What British immigrants need to know about the pension system

# UK Immigrants # Introduction Pension, also known as pension, is a major social pension insurance treatment, which aims to ensure that everyone has enough income to pay for their retirement. The following is what British immigrants need to know about the pension system. Welcome to read!

1. What British immigrants need to know about the pension system

1. Enterprise annuity Simply put, deduct some money from your salary and deposit it in your pension account. At the same time, your employer also needs to deposit the corresponding money into your account. You can withdraw the occupational annuity after retirement. The money in the enterprise annuity has always existed in the name of an individual, so the account of the enterprise annuity is like an individual bank account, bearing all the love of the company and the government.

Only when you reach a certain age (generally 60-65 years old, 55 years old at the earliest) can you withdraw money from it. Although it can't be withdrawn now, the funds in the enterprise annuity account can be invested and managed, and all the investment income after retirement belongs to individuals. It is not the government that helps you manage your pension investment, but the pension fund company. Pension funds have a greater advantage, which is tax exemption and double tax exemption. The income deposited in the pension account is tax-free, but it needs to be taxed when it is withdrawn, but 25% of it is tax-free, and the remaining 75% must pay personal income tax. Your pension fund company invests this money, and most of the income you get from it is tax-free.

2. State pension

After retirement, if you meet certain conditions, you will receive a national pension subsidized by the British government. The British government carried out a drastic and comprehensive reform of the "national pension" system. Applicable to citizens who meet the national pension application standards after this date. For those who began to receive state pensions before this date, they still enjoy the old policy.

Applicants must have a national insurance record of at least ten years to obtain a national pension. This ten-year NI record doesn't need ten consecutive years. After 10 years, the remaining state pension will be increased by 4.55 pounds every year. Over 35 years old, you can get a higher pension every week 159.55 to take care of your life.

2. Living expenses of British immigrants

Although London can be said to be the preferred destination for foreigners arriving in Britain, the cost of living in the capital is significantly higher than that in other parts of the country. The cost of living in the south is usually higher than that in the north, but wages also reflect this. House prices in London are still high, which means that moving into a smoggy day usually requires a bigger budget.

1, the cost of living in London is 4% cheaper than that in new york; 66% more expensive than Madrid; 58% more expensive than Brussels; 21%more expensive than Paris; More expensive than Los Angeles 12%.

2. The cost of living in Manchester is 38% cheaper than that in new york; 7% more expensive than Madrid; For example, Brussels; 22% cheaper than Paris; 28% cheaper than Los Angeles.

3. The cost of living in Birmingham is 40% cheaper than that in new york; 5% more expensive than Madrid; For example, Brussels; 29% cheaper than Los Angeles.

4. The cost of living in Edinburgh is 36% cheaper than that in new york; 165438+ 0% more expensive than Madrid; 6% more expensive than Brussels; 25% cheaper than Los Angeles.

After years of unprecedented growth, the British housing market has begun to slow down-especially in the more expensive markets, the price increase has stagnated. As Britain continues to negotiate its exit from the EU, the level of transactions has also slowed down. Nevertheless, it seems unlikely that prices will plummet, because the shortage of housing means that house prices and rental costs may remain stable. There is no doubt that London is the most expensive place to live in Britain.

If you plan to rent a house in London, the monthly rent for one bedroom may be between 1, 200 and 1, 600. Singles who are willing to share can greatly reduce the rent. It is estimated that a single room will cost 500 to 750 pounds. Utilities are usually extra. Elsewhere in England, the house price in the south is about 300,000-500,000 pounds, and the house price in the middle and further north is about 200,000-400,000 pounds.

3. Four reasons for emigrating to Britain

1. Popular countries for studying abroad

British education is famous for its high quality and strict requirements. Britain ranks fourth among the top ten universities in the world. Good educational environment, abundant teachers and open educational model attract domestic students to study in the UK.

2. Universal free medical care system

"Universal medical care" has always been one of the most concerned topics in all countries. How "universal medical care" matures and operates successfully represents a country's comprehensive soft power. Britain is one of the few countries in the world that implement free medical services for all. Its national medical service NHS is a publicly funded medical service in the world. As long as you become a British resident, you are entitled to free universal medical service. In today's high domestic medical expenses, this is a welfare that China people can't reach.

The transportation in Britain is very convenient.

"Public transport" is also one of the most important factors for a country's development. Britain has a very mature public transport system. Planes, trains, subways, long-distance buses, buses, taxis and other means of transportation are all over the country, and they can reach their destinations quickly and safely. Among them, London has also been selected as a global taxi service city. London taxi drivers are still rated as the friendliest drivers. They have rich knowledge of the area, are skilled in driving and feel comfortable and safe. The car is also very clean.

4. Food City

Although "British cuisine" is often a frequent visitor on the bad food list, people who have never lived here may not know that London is actually an international food capital. One quarter of the top 50 quality restaurants in the world recently published by Restaurant magazine are British brands. Immigration has also made British restaurants and food more international. Few cities offer comprehensive and exquisite food choices like London.

London is known as a world tourist city, with the titles of fashion capital of the world, the world shopping capital, the world breakfast capital and the world luxury villa capital. During my stay in England, I can feel the rich cultural heritage of this country. No country can combine history with modernity, protection with innovation like Britain.