Tony Hutchins

It has been suggested to me to keep paying into the UK State Pension Fund (at a
reduced rate) after emigrating so I can still have a full pension later.Does anybody
have any thoughts on this issue.

Steve@Newsgroups

Contact the DHSS in Newcastle for information on the requirements and entitlements if
you were to continue paying. For me I found it was not worth paying simply because I
had worked for so few years in the UK before emigrating but each situation is
different.

Steve

    >
    >
    >

Sm

Class III stamps, I think it's called. I tried to do it independently (previously the
employer who sent me abroad did it), but they were utterly inept. I send my forms in
twice and no money was EVER taken out of my account over an eight month period. When
I went overseas again with a formal employer, I was asked to cough up the outstanding
amount that they failed to take out of my account.

Like Tony, I'd say check it out. Is it really worth it? If you plan to be in Oz
forever, you're probably better off making voluntary contributions to your super.

Seb

--
***************

    >
    >
worth
    >
    >
    >
    >
    >

[usenetquote2]> > It has been suggested to me to keep paying into the UK State Pension[/usenetquote2]
Fund
[usenetquote2]> > (at a reduced rate) after emigrating so I can still have a full pension[/usenetquote2]
[usenetquote2]> > later.Does anybody have any thoughts on this issue.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >[/usenetquote2]

Alan Collett

I agree with that Seb. Personally, I'm not a believer in Governments generally
providing a decent pension any more, particularly if you are someone who is in your
30s or 40s: it's clearly up to individuals and their employers to make their own
provision for retirement.

I mention here, for what it's worth, that you can (with patience) obtain a pension
forecast from the National Insurance Contributions Office (now part of the Inland
Revenue) by completing the details required at:
http://www.inlandrevenue.gov.uk/nic/intserv/osc.htm

And while we're on the subject of pensions, I'll mention the desirability of
reviewing personal and company pension arrangements preferably before you leave for
Australia if not soon after you arrive. Australia's Foreign Investment Fund rules and
section 27CAA of the ITAA1936 should only be ignored if you're keen on receiving
unexpected tax bills.

Alan Collett [email protected] Registered Migration Agent Number 0102534 and a
Fellow of the Institute of Chartered Accountants in England & Wales Collett & Co
Chartered Accountants W www.collettandco.com Enterprise House, Ocean Village,
Southampton, Hampshire, England, SO14 3XB, T 02380 488786 Also at 5/11 Queens Road,
Melbourne, VIC 3004, Australia, T +61 3 8530 7030, through www.gomatilda.com

Class III stamps, I think it's called. I tried to do it independently (previously the
employer who sent me abroad did it), but they were utterly inept. I send my forms in
twice and no money was EVER taken out of my account over an eight month period. When
I went overseas again with a formal employer, I was asked to cough up the outstanding
amount that they failed to take out of my account.

Like Tony, I'd say check it out. Is it really worth it? If you plan to be in Oz
forever, you're probably better off making voluntary contributions to your super.

Seb

--
***************

    >
    >
worth
    >
    >
    >
    >
    >

[usenetquote2]> > It has been suggested to me to keep paying into the UK State Pension[/usenetquote2]
Fund
[usenetquote2]> > (at a reduced rate) after emigrating so I can still have a full pension[/usenetquote2]
[usenetquote2]> > later.Does anybody have any thoughts on this issue.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >[/usenetquote2]

RobPinnock1

DHSS at Newcastle are very, very slow, eventually they will take your money - but you have to keep pressing them (it took them nearly three years for mine). I've now returned to the UK after some years abroad and I think its probably worth while given how little you actually have to pay. It will give you continuity of contributions should your other pension plans go wrong.

(What you really need to be careful of is returning to the UK at the right/wrong point in a tax year and also to check your residency status, otherwise your tax affairs will rapidly balloon - but you probably already know that)

edweena

Is it possible to TRANSFER a UK Pension to the USA? Like put it into an IRA? My fiance is wondering that himself.

RobPinnock1

Private pension can't be transferred - even if you remain employed by the same multinational company. The value of the UK pension will be remain intact in the UK and you could continue to pay into it via USA to UK transfers, however, be careful over the tax situation. There will likely be no tax relief and, for example, maturing insurance policies that can be used to buy an annuity in the UK are treated differently for tax purposes in the USA. This is a horribly complicated area and advice is usually expensive. There are several companies that can advise but the big ones (E & Y) are top $ and their advice no different to the smaller operators.

Government pensions are not strictly transferable as far as I can make out but the USA has a reciprocal agreement with the UK. see below

Call the DHSS in Newcastle for an explanation on government pensions - they do answer the phone.
These links and tel no's may also help or be able to direct you to someone who can:
http://www.inlandrevenue.gov.uk/cnr/
00 44 292 050 1290 Centre for Non-Residents Helplines

Open Monday to Thursday 8:30 am to 5:00pm and Friday 8:30am to 4:30pm

Non-resident Individuals Helpline 0151 472 6196
Non-resident Landlords Helpline 0151 472 6208/6209
Residence Status (Individuals) 0151 472 6137

E-mail [email protected]