sooz&abby

HI guys,

Can anyone tell me what form you use to keep paying National Insurance contributions? We are leaving in 3.5 weeks time but want to keep paying it once we move.

Thanks
Susan

BettyBoop

Hi Susan,

I picked up a booklet in my tax office yesterday titled 'Paying tax and national insurance contributions electronically'....IR2010.
Hope this is of help.

CreditCardKing

The National Insurance Dept for the whole of the UK is in Newcastle, it may be just around the corner from you. You should ask them for a pension Forcast to see if its worth your while paying extra contributions. I am 3 years behind but I only need to make this payment by 2010 to still qualify for a full pension.

sooz&abby

thats a great help - thankyou!!

Stitch

Hi,

Sorry for being daft but if you continue to pay NI contributions does this mean that you keep topping up pension entitlements?

Cheers

Country Boy

Yes it does.

When I was working abroad, I paid for class 3 voluntary stamps by DD. They only cost £8/mth. I know some have harked on about the state pension not being worth very much in 20/30 yrs time, if indeed there will be such a thing, but for £8/mth I thought it wasn't going to burn a hole in the pocket.

GinaUK

Yes, that's exactly what it means. However, there are a few things to bear in mind:
1. To get the full basic state pension, you need to have paid NI contributions (or have NI credits) for 40 years. If you haven't got 40 years worth of contributions/credits, you get a reduced state pension.
2. The basic state pension isn't much. At the moment it's about £80 per week.
3. By the time you retire, the government of the day may have decided to abolish the state pension - in which case you would get nothing.

Upshot: you may be better off putting the money in a savings account.

Gina

JAJ

And UK state pensions are not indexed if you live in a number of countries, including Australia and NZ.


Jeremy