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UK State Pension

Discussion in 'Money Matters' started by Anon220806, Oct 21, 2014.

  1. oss
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    oss Somewhere Staff Member

    No John, you are a definite case that will qualify aged 65 the change does not come in till 2019-2020.
  2. Anon220806
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    Anon220806 Well-Known Member

    I was born in 1955
  3. oss
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    oss Somewhere Staff Member

    Ah sorry mixed you up with Methersgate :)

    IoM it is then ;) ?
  4. Anon220806
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    Anon220806 Well-Known Member

    Dont know. But the options might both still be there. Cos I am effectively in a joint and reciprocally agreed scheme.
  5. oss
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    oss Somewhere Staff Member

    You could always retire in IoM and then move back to the UK, get the best of both worlds and you could maybe even have moved back to the UK long before that and just do your 65th year in IoM :) ?

    I wonder if the rest of us could do the same? :) ;)
  6. Anon220806
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    Anon220806 Well-Known Member

    I o Man State Pensions are higher too. But everything is more expensive here anyway. So it all needs to be taken into account.

    My preference would be to move back to the UK upon retirement.
  7. Anon220806
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    Anon220806 Well-Known Member

    Both possibilities need to be looked into. Two systems brings two headaches! :D
  8. Anon220806
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    Anon220806 Well-Known Member

    I dont think one can land here on the eve of retirement and claim a Manx pension. By the time 2020 comes around I will have paid 34 years into the UK pot and 9 years into the I of M pot.
  9. oss
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    oss Somewhere Staff Member

    The thing is the pot does not really exist as the government spends the NI and tax as soon as it gets it, but no I was not serious, would be interesting to know what would qualify to try that option though.
  10. Anon220806
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    Anon220806 Well-Known Member

    Yes. I knew you were jesting.

    However they are aware of all the scams here. Same for tax. People from the UK are always trying to take advantage of the I o M tax benefits yet still effectively living in the
    UK. People buy homes here, rent them out but live in the UK and claim Manx tax. Not good if you get caught though. :D

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