Manx State Pension

[Lilly]

8 minutes ago, NoTail said:

Backto the Manx pension. 

As my pension is rapidly approaching I asked for a pension forecast about 6 weeks ago. As I had not heard anything I sent a email to chase it up. The reply came quite quickly that thus takes up to 6 months!

I can't get my head round this. I have paid  NI continuously for 46 years on the island. How on earth can it take 6 months to work out what my pension will be?

I'm glad you have posted this information.   I'm 3 to 4 years off my pension but l will set up a reminder to contact them earlier. 

[Numbnuts]

23 minutes ago, Lilly said:

I'm glad you have posted this information.   I'm 3 to 4 years off my pension but l will set up a reminder to contact them earlier. 

I know people who have done that and been fobbed off as they were told they need to apply nearer the time . Of course it’s only an estimate anyway as investment rates change etc. 

[woolley]

31 minutes ago, NoTail said:

Backto the Manx pension. 

As my pension is rapidly approaching I asked for a pension forecast about 6 weeks ago. As I had not heard anything I sent a email to chase it up. The reply came quite quickly that thus takes up to 6 months!

I can't get my head round this. I have paid  NI continuously for 46 years on the island. How on earth can it take 6 months to work out what my pension will be?

I am flabbergasted having advised employees for many years. UK, yes. IOM absolutely not. You can apply for it 6 months before state pension age, but that's the only way 6 months should come into it. They're usually super efficient here unless things have changed very recently. A dream experience compared to across. Anyway, with 46 years contributions I would imagine you have full entitlement to the new pension and the frozen Manx Supplement. You may have earnings related enhancements in the additional pension too, and a deduction for any periods you were contracted out. I'd ring them.

[Gladys]

The BR19 says they aim to process within 6 months of receipt. 

[Fred the shred]

The rise next year will only be applicable to the basic pension of course not on the basic plus Manx supplement before anyone starts calculating how much you will actually receive.   A lot of people were ringing up Markwell House last year questioning the amount they received.

[Banker]

2 hours ago, Numbnuts said:

I know people who have done that and been fobbed off as they were told they need to apply nearer the time . Of course it’s only an estimate anyway as investment rates change etc. 

investments rates have nothing to do with state pensions it’s a set amount based on years contribution, amount of Manx supplement etc.

if you relocated from uk you can get 2 pensions one here & one in uk & top up years in both jurisdictions so some I know are getting £15/16k or more .

Edited November 25, 2023 by Banker

[NoTail]

In the average bus full of pensioners what are the chances that they will all have a different amount?

[Major Rushen]

2 hours ago, Banker said:

investments rates have nothing to do with state pensions it’s a set amount based on years contribution, amount of Manx supplement etc.

if you relocated from uk you can get 2 pensions one here & one in uk & top up years in both jurisdictions so some I know are getting £15/16k or more .

Lots more. Any years you buy back payback is 3 years plus index linked.

[Expat.]

23 hours ago, John Wright said:

Except it’s between £250 and £600 and it’s not the Christmas Bonus

I said it was the winter fuel allowance, although I should have said winter fuel payment. But you're right, it can be as much as £600 when you include the pensioner cost of living payment. 

[Banker]

10 hours ago, Expat. said:

I said it was the winter fuel allowance, although I should have said winter fuel payment. But you're right, it can be as much as £600 when you include the pensioner cost of living payment. 

But the Iom has the Manx supplement on top although being phased out for new pensioners 

[John Wright]

1 hour ago, Banker said:

But the Iom has the Manx supplement on top although being phased out for new pensioners 

It’s been phased out/non existent for new pensioners since the “new Manx pension” was introduced in 2019.

For pensioners who were in receipt before then it’s reduced annually as the old Manx pension is increased. The aim is to have everyone, eventually, at the same basic level of the new Manx pension and the Manx supplement will then disappear.

[woolley]

2 hours ago, John Wright said:

It’s been phased out/non existent for new pensioners since the “new Manx pension” was introduced in 2019.

