UK Pensions - Is it worth catching up on NI Contributions before April 2016

[keithsimmonds]

On 7/10/2019 at 4:10 AM, keithsimmonds said:

Hmrc online forecast is just a guide so i found out last week. I have 43 years of full contributions and 3 years that are not full and 4 more years where "i could" make further contributions. My forcast is for 162.01 per week as it stands,but i was told by HMRC (when phoning from LOS)that, that figure was not what she was looking at on her screen and that i should get a pension forecast from the DWP to get the exact figure,(she would not say what was on her screen,only that the forecast was higher than the 162.01 figure that i was seeing),I am in the process of doing exactly that.

Luckily for me i will be in the UK in 2 weeks time to hopefully get the up to date forecast then settle (if i can) any short full years if needed.

I did not get my pension forecast letter when i arrived in the Uk so i phoned up the Dwp,and a very helpful woman (imo) told me that Hmrc are incorrect in what they said and that my forecast letter that was on its way to me,and says exactly as it does on the Gateway Sign in website...... 162.01.

She also stated that i could not make up payments for the 3 years that were not classed as full years as they were before 2016 when the "new pension" came into force so those extra payments would have no effect on my final pension, though she said Hmrc would probably not tell you that......Nice!!!

So 2 more years of NI contributions out of a possible 4 years to get my Full state pension....although 2 more years will actually take me over the max possible payment,but i still wont get any more than stated........such is life

[sunnyboy2018]

On 6/18/2019 at 2:36 PM, sandrabbit said:

don't bother catching up, you don't know what will happen in the future as it's the worst pension in the western world. I was advised by an accountant not to bother as you will be pro rata in terms of payments. think about where did your earnings related go?

You are wrong. Even at full payment rate you still get back about 7000 pounds per year. If you pay expat class two contributions of 130 a year you can see this makes sense. Although 7000 quid is not enough to live off it tops up your other income streams.