National Insurance Contributions
#1
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Thread Starter
Joined: Jan 2011
Location: Orton, Ontario
Posts: 2,028
National Insurance Contributions
Has anyone continued to pay their NI contributions after they moved to Canada. If so how do you pay? Do you still have a UK account and pay from that or do you transfer money from a Canadian account?
#2
Re: National Insurance Contributions
I made a 'bill' payment from my UK account quoting the reference on the letter. It wasn't a suggested method but it worked.
#4
Re: National Insurance Contributions
I wire transfer funds from my Canadian bank. It's probably not the most cost-efficient way to do it, but the only other sensible option that I could think of would have been to transfer money to a relative and get them to send a cheque... that seemed fraught with opportunities to go wrong.
#5
Re: National Insurance Contributions
I wire transfer funds from my Canadian bank. It's probably not the most cost-efficient way to do it, but the only other sensible option that I could think of would have been to transfer money to a relative and get them to send a cheque... that seemed fraught with opportunities to go wrong.
#6
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Joined: Jan 2011
Location: Orton, Ontario
Posts: 2,028
Re: National Insurance Contributions
Thanks for the suggestions. Good to know there are options that work.
#7
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Joined: Nov 2009
Posts: 68
Re: National Insurance Contributions
Why do pay in to your national insurance?
#8
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Joined: Apr 2009
Location: SW Ontario
Posts: 19,879
Re: National Insurance Contributions
#9
Re: National Insurance Contributions
#10
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Joined: Nov 2009
Posts: 68
Re: National Insurance Contributions
Can you elaborate on your point here?
#11
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Joined: Nov 2009
Posts: 68
Re: National Insurance Contributions
How much is it per year? And does it only matter if you end of retiring in the UK?
#14
Re: National Insurance Contributions
Of course. It's not the fault of an inclusive society that some people choose to opt out for a period. People say they'll go and live on a desert island or in some barren wasteland forever but few of them turn out to mean it. If they don't keep up their contributions then, when Shangri-La turns out not to be all that, they'll return and struggle to catch up.
#15
Re: National Insurance Contributions
When I looked at this a few weeks ago it seemed to me that a missing year payment of approx £780 would add £250 a year to the basic state pension. So living 3 years into retirement would result in a benefit overall. 35 years contributions needed for a full basic state pension. Is that how you would see the situation?