Uk Ni Contributions

[DUMPSTER]

Following on from another post about pensions, I was trying to find out, without success, about what one should do if they have not paid NI contributions. I have not paid since I have been in Thailand, whhich is 4 years now and although I have 25 years to go before I can claim any pension I was wondering if anybody knew what one should do in these circumstances. It's difficult to look so far ahead but the 4 years have flown by.

Thanks in advance for your help

[briley]

UK NI contributions is a slightly complex set of regulations, but you can get a quote and information from them, their website is http://www.thepensionservice.gov.uk/

If you are in the UK, or have someone who can send on mail then you can register online and get a quote, but they insist on sending you a registration number to a UK only address. Otherwise you write to Newcastle.

As a simple start though you can miss 4 or 5 years contributions in a lifetime of work and still get 100% pension.

You can pay up to 6 years in arrears, but only 2 years at that years price. Pay for years 2-6 ago and you pay todays rate of contributions.

Contributions is around £320pa currently

[DUMPSTER]

thanks for the great info

[GuestHouse]

The regulations are currently under review, the suggestion is that pensions will be based on 25 years of full payment and residence in the UK. The reason for the review is because women who chose when they were younger to pay reduced NI Contributions (Married Women's Contributions) are now complaining that they are not getting full pensions.

Meanwhile the outragous denial of pension increases for pensioners living overseas in all but a few countries remains.

[Maejo Man]

So not having having lived in England for 30 years means I won't get a pension?

[briley]

The UK discussion on pension reform seems to be varying from allowing all residents of at least 10 years to have a full pension to making everyone have to work till they're 90 and all stations in between - makes planning over a 25 year period impossible. My feeling is that make sure one gets at least a minimum pension as it gives you a foot in the door of the UK social security system.

And the denial of pension increases is the most unfair rule I have ever seen. It is the one time I recomend lying to the authorities as to where you live to get the full benefit you have paid for.

[briley]

Moejo - it depends on your contribution record, but you must pay for 25% of your working life (44years for a man so 11 years of contributions) to get 25% (the minimum) state pension.

[Maejo Man]

Moejo - it depends on your contribution record, but you must pay for 25% of your working life (44years for a man so 11 years of contributions) to get 25% (the minimum) state pension.

Probably won't make the grade, as from memory, I only put in about nine or ten years worth of toil. Thanks for the info..

[GuestHouse]

While I pay NI Contributions, even when overseas, I have no real expectation that the UK State Pension will be worth anything by the time I get to claim (Remember this is now moving to age 68).

I honestly believe that the State Pension will be allowed to devalue (by means of below real inflation increases) while means tested add ons to the pension are increased.

This reduces overall costs of pensions to the exchequer, while providing for people who have no savings or wealth of their own.

I certainly do not see an overstreached welfare system continuing to provide welfare to people who may have hundreds of thousands of pounds tied up in property and perhaps private pensions too.

So my plans are to provide for myself, and if I get a state pension on top I'll be very pleased, but I'm not holding my breath for it.

I also fully expect the UK government to move the goal posts on when we can collect our private pensions, the basis of this being that they need to keep those of us who are working at the grind stone. Millions on welfare depend on us. Allowing us to retire early and drop out of contributing to the exchequer makes poor ecconomic sense when you've a welfare industry to support.

Glum views I know, but I can't see good arguments why I'm wrong on this.

[cmsally]

While I pay NI Contributions, even when overseas, I have no real expectation that the UK State Pension will be worth anything by the time I get to claim

I am inclined to agree. I take the attitude, that I expect to receive nothing and if I do that's a bonus.

Seeing as I am looking at having to pay international fees if my children want to go to Uk university (just because we haven't been resident in UK for last 3 yrs), I wouldn't put anything past this government. Fact that we hold UK passports, have a house in UK and pay taxes seems to mean nothing to them.

So I certainly wouldn't depend on any government to support me in my old age. I'll make sure I have enough to take care of myself.

[briley]

I also don't disagree with the pessamistic view but as of interest both Conservatives and Liberals talk about increasing the basic state pension to take most pensioners out of the means tested benefits as it would be cheaper. That would put the married persons pension up from about £130 per week to around £150 per week.

Now that is GBP7,800 per year, not too bad for an investment of about GBP320 a year, especially if some of the years have already been paid.

Converts to 44,000 baht per month by my maths even at 68 baht to the pound. I can live on that ..........................