scampie

does anybody know how we sort our, private pensions? natinal insurance , do we need to contribute from australia to uk to receive state pension at 65? life insurance can we take that with us? and tax do we just let tax office know? any help appreciated thanks

ossigeno

I am sure if you search the forums you will find these questions asked many times before.

You need 30 years contributions to get the full UK state pension, time spent in full-time education (and prison I believe) is counted as paid years. Continuing to pay national insurance is up to you. If you have less than 30 years contributions you get a pro-rata amount.

First you complete form CA3638 for a forecast of your current standing.

Once you have got a reply you complete form NI38 if you want to back pay/continue voluntary payments. You can go back 6 years to make up unpaid years. If you were employed immediately before you left the UK you can pay Class 2 voluntary contributions, otherwise you pay class 3. Class 2 costs about GBP2.05 per week, Class 3 about GBP 7.35.

Overseas NI department of the Department of Work & Pensions phone number: +44 191 2257917.

Prior to leaving you should complete a P85 Notice of Leaving the UK and send recorded delivery. Even with this done the IR will likely still keep sending you tax returns to complete each year so having the recorded delivery helps against their penalties for not completing a tax return.

Forms:
CA3638 >> Application for a State Pension forecast
NI38 >> Social Security abroad
P85 >> Leaving the United Kingdom


Life Insurance you will have to read your own policies.

Private pensions I can't give you advice. You don't need to make a decision on these immediately. Personally I would get to Australia first and decide if you are committed to staying. There are a heap of companies wanting to help people move their pensions to Australia and take a large slice of the cake in the process.