@ first thing we talked about was the pension. I sent him the link to your video. He was both excited to watch it and mad at the British government. He said he would watch it last night…and I guarantee he did. I am also sending him the link to the web page as well. So many thanks for the information you provided.
Thank you for covering Frozen UK Pensions. Both my husband and myself will have frozen pensions in our future. We don’t like what is happening but we have topped up missing years and done everything that we can to mitigate the issue. Hopefully this video helps future pensioners and their financial planners too!
Great video! Thank you. I am 38 living in Canada and had no idea. Shame on the UK Gov of all stripes! Keir Starmer has locked himself in claiming to lead a government of service for working people. Here's a chance to prove it. A 99 year old lady should not have to travel at the busiest and costliest time of year to petition the PM. I will be watching closely.
It used to be that if you’d lived outside the UK for 15 years you lost your vote, even if you remained a British citizen and remained taxable there. They dropped that this year and now we can vote in the UK again. Guess what I’m petitioning my UK MP about … ?
Thank you Ian for all the work you do on the campaign. Also, thank you Adam for bringing attention to this issue. I have just two more years of contributions to make, and then five or more so years until I can start drawing this pension.
Thanks to Adam Bornn for interviewing Ian Andexser on Frozen UK Pensions in Canada. I will have a frozen pension in my future. Hopefully others see this content and take measures to help their future selves today.
Based on information shared in issue #2, 2024 of the Justice magazine, published by the Canadian Alliance of British Pensioners (CABP): Visiting a country where the UK State Pension isn’t frozen? When traveling to a country in which the residents do receive the increases (a non-frozen country), you have what the DWP calls a 28-day “golden window” to contact them to unfreeze your pension for the duration of your visit. The critical date is the day you arrive in a non-frozen country. You have 28 days before you arrive, and 28 days after you arrive, to advise the DWP of the dates and the country/countries that you are visiting. Your pension will be uprated to the current rate for the duration of your visit.
150 countries are affected and yes they do mention this and 550K and including the ever-forgotten British ex-pats in Thailand and Indonesia just 2 and never ever forget we do not use the NHS and other huge free benefits.🥵🥵🥵🥵🥵🥵
Currently the UK government is allowing top ups of NI including all years back to 2006. The deadline to apply is April 5, 2025. After that you'll only be able to top up for the preceding 6 years. My husband and I are both Canadian and have worked in both the UK and Canada and are moving back to Canada to retire early in 2025. We've topped up our NI the maximum we are allowed and we've deferred our pensions to 70 to offset some of the loss . It is a ridiculous policy.
The Nova Scotia retired teacher's pension does not receive a yearly cost of living increase. The present teachers in Nova Scotia are not aware of this and how it will effect their future retirement .
Anyone who works in the provincial government in NS is also in the same boat. I tell my co-workers about our non-indexing pensions all the time because they do not have a clue how it will affect them.
You can top up UK National Insurance contributions but there is a limited number of years you can back date. So don't delay if you are thinking about this. I calculated that it would take about 4 years of pension payments to recoup the cost. Hope to live that long!!!!!!
There is a window of opportunity to buy back(top up) missing years. Normally 6 years but you can top up back to 2007. The deadline is April of 2025. Then it all reverts back to 6 years. I feel sorry for anyone that has less than 10 years and will get nothing. Everyone has a different situation but topping up was the correct thing for my husband and myself.
The time that it takes to recuperate one year's contribution depends on whether you're making a Class 2 or a Class 3 NI contribution. The annual amount for 2024/2025 is Class 2: £179.40, and Class 3: £907.40. Each annual contribution will buy you an annual increase of £342.11 (April 6, 2025, estimated). So, if you get approval for paying Class 2 contributions, you recuperate your money in 6.29 months.
@@OptimisticHominid Since early 2024 you can now apply for Class 2 "online". It takes about 6 weeks. You need a Gateway Account to start the process. When we applied for Class 2 in 2020 we had to do it all by hand. We are glad that we did though!
This got me thinking about cost cutting measures around retirement policy that we could see in Canada. Here are things I could see happening: 1. Withdrawals from TFSA will count towards income for OAS and GIS eligibility and clawbacks. 2. No OAS or GIS for people living abroad. 3. OAS clawback starting at $50,000
In recent memory, only the Conservatives have made a negative move on pensions, when they raised the eligibility age for OAS and GIS to age 67. The Liberals brought it back down to 65 when they came to power. Also, the Liberals implemented the increase in CPP benefits (requiring increased contributions, of course).
I agree there is no way UK government will backdate however it’s also too complicated to have a multi tier where eg the man in White Rock gets 2% increase on his current pension amount. The fairest would be pay all UK pensioners the current rate regardless of country of residence. This will affect me personally soon too. I have a relative who has not had increase for 30 years and has been fighting this and rightly points out how much this indirectly costs the Canadian government as well but they don’t seem to want to rock the boat with Britain
You mention that you will be affected soon....if so...have you weighed topping up your National Insurance Contributions? This golden opportunity to buy back up to 18 years all comes to an end in April of 2025.
