The UK, P60 Year Form ( it is important if still working or pay tax on a private pension

[Jack Peterson]

 Guys and gals, I can only talk about the UK but I would hazard a guess that all countries have a similar system so this may be if use to you too.

Ok, so a very Good friend of mine has just retired in the UK and to his horror he wrote me that DWP have only Granted him an 80% Pension. As I was under the weather I did not read the mail to any great depth but last night I did, it would appear that he was made redundant 3 out of 4 Jobs in his Life, none of the companies offered private pensions ( As is the way sometimes in the UK) All was fine he was told until 6 years ago when his last Employer went Broke and the DWP have since discovered had never paid in any NI (SS) payments to the DHSS so he was 6 years short, Now this Happens but there is a way that it can be caught early and this is what I am starting this Topic about. Every Year we get a Form called a P60 Copy at the head of the page. This tells us What we have Earned How much tax and NI we have paid. Any problem and we should contact the DHSS to make inquires, many people Just Bin the Form or don't Bother to read it. He tells me that he never got a Form ever from his last Employer, This would have rung bells as it is mandatory for the Company to supply one each year. Many many Times I have heard this but of course it is too late, The money has been deducted from your Salary but never got to the DHSS and The DWP work on this for accessing your pension.

 Just Lately it seems we are getting some new members who are waiting for a pension so they can Move over here but have some years left to work, That's OK if you are sure you have enough in to draw. My Friend Thought he had the 35 years in and now finds he has only 29 so his pension is reduced. I urge all to Use the Government Forms you are given each year to check all is in order, if Not. Do some shouting.

Lets face it, you have had the Money Stolen twice, once by dishonest Companies and then the Government take some as well.

Sorry if this is Long Winded but being on Top of things as soon as you can will protect what you have worked so long and Hard For.

 

 Thanks for Reading My friends, lets all be one step ahead

 BTW, he has been told that they can not trace the Directors of this Company as they Were Foreigners so unless they recover the cash his Pension will remain Reduced.