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
 

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.

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

Re: UK State Pension
 

I don't know, I'll leave that to the more financially savvy members.........come in ABC....... :D

Re: UK State Pension
 

http://www.direct.gov.uk/en/BritonsL...road/index.htm

Re: UK State Pension
 

Excellent! Thank you very much for that :thumbsup:

Re: UK State Pension
 

You need tio start by filling out form N138

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

Re: UK State Pension
 

They've changed the rules quite a bit in recent years (last 5). With the state pension the minimum years for contribution has dropped from 11* to 1. So you're probably entitled to something now. You can get a forecast to check. Other key points about these changes are that you now only need 30 years of contribution to get a full pension and the age that you receive the pension is being raised (gradually but eventually it'll be 70 for everyone). To give you a guide I'm 43 this year and I won't get my pension until I'm 66. My wife is 40 this year and won't get her pension until she's 67.

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
 

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
 

I think six months worth of pension payments will get you about fourpence a quarter !

Re: UK State Pension
 

/www.thepensionservice.gov.uk/state-pension/basic/faqs.asp
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
 

I think its frozen at the level it is when you claim it.