UK State Pension
Looking for some help regarding the UK state pension.
I moved over to Australia 3 years ago and i have been told that if we continue to pay into our UK state pension and catch up with the payments that we missed over the last three years, we can then still claim the pension in the future. Please could anyone recommend a web site or contact details where we can start the process of catching up with the payments. I am sure that there are forms to fill out but we cant seem to find any on the web Thanks for reading and helping out Rob:) |
Re: UK State Pension
Originally Posted by Rob Morton-Jone
(Post 7517547)
Looking for some help regarding the UK state pension.
I moved over to Australia 3 years ago and i have been told that if we continue to pay into our UK state pension and catch up with the payments that we missed over the last three years, we can then still claim the pension in the future. Please could anyone recommend a web site or contact details where we can start the process of catching up with the payments. I am sure that there are forms to fill out but we cant seem to find any on the web Thanks for reading and helping out Rob:) |
Re: UK State Pension
I've got around 6months... maybe 8 or 9 months worth of payments to get to the UK's minimum state pension level.
Should I do that and if so why ? Hopefully someone knows I've also got a private pension (annunity) over there with the "Willis" group.... I aim to use that solely in the UK for any future holidays I may take, as it's quite small..... is that a good idea ? I reckon it's enough to pay for one 7 week holiday per year, including fare... circa 4/5,000 quid. Or is there a reason I should cash that in also ? |
Re: UK State Pension
Thats good to know but who do i contact in the UK to inform them of my new contact details?
Is there a web site where i can get the information? Rob
Originally Posted by Pollyana
(Post 7517554)
You can still claim the pension even if you haven't paid into it since you left the UK. Its just frozen at the level it was at on leaving.
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Re: UK State Pension
Originally Posted by Rob Morton-Jone
(Post 7517628)
Thats good to know but who do i contact in the UK to inform them of my new contact details?
Is there a web site where i can get the information? Rob |
Re: UK State Pension
Originally Posted by Rob Morton-Jone
(Post 7517628)
Thats good to know but who do i contact in the UK to inform them of my new contact details?
Is there a web site where i can get the information? Rob http://www.direct.gov.uk/en/BritonsL...road/index.htm |
Re: UK State Pension
Excellent! Thank you very much for that :thumbsup:
Originally Posted by brisbanebob
(Post 7517645)
|
Re: UK State Pension
Originally Posted by Rob Morton-Jone
(Post 7517771)
Excellent! Thank you very much for that :thumbsup:
Martin |
Re: UK State Pension
I have just started looking at this and the impression I get is that although you may not be entitled to a huge UK state pension it may be worthwhile continuing to make contributions - you don't have to do it continually. The moneys not huge but you can get a good rate of return and are effectively buying an annuity quite cheaply. However, if you are a few years away from retirement - like I am - the query I have is whether it is worthwhile in case a) I die early :( or 2) they change the rules :frown: See http://exfin.com/foreign-state-pensions for an example - they seem to concentrate on Aussie's returning who have been in the UK for a few years, but the issues are exactly the same.
I think its probably worthwhile considering very carefully if you are in your 50's plus .. otherwise I am in two minds at the moment (which means I probably won't do anything!) |
Re: UK State Pension
Hi the address is Retirement Pension Forecasting Team Room TB001 Tyneview Park Whitley Road Newcastle upon Tyne NE98 1BA phone 0845 3000 168 you ask I wish to boost my state pension by buying up back years
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Re: UK State Pension
Originally Posted by ozzieeagle
(Post 7517562)
I've got around 6months... maybe 8 or 9 months worth of payments to get to the UK's minimum state pension level.
Should I do that and if so why ? Hopefully someone knows I've also got a private pension (annunity) over there with the "Willis" group.... I aim to use that solely in the UK for any future holidays I may take, as it's quite small..... is that a good idea ? I reckon it's enough to pay for one 7 week holiday per year, including fare... circa 4/5,000 quid. Or is there a reason I should cash that in also ? With your private pension you're normally only allowed to take 25% as cash** once you reach the age that you can collect it. The rest has to go into an annuity of some sort. * for most people ** this is a government limit. You may be limited by the fund rules as well. |
Re: UK State Pension
Originally Posted by Rob Morton-Jone
(Post 7517547)
Looking for some help regarding the UK state pension.
I moved over to Australia 3 years ago and i have been told that if we continue to pay into our UK state pension and catch up with the payments that we missed over the last three years, we can then still claim the pension in the future. Please could anyone recommend a web site or contact details where we can start the process of catching up with the payments. I am sure that there are forms to fill out but we cant seem to find any on the web Thanks for reading and helping out Rob:) It's worth checking whether you need to make any more contributions (see steven8899 above for a forecast). If you've made 30 years already then you don't need to make any more. Secondly, get yourself into the position where you pay class 2 contributions rather than class 3 contributions. I think the return on class 2 contributions is marginal (compared with putting into a private pension or super) so the more expensive class 3 contributions are not worth it IMHO. :) |
Re: UK State Pension
Originally Posted by ozzieeagle
(Post 7517562)
I've got around 6months... maybe 8 or 9 months worth of payments to get to the UK's minimum state pension level.
Should I do that and if so why ? Hopefully someone knows I've also got a private pension (annunity) over there with the "Willis" group.... I aim to use that solely in the UK for any future holidays I may take, as it's quite small..... is that a good idea ? I reckon it's enough to pay for one 7 week holiday per year, including fare... circa 4/5,000 quid. Or is there a reason I should cash that in also ? |
Re: UK State Pension
Originally Posted by iamthecreaturefromuranus
(Post 7530854)
I think six months worth of pension payments will get you about fourpence a quarter !
http://www.thepensionservice.gov.uk/...s.asp#thirteen There have been quite a few changes just recently and the UK no longer have an agreement with Australia.... stopped in 2001 I think. The site above gives some good information. |
Re: UK State Pension
Originally Posted by Pollyana
(Post 7517554)
You can still claim the pension even if you haven't paid into it since you left the UK. Its just frozen at the level it was at on leaving.
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