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Rajab Al Zarahni

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About Rajab Al Zarahni

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  • Birthday December 1

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  1. Rajab Al Zarahni

    UK pensions

    If you regularly scan the media for interesting pension news items you will know that it has been suggested. The idea doesn't seem to have much popular support. The last time I read a news item about it the idea was to give everyone the currently frozen increases but take away the personal allowance. Another suggestion which is occasionally mentioned is to make OAP's pay NI contributions. Personally I don't see either idea becoming a party manifesto pledge as it would upset too many people.
  2. Rajab Al Zarahni

    UK pensions

    Yes it's under the old system and as at 2018 and comprises £125.95 Basic State Pension and £172.28 Additional pension( SERPS, SP2, Graduated Pension ).
  3. Rajab Al Zarahni

    UK pensions

    Just for information. Having looked further into this it appears that potentially someone with a full basic pension who had contributed the maximum SERPS contributions would get a pension of £15507.96/year ( £298.23 weekly).
  4. Rajab Al Zarahni

    UK pensions

    That must be new state pension. The figure could be much higher under the old system which would include basic pension, SERPS, SP2, and Graduated Pension. Furthermore, the figure will also be higher for those who have deferred and elected to take income rather than a lump sum.
  5. Rajab Al Zarahni

    UK pensions

    Paying tax on private pensions is relevant because the tax code would be increased to reflect the additional income from the state pension.
  6. Rajab Al Zarahni

    UK pensions

    What about those who made the maximum contribution to SERPS and contributed for a lifetime of work up to retirement. They would certainly get a pension beyond the personal allowance of £11800 ?
  7. Rajab Al Zarahni

    UK pensions

    I don't have any figures but those paying tax on pension income will generally be those with both state pension and private pension income. Any income liability would be taken from the private pension at source.
  8. Rajab Al Zarahni

    UK pensions

    The UK government have mired this issue in a number of clever obfuscations. The need to have a Social Security Agreement is just one of them. They no longer use this excuse as everyone knows its rubbish. The latest defence is the one about expats not contributing to the tax burden. This also falls apart as an argument with many expats paying income tax on their pensions at source and pensioners in, for example the Philippines, getting the increase that are denied to those in Thailand. Consider for a moment why the treatment of the Windrush generation has raised holy hell in Parliament. Diane Abbott and David Lammy have threatened hell, death and public hangings for the heinous crime of racism about the unjust way they have been treated. Their unique characteristic however is that they are black. If they were indigenous, white, Anglo-Saxon and protestant they would just be told "tough luck, stop making a fuss about nothing" !
  9. Rajab Al Zarahni

    UK pensions

    There is no logic. Its just an excuse to throw you of the scent. Think about it, why can't the UK pay what it wants to whoever it wants ? Is the Thai government going to break off diplomatic relations and declare war because the UK has paid increases to its pensioners ? The fact of a treaty is not a requirement, its just a device to get people thinking that there is a logical reason why it can't be done.
  10. Rajab Al Zarahni

    UK pensions

    More intriguing to me is the process of reasoning that brought about the freezing of pensions in the first place. I have learned through experience never to underestimate the huge numbers of people who are motivated by envy and jealousy. The perception of expats living in Thailand by many in the corridors of power is of retired men with no responsibilities living cheaply but contentedly in a palm tree paradise with a beautiful supermodel girlfriend. Remember that many people who administer the law go to work in the cold and the rain on a congested underground a travel two hours a day just to come and go from the daily grind.
  11. Rajab Al Zarahni

    UK pensions

    The campaign to unfreeze pensions will certainly not be won through legal challenge, however, raising a claim against the government is a symbolic action which will attract publicity for the political campaign. Slavery was lawful in the UK until 1834. It wasn't the government who were unhappy with it. It took a protracted and determined political campaign to change the law.
  12. Rajab Al Zarahni

    UK pensions

    I am completely lost in trying to understand the substance of your point ? Please explain.
  13. Rajab Al Zarahni

    UK pensions

    The great thing about being a pessimist is that you will never be disappointed.
  14. Rajab Al Zarahni

    UK pensions

    Technically, I believe you are right as at today . From my understanding the NIF did originally have gilt holdings then in 1981, HM Treasury arranged to create "NILO" stocks specifically to meet CRND's investment needs when there was no other way to do so. HM Treasury issues non-marketable NILO (named after the former National Investment and Loans Office) stocks on the same terms and conditions as the marketable parent gilt issue(s) to which they relate. All transactions in NILO stocks were dealt with on the basis of the current market price of the parent gilts. NILO stock that were no longer required by CRND were purchased and cancelled by the Treasury. In January 2007 the NIF sold off all its gilt holdings, presumably as NILO stocks and created the debt Management Account Deposit Facility. It still has an investment account facility and still receives modest increases but I can find no information on investments. I think the probability is that the government top it up at the level of bank base rate.
  15. Rajab Al Zarahni

    UK pensions

    There are a number of other things that have been put forward including the disturbing suggestion of levying NI contributions on people over pension age. II think it was David Cameron who promised us " a bonfire of the QUANGO'S" This in fact never happened but it is clear that the economy of the country is sinking under the weight of its own administration. This would be my starting point. Every year we have initiatives to streamline services or make them more efficient but rarely ,if ever, do we here of a service being abolished. Why for example do we meed ACAS when we have had no significant industrial disputes warranting its intervention for at least 20 years ? If people are living longer and we need to spend more money on pensions, that we don't have, then stop spending the money on promoting ballet dancing initiatives in Ethiopia !
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