@ yes paid in April to buy back missing years while I’ve been in Canada. Still waiting for HMRC to actually update my details they aren’t exactly fast.
Interesting, and this affects friends of mine, so thank you for this video. Does this issue exist issue for those of us who lived in the US and paid into Social Security?
Search on-line for the Canadian Alliance Of British Pensioners and go to their website. For detailed information you'll need to join their organization but it's not expensive and they have a wealth of information.
Not so. The UK is the only country out of the 38 OECD member countries that freezes pensions in some countries. UK State Pensioners, collecting a pension, in US or the Philippines, not frozen....but Canada and Australia are frozen.
@@samanthathompson9812 I think Canada figures you paid into a pension with the promise that the benefits (including indexing) will be paid when the time comes to collect and that's what you get. Those benefits were bought and paid for by you and your employer, the CPP isn't a government funded program, and it's totally wrong you wouldn't get the pension as promised that YOU paid for. The UK government seems to have a different perspective.
Hello 👋 parallel wealth, any idea why? the Government of Canada 🇨🇦 is stealing my pension funds from my CCP?, I am currently living in the Philippines now because I cannot afford to live in Canada, thank you for the update 🇵🇭
Excellent information. My 87 year old dad is one of those affected. I am going to his house today to show him this video.
Just curious, how did the visit with your Dad go?
@ first thing we talked about was the pension. I sent him the link to your video. He was both excited to watch it and mad at the British government. He said he would watch it last night…and I guarantee he did. I am also sending him the link to the web page as well. So many thanks for the information you provided.
Thank you for covering Frozen UK Pensions. Both my husband and myself will have frozen pensions in our future. We don’t like what is happening but we have topped up missing years and done everything that we can to mitigate the issue. Hopefully this video helps future pensioners and their financial planners too!
Same for my mum, over 22 years, no indexing whatsoever.
Great video! Thank you. I am 38 living in Canada and had no idea. Shame on the UK Gov of all stripes! Keir Starmer has locked himself in claiming to lead a government of service for working people. Here's a chance to prove it. A 99 year old lady should not have to travel at the busiest and costliest time of year to petition the PM. I will be watching closely.
It used to be that if you’d lived outside the UK for 15 years you lost your vote, even if you remained a British citizen and remained taxable there. They dropped that this year and now we can vote in the UK again. Guess what I’m petitioning my UK MP about … ?
Thank you Ian for all the work you do on the campaign. Also, thank you Adam for bringing attention to this issue. I have just two more years of contributions to make, and then five or more so years until I can start drawing this pension.
It’s scandalous. My husband is in the same position. The UK government is criminal to do this. Good job with the campaigning.
Awesome topic. Great job. Parallel Wealth rules :)
Thanks to Adam Bornn for interviewing Ian Andexser on Frozen UK Pensions in Canada. I will have a frozen pension in my future. Hopefully others see this content and take measures to help their future selves today.
Based on information shared in issue #2, 2024 of the Justice magazine, published by the Canadian Alliance of British Pensioners (CABP):
Visiting a country where the UK State Pension isn’t frozen?
When traveling to a country in which the residents do receive the increases (a non-frozen country), you have what the DWP calls a 28-day “golden window” to contact them to unfreeze your pension for the duration of your visit. The critical date is the day you arrive in a non-frozen country. You have 28 days before you arrive, and 28 days after you arrive, to advise the DWP of the dates and the country/countries that you are visiting. Your pension will be uprated to the current rate for the duration of your visit.
It is really hard to easily find this all out on the UK government websites. I hear that Canada to the US is the exception for uprating.
What a great guy!
150 countries are affected and yes they do mention this and 550K and including the ever-forgotten British ex-pats in Thailand and Indonesia just 2 and never ever forget we do not use the NHS and other huge free benefits.🥵🥵🥵🥵🥵🥵
Currently the UK government is allowing top ups of NI including all years back to 2006. The deadline to apply is April 5, 2025. After that you'll only be able to top up for the preceding 6 years. My husband and I are both Canadian and have worked in both the UK and Canada and are moving back to Canada to retire early in 2025. We've topped up our NI the maximum we are allowed and we've deferred our pensions to 70 to offset some of the loss . It is a ridiculous policy.
well done for bringing attention to this issue.
The Nova Scotia retired teacher's pension does not receive a yearly cost of living increase. The present teachers in Nova Scotia are not aware of this and how it will effect their future retirement .
University of manitoba too..its optional and they have NEVER done it
Anyone who works in the provincial government in NS is also in the same boat. I tell my co-workers about our non-indexing pensions all the time because they do not have a clue how it will affect them.
You can top up UK National Insurance contributions but there is a limited number of years you can back date. So don't delay if you are thinking about this.
