness of time I will get an answer as to what may be done.

I suspect that nothing can be done though....as we are in strange times.
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JohnW
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Re: Government "Simplifying the SP"
Reply #1 - Jan 15th, 2013, 10:36am
 
Once again, 'my' thanks KnockingOn, for your diligence in such matters. [Still not sure if I ever got to know your real monicker!]http://www.ex-bbc.net/yabbfiles/Templates/Forum/default/wink.gif

It would be really nice if the BBCPO were to be communicating such information to us pensioners should there be some 'change in our fortunes' such as this Gov't appears to be making (without much of the fine detail leaking out). Perhaps they've been cut back too, and are truly in Duck-mode!
We are indeed fortunate that Paul Lewis seems to take such a keen interest in our affairs!

I think I'm due to get my State Pension later this year (that's when I get to 65, anyway) - having taken the Levelling Option from the start, so I wonder if anyone will 'officially' tell me such details as are important to "my continued well-being" given such changes?

In the meantime, keep that 'weather eye' open, and alert us to any further (detrimental) changes.
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John-Westbury  
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