I finally found the answer.

As most people know the UK government is proposing to reduce the number of qualifying years for a full pension to 30 years as from 1st April 2010.

BUT these changes will not effect those who reach retirement age (65 for men 60 for women at that date) before the 1st April 2010. So if you are on a reduced pension due to lack of contributions the new chages will not help you at all.

This is a warning for those within a couple of years of retirement who want to pay voluntary contributions to bring their pension entitlement up to 100%.

Careful mate - This is irrelevant if you retire outside of the E.U. Essentially the UK defaults on its insurance program. Yes they pay the pension but it does not increase (over your entire lifetime), there have been European Court of Human Rights cases on this subject. Research the BBC web site to cross check.

Careful mate - This is irrelevant if you retire outside of the E.U. Essentially the UK defaults on its insurance program. Yes they pay the pension but it does not increase (over your entire lifetime), there have been European Court of Human Rights cases on this subject. Research the BBC web site to cross check.

well it can be relevant if you are outside EU and have not retired yet and are paying voluntary contributions which I was until last year. UK authorities actually wrote to me about the proposed change and said I should stop paying contributions in light of the proposed change and they sent me a cheque with refund (quite amazing).

Careful mate - This is irrelevant if you retire outside of the E.U. Essentially the UK defaults on its insurance program. Yes they pay the pension but it does not increase (over your entire lifetime), there have been European Court of Human Rights cases on this subject. Research the BBC web site to cross check.

well it can be relevant if you are outside EU and have not retired yet and are paying voluntary contributions which I was until last year. UK authorities actually wrote to me about the proposed change and said I should stop paying contributions in light of the proposed change and they sent me a cheque with refund (quite amazing).

Thanks for the tip off, I am early retired, have 31 paid up years and was just about to start paying voluntary contributions - another 13 years before I am 65 so will be holding fire (we get 5 years grace anyway when contributions are credited - although you may need to be a UK resident to qualify)

never did get my mind around the freezing of the pension if you leave UK (certain countries excepted of course)

R

I can't seem to disentangle a consensus out of this thread so far. In the light of the coming rules is a person nearing 65 well advized to pay or to not pay voluntary contributions?

Be afraid, be VERY afraid !!!!!

This present UK government has spent the last 10 years telling everyone that they should be saving more for their pensions, and, indeed telling all and sundry that the pension system is heading for a crisis..... unsustainable blah blah blah etc, etc

NOW, all of a sudden, they are saying you will not need to contribute after your mid forties to get a full pension??????

Can anyone else see something wrong with this picture?

I am wondering what the governments idea of a "full pension" will be for those who will be allowed to "only pay into the system for 30 years" instead of the (as of now) 44

I smell tuna !!!!!!

Penkoprod

I have asked about this last week, as at the moment i am self employed, the Government have told me i have to pay into the system for 44 years ?, i have been self employed since the age of 18, 25 years, when i do move to LOS i can still pay voluntary contributions at 7.20 per week, then get a full pension.

But the way the UK is going, will there be any money left in the pot. who knows.

I can't seem to disentangle a consensus out of this thread so far. In the light of the coming rules is a person nearing 65 well advised to pay or to not pay voluntary contributions?

Whether to make voluntary contributions or not it is very open to your feelings.

Some people think the UK pension is the best thing since sliced bread, other that it stinks.

If you are working in the UK you have no option but to pay, every year you work not just 30 years. But if not working in the UK you can pay the voluntary contributions, currently a bit under £400 a year. Put that into a private pension scheme or a saving account and it will not pay the current over £4,000 a year pension (£6,500 for a married couple). And from 2012 it will increase by the rate of increase in wages in the UK, not inflation as is the current case.

The big fly in the ointment is the fact that if you live in LOS - or are out of the UK for over 6 months and not in the EU or a couple of other countries then the pension is frozen at the rate you were getting when you left (or if out of the UK when you start your pension the rate at pension age).

Personally I think it is good value for money and many people pretend to be in the UK by just getting all their DHS mailing to a UK address.

Careful mate - This is irrelevant if you retire outside of the E.U. Essentially the UK defaults on its insurance program. Yes they pay the pension but it does not increase (over your entire lifetime), there have been European Court of Human Rights cases on this subject. Research the BBC web site to cross check.

This is only partly correct. In some countries outside of EU you can get increases, but which ones I am not sure. Unfortunately Thailand is not one of them.

A test case is going to European Court, possibly later this year, to challenge this. It is being taken up by a woman fromCanada. A similar case was thrown out by British courts some time ago and this is the next step. It is still not resolved, but watch this space and live in hopes.

I am 42 and have only made less than 10 years contributions towards my state pension.

I have a private pension that will only allow to make contributions ,if the money I earn is within the UK.

I dont live in UK and think its crap anyway.Now.

So I have a pension there that is frozen.

What a load of bol##cks.

I say stuff the dodgey gits that try to be your allai and pretend that you will inherit the earth on your retirement( which ,,for example is already knocking on 70 years of age in Germany)and make the most of your dosh before some one else does.

I,ve worked out that unless I go back to the land of grey and pay (just for the crack),I will be able to buy Chang beer at 3 bottles for 100 bhat (evey other day),,,for probably around eight years.

For a pension that I,m not allowed to cash in.

So in 30 years I,ll be (inflation prediction)able to have a bottle of Chang once a week ,,,if I,m allowed to stay in Thailand.

No thanks.

Better things to do with money