For pensioners who were in receipt before then it’s reduced annually as the old Manx pension is increased. The aim is to have everyone, eventually, at the same basic level of the new Manx pension and the Manx supplement will then disappear.

Almost totally incorrect other than it will eventually disappear. Non-existent indicates that new pensioners from 2019 do not receive Manx Supplement. In reality, they do.

It isn't non-existent for new pensioners since the new Manx pension was introduced in 2019, nor is it being reduced annually for anyone. It is being phased out in as much as it is frozen at 2019 levels, so it isn't being increased in line with inflation. The higher inflation in the last 2 years will certainly erode it faster, but it's definitely still worth having, and a lot better than some level annuity payments that people are drawing from miserable occupational pensions. Once you are on it, you keep it at the same level in cash terms for the rest of your life unless you leave the Island.

The amounts payable based on your state pension date are here: https://www.gov.im/media/1364418/manx-pension-supplement-max-rates-from-april-2019-v2.pdf

So if you are retiring now with a full 30 year Manx NI entitlement to the supplement, you will receive £40.98 per week. Annually, £2130, or for a household with a pensioner couple similarly entitled, £4260. That could be the difference between them just about hanging on, and being warm and comfortable in their dotage.

[Andy Onchan]

On 11/25/2023 at 5:23 PM, woolley said:

I am flabbergasted having advised employees for many years. UK, yes. IOM absolutely not. You can apply for it 6 months before state pension age, but that's the only way 6 months should come into it. They're usually super efficient here unless things have changed very recently. A dream experience compared to across. Anyway, with 46 years contributions I would imagine you have full entitlement to the new pension and the frozen Manx Supplement. You may have earnings related enhancements in the additional pension too, and a deduction for any periods you were contracted out. I'd ring them.

I received an answer within 48 hours.

And you're correct Woolley, UK HMRC in particular are dreadful. We have an ongoing MTD admin issue with HMRC/VAT and have been told we will get a answer.... but not before they've dealt with their backlog for March and April 2023!

[NoTail]

1 hour ago, Andy Onchan said:

I received an answer within 48 hours.

And you're correct Woolley, UK HMRC in particular are dreadful. We have an ongoing MTD admin issue with HMRC/VAT and have been told we will get a answer.... but not before they've dealt with their backlog for March and April 2023!

This is the text of the email I received 

"Good afternoon xxxxxxxx

 

The BR19 application does state; we will aim to calculated the completed form within 6 months of the application being received by the Division

 

The Division has have never calculated statement within 4 weeks, we were 16-20 weeks until Martin Lewis did 2 tv programs telling everyone to check to see if they can top up their state pension.

 

On 25/05/2025 the Treasury had to extend the time with the aim to calculate the retuned application within 6 months, due to the volume of applications being received by the Division."

[woolley]

2 hours ago, NoTail said:

This is the text of the email I received 

"Good afternoon xxxxxxxx

 

The BR19 application does state; we will aim to calculated the completed form within 6 months of the application being received by the Division

 

The Division has have never calculated statement within 4 weeks, we were 16-20 weeks until Martin Lewis did 2 tv programs telling everyone to check to see if they can top up their state pension.

 

On 25/05/2025 the Treasury had to extend the time with the aim to calculate the retuned application within 6 months, due to the volume of applications being received by the Division."

Ah. So it's his fault. Did they get a 5 year old to write that text, by the way?

Seriously, I can only imagine that their workload has increased dramatically dealing with "Martin Lewis people" who are panicking for no reason, and perhaps there is no urgency on yours because you are still a reasonably long way from state pension date?

If you are 4 months from spd, which is the first date you can actually apply for your pension it takes 3 to 4 weeks, or thereabouts, to receive a forecast which you can accept or dispute. Errors have been rare in the past from our Pensions team, but they do happen (and they are very, very common from the UK if you are due pension from there too), so it pays to know the system, calculate your own entitlement, and don't take what they say as gospel.