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Voluntary National Insurance contributions

Voluntary National Insurance contributions

Old Nov 18th 2016, 10:14 pm
  #91  
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Default Re: Voluntary National Insurance contributions

Originally Posted by not2old View Post
in my post @ #86 & 88 is what is from the Government of Canada

Should mrken30 have info to the contrary, maybe he can post it to this thread?
I have no information to the contrary, I would have hoped it would have been a reciprocal arrangement. I guess it just depends on the negotiations done at the time of the treaty.
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Old Nov 18th 2016, 11:22 pm
  #92  
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Default Re: Voluntary National Insurance contributions

Originally Posted by mrken30 View Post
I have no information to the contrary, I would have hoped it would have been a reciprocal arrangement. I guess it just depends on the negotiations done at the time of the treaty.
Not to dig up an old BE sore topic again, but however you look at it there is just no logical reason for RP recipients in Canada (and other countries) not to get the uprating while there are others who do.

I have a proposal. At 7.00 am every morning I shall stand to attention and think of England. The UK government will reciprocate by uprating the pensions of all UK RP recipients who live in New Brunswick, Canada and for those not at the right age yet, they will pay it from age 50, backdated.

That makes sense.
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Old Nov 18th 2016, 11:38 pm
  #93  
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Default Re: Voluntary National Insurance contributions

Originally Posted by BristolUK View Post
Not to dig up an old BE sore topic again, but however you look at it there is just no logical reason for RP recipients in Canada (and other countries) not to get the uprating while there are others who do.

I have a proposal. At 7.00 am every morning I shall stand to attention and think of England. The UK government will reciprocate by uprating the pensions of all UK RP recipients who live in New Brunswick, Canada and for those not at the right age yet, they will pay it from age 50, backdated.

That makes sense.
Good luck with Brexit, if the business negotiations are as bad as the pensions, the UK is not going to do very well out of any deals.
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Old Nov 19th 2016, 1:01 am
  #94  
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Default Re: Voluntary National Insurance contributions

Originally Posted by mrken30 View Post
Good luck with Brexit, if the business negotiations are as bad as the pensions, the UK is not going to do very well out of any deals.
When all else fails there is 'Trumps America'. After all, how can 325 million peeps in the US be so wrong, sucking it up or be so stupid to stay & stick together?

Instead of going on about 'what might happen' - does anyone have an (their own personal one) exit strategy of places to move to if the (UK) Brexit or Trumps world (comes tumbling down) to crap out the life of you & your family?

After all, speculate all you want, what is in the media, nobody knows till after the fact.

On that basis understanding that common folk have zero control over their country future events .... just going about wishing or hoping the future promised by their electorate will be safer & brighter

Are people so stupid & trusting

Imagine for the moment 'what if' another 1929 type depression hit' could you survive it?
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Old Nov 19th 2016, 11:29 am
  #95  
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Default Re: Voluntary National Insurance contributions

Originally Posted by not2old View Post
When all else fails there is 'Trumps America'. After all, how can 325 million peeps in the US be so wrong, sucking it up or be so stupid to stay & stick together?

Instead of going on about 'what might happen' - does anyone have an (their own personal one) exit strategy of places to move to if the (UK) Brexit or Trumps world (comes tumbling down) to crap out the life of you & your family?

After all, speculate all you want, what is in the media, nobody knows till after the fact.

On that basis understanding that common folk have zero control over their country future events .... just going about wishing or hoping the future promised by their electorate will be safer & brighter

Are people so stupid & trusting

Imagine for the moment 'what if' another 1929 type depression hit' could you survive it?
To which the answer is no.

Personally, I'm not holding any savings in equities, just cash. But, I've done that for some time. Since 2008, I've thought the world financial markets are too unstable to make the risk of investing worthwhile.

The UK is probably going to enter a period of stagflation, so it makes sense to make any large purchases sooner rather than later. But we were doing that anyway as we renovate our house.

