Which Magazine has a very good retirement information booklet & website, click here.
We have a large amount of very useful information, broken down in the following categories:
On This Page:
1) Pension Payslips
Pension payslips other than the P60 in April are available on the Chevron UK Pension website, www.chevronukpension.co.uk You will only receive a payslip if you write to Barnett Waddingham requesting it and then only if it differs by over a £1 from the previous amount.
2) Plan Administrator for IRAP-DB and Predecessor Pension Plans, N.B. NOT UK Plans.
The plan administrator is Buck Consultants, Toronto, Canada, but you MUST also contact directly the organisation which pays your pension if you which to change / query any details of the payment. Please see the attached letter.
Chevron US IRAP-DB Outsourcing Pensions
Chevron Revised Overseas Pension contacts
3) Thinking of retiring abroad?.
If you are thinking of retiring abroad you should consider what will happen to your state pension after the government won a European & previous UK court battles giving them the green light to withhold annual increases to state pensions paid to overseas expats, denying them the up-rating available to UK citizens. Remember the state pension is part of your pension.
Half a million UK pensioners living in 150 countries, including Canada and Australia, are paid a state pension because they contributed to National Insurance in this country during their working lives. But they receive no annual increases.
This means, for example, that a pensioner who paid UK National Insurance contributions throughout their working life but moved to Australia in retirement and took a pension from 1995 still only gets £59.20 per week, compared with the current basic state pension allowance of £95.25 per week.
These rules do not apply to those retired within the EU, in countries such as France and Spain, where the annual increases are paid and, surprisingly, the US.
Anyone planning on emigrating should give careful consideration to where they choose to go and how this will affect their financial position.