I calculated that it would take about 4 years of pension payments to recoup the cost. Hope to live that long!!!!!!
There is a window of opportunity to buy back(top up) missing years. Normally 6 years but you can top up back to 2007. The deadline is April of 2025. Then it all reverts back to 6 years. I feel sorry for anyone that has less than 10 years and will get nothing. Everyone has a different situation but topping up was the correct thing for my husband and myself.
The time that it takes to recuperate one year's contribution depends on whether you're making a Class 2 or a Class 3 NI contribution. The annual amount for 2024/2025 is Class 2: £179.40, and Class 3: £907.40. Each annual contribution will buy you an annual increase of £342.11 (April 6, 2025, estimated). So, if you get approval for paying Class 2 contributions, you recuperate your money in 6.29 months.
@@OptimisticHominid Since early 2024 you can now apply for Class 2 "online". It takes about 6 weeks. You need a Gateway Account to start the process. When we applied for Class 2 in 2020 we had to do it all by hand. We are glad that we did though!
This got me thinking about cost cutting measures around retirement policy that we could see in Canada. Here are things I could see happening:
1. Withdrawals from TFSA will count towards income for OAS and GIS eligibility and clawbacks.
2. No OAS or GIS for people living abroad.
3. OAS clawback starting at $50,000
In recent memory, only the Conservatives have made a negative move on pensions, when they raised the eligibility age for OAS and GIS to age 67. The Liberals brought it back down to 65 when they came to power. Also, the Liberals implemented the increase in CPP benefits (requiring increased contributions, of course).
I think item one makes sense for GIS, but not OAS. Hopefully 2 & 3 never come to pass.
With the current regulations you cannot get GIS if you are living abroad. GIS is only available to Canadian residents.
I agree there is no way UK government will backdate however it’s also too complicated to have a multi tier where eg the man in White Rock gets 2% increase on his current pension amount.
The fairest would be pay all UK pensioners the current rate regardless of country of residence. This will affect me personally soon too. I have a relative who has not had increase for 30 years and has been fighting this and rightly points out how much this indirectly costs the Canadian government as well but they don’t seem to want to rock the boat with Britain
You mention that you will be affected soon....if so...have you weighed topping up your National Insurance Contributions? This golden opportunity to buy back up to 18 years all comes to an end in April of 2025.
@ yes paid in April to buy back missing years while I’ve been in Canada. Still waiting for HMRC to actually update my details they aren’t exactly fast.
this is crazy, so australia and canada are being penalized. but the state brit pensioners are indexed. shameful laws
For every 10 Overseas UK State Pensioners, 6 will get an annual increase but 4 will not…yet all contributed the same way.
Take them to the European court
Interesting, and this affects friends of mine, so thank you for this video. Does this issue exist issue for those of us who lived in the US and paid into Social Security?
No
Please send your friends the video.
Can u move back for a short period of time to reset the amount?
I am a UK citizen,retired,and living in CANADA .
Please send me further info regarding the above..very intetesting video.
Search on-line for the Canadian Alliance Of British Pensioners and go to their website. For detailed information you'll need to join their organization but it's not expensive and they have a wealth of information.
The web site for the Canadian Alliance of British Pensioners is mentioned in the information part of this video.
Listening carefully.
So r the Americans. I'm usa born and I get the same equation as I get my cpp in canada
Why aren’t they suing for discrimination?
No death benefit either in uk if u die b4 you start. Canada does give the estate a small payment.
Such is life. 😮 My dad got a small German pension and immediately he lost money from Canada 🇨🇦. Greedy greedy people while Canadians are in poverty.
My FIL never even filed for his British pension :-/
Show him the video and see about taking next steps.
I guess if a Canadian retires to the UK they'll be in the same position?
Not so. The UK is the only country out of the 38 OECD member countries that freezes pensions in some countries. UK State Pensioners, collecting a pension, in US or the Philippines, not frozen....but Canada and Australia are frozen.
@blueice999uk Good grief. So Canada doesn't care there's no reprocal agreement and indexes its pensions regardless?
@@samanthathompson9812 I think Canada figures you paid into a pension with the promise that the benefits (including indexing) will be paid when the time comes to collect and that's what you get. Those benefits were bought and paid for by you and your employer, the CPP isn't a government funded program, and it's totally wrong you wouldn't get the pension as promised that YOU paid for. The UK government seems to have a different perspective.
Hello 👋 parallel wealth, any idea why? the Government of Canada 🇨🇦 is stealing my pension funds from my CCP?, I am currently living in the Philippines now because I cannot afford to live in Canada, thank you for the update 🇵🇭
Lots of money for overseas tho
Hello,Adam what you think of Canadian CCP. Is Canada in the same situation on pension.🙏🏾
It is my understanding that the UK is the only member of the 38 OECD countries that freezes pensions.
Much different and better situation.
I am one of those people
Me too.