dunroving

+1 - you can't beat the UK state pension for value for money "investing" - and if you are eligible to pay Class II, as Nun says you would be crazy to choose not to do it.

rebs

+2 - even Class 3 conts represent a good return on the investment.

z1565124

Could you share the address and phone number I need to use to get permission to pay class 2 please?

Thanks

Richard

dunroving

See Post 20 on this thread in the US forum.

OdysseusLite

Here’s the address. Not sure if the caseworker number is specific to me.

Customer Operations
National Insurance Contributions Office
International Caseworker BP1301
Benton Park View
Newcastle Upon Tyne NE98 1ZZ
United Kingdom

Phone +44 (0) 191 225 0735
Fax +44 (0) 191 225 9570

z1565124

Thanks!

jamesp47

Apologies if Im posting in the wrong place. Or the topic already cover.

I just received my NIC statement and have noticed that I have only 2 Qualifying years in the 1960's when I should have 6. Obviously some of my employers must not have paid NIC for me. Would their be a Possibility of correcting this by paying voluntary Contributions for them missing years in the 1960's?

dunroving

Those years are too far back for voluntary payments. You should contact HMRC to see what can be done if your employer didn't pay NI (though that sounds very unusual). Was it a "cash in hand" job?

jimmydean

I currently have my 30 years contributions in and should start to receive payments in 2028 however, I do not think I will contribute further to make up to 35 as in my opinion the pressure to means test the UK old age pension will become too great before that time......... my long term plans therefore do not include a contribution from the UK Old Age pension. I hope I am wrong.

jamesp47

I don't think so. It was all for the 1 employer. A construction firm. It was such a long time ago it's hard to remember. I do remember been physically given cash as payment at the time. Maybe that was normal back then. It seems strange that he paid 2 years and not the full 6. At the time I was young and didn't care

dunroving

If the firm is still in business, you could try contacting them also.

If the firm went from paying you on the books to paying you off the books, I don't think there is much you can do. Worth looking into though.

I don't know what the rules were back then but if the situation is as described above, when they moved you to off-the-books/cash payment, you might have been classified as self-employed/contractor in which case it probably would have been your responsibility to file a self-assessment. Can you remember if tax was deducted?

Alternatively, if there was some screw-up (tax and NI were deducted, but somehow it didn't end up on your NI record because, for example, the wrong NI number was associated with your pay), there must be some way to get this corrected in HMRC records.

You could be opening a can of worms with HMRC though, if you were being paid cash.

z1565124

Means testing is also worrying me and at this time the reason I'm still debating making catch up VC's to add to the 11 years I have already. I won't start to receive payments for many years to come. If I can get class 2 I might roll the dice, class 3.....not so sure? Also the fact my wife won't get a widows pension if I die makes me debate keeping the money and investing it myself. Maybe the returns won't be as good but the offset of the risk of not getting any of it in the future might outweigh it? Not easy is it!!!

john5655

Sorry if i'm a tad late with this comment about buying back NICs.

Don't be too hasty in deciding not to do this. If you qualify for Class 2 voluntary NI contributions (but this depends on your status when you left UK and if you are working overseas or not) then the cost to you is £2.75 per week, if not then it's Class 3 which costs £13.90 per week. The cost to pay 5 years of Class 2 is £715, and for Class 3 is £3,614. But if you would be getting about £1,250 (16.6%) per year extra because you bought those extra years (based on the £144 per week proposal), you will quickly get your money back (i.e. within three years max). Although some will not benefit from index linking depending on where they live.

john5655

This, in my opinion, will never happen because the state pension is "earned" through contributions by individuals as well as, in some cases, employers. It is not a state handout.

dunroving

I fail to understand how anyone can rationalise not paying £100 (or so) per year for Class II's. We pay much more than that for regular pension, car insurance, home insurance, health insurance, etc., and none of these (IMO) is anywhere near as good a value.

Even if you think pension will be means-tested, it's worth a punt. That's like saying I resent spending £500 on car insurance because I may never have an accident. Look at it as something that you might need and will likely get, and at the price of a cup of coffee a week, why quibble over the cost?