The one thing we are doing as a result of Trump's election, is booking travel to the Baltic capitals next year. We may not be in time, Lithuania's president thinks that Russia will make its move before Trump's inauguration; but if possible I'd like to see Tallin and Riga before they become either inaccessible or are destroyed in the war.
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Old Nov 19th 2016, 12:15 pm
  #96  
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Default Re: Voluntary National Insurance contributions

Originally Posted by Editha View Post

The one thing we are doing as a result of Trump's election, is booking travel to the Baltic capitals next year. We may not be in time, Lithuania's president thinks that Russia will make its move before Trump's inauguration; but if possible I'd like to see Tallin and Riga before they become either inaccessible or are destroyed in the war.
You posted somewhere previous about America & Nato, well this is 2016 not the 50's or 60's, its an electronic age, folks more concerned about finance & welfare, cyber war is a big deal, who owns most of the US debt.

Big guns, big bombs, the space race are a thing of the past.

America is not the protector of the free world & looking on a wiki at how many military bases they have around the world (without what it all costs), including the military personnel - my wish is that America pulls back quickly as much as it can from the 'Far East, Middle East, Eastern Europe nose poking.

https://en.wikipedia.org/wiki/List_o...#United_States

https://en.wikipedia.org/wiki/United...ry_deployments

Let the other middle eastern countries take care of ISIS, let the EU & Russia jump in - the US should get 'the hell out of the boiling pot' IMO

The US should IMO stop giving Israel the $38 billion straight dollars over the next 10 years + other financial support as well as whatever funding to other countries

http://fortune.com/2016/09/13/us-israel-military-aid/

Back to Eastern Europe - America out of any conflict or support to what is going on, let Russia & the EU deal with it... its non of America's business IMO

Looking at it as an outsider, America should take care of its own domestic affairs first, get a move on to lower its $20 trillion debt, create jobs, improve its healthcare ... 'make America great again for Americans' (well at least try), after all, a happy American doesn't need to have its country involved or waste their tax dollars foolishly

Or, Trump (as Dr Strangelove) could start world war three by dropping a nuclear bomb on North Korea, Iran, Syria & Russia all in the same hour on the same day.... now that would be comical, as comical as there not being another 1929 depression or a 2008 meltdown


.

Last edited by not2old; Nov 19th 2016 at 12:43 pm.
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Old Nov 19th 2016, 6:48 pm
  #97  
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Default Re: Voluntary National Insurance contributions

Back to the thread topic on NI contributions & state pension

For those considering delaying (defer) collecting it

https://www.gov.uk/deferring-state-pension/how-it-works

Putting off your State Pension | The Pensions Advisory Service

https://www.gov.uk/government/upload...nformation.pdf
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Old Nov 26th 2016, 7:05 pm
  #98  
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Default Re: Voluntary National Insurance contributions

Originally Posted by not2old View Post
Perth @ post # 43, does the following help any

State pension top-ups overhaul: you risk paying more for nothing - Telegraph

How can I fill the gap?
"You can normally only fill gaps in your record for the past six years. However, those retiring before next April are being offered the opportunity to plug a further six years within six years of retirement. Buying back each year will cost £14.10 per week or £733.20, which will buy you an extra £200 annual pension under the current regime."
If you survive for four years, then your investment is made good
What effectively is the benefit of Class 2 over class 3 contributions ? Does it matter ?

Can weekly partial payments be made to catch up with gap in prior years ?

To make payments by standing order is national insurance number sufficient or is reference number needed for each payment ?

thanks for any advice
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Old Nov 26th 2016, 11:04 pm
  #99  
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Default Re: Voluntary National Insurance contributions

Originally Posted by morpeth View Post
What effectively is the benefit of Class 2 over class 3 contributions ?
One costs more than the other but achieves the same result.

It's best to apply and see if you qualify for the lower rate unless it's really obvious you don't.

I've read nothing to suggest I'd qualify for the lower rate but they said I do.
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Old Nov 27th 2016, 9:38 am
  #100  
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Default Re: Voluntary National Insurance contributions

Originally Posted by morpeth View Post
What effectively is the benefit of Class 2 over class 3 contributions ? Does it matter ?

Can weekly partial payments be made to catch up with gap in prior years ?

To make payments by standing order is national insurance number sufficient or is reference number needed for each payment ?

thanks for any advice
dont know about the first two queries -class 2 if you are self employed though-but when/if you get a statement /bill for payments there is a long reference number so you can pay via online banking/ standing order etc.

you can ask for a forecast from NI as to your position. I recommend getting the form so you can think about the answers rather than on phone as you may not have information to hand they require
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Old Nov 27th 2016, 9:44 am
  #101  
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Default Re: Voluntary National Insurance contributions

Originally Posted by angie_329 View Post
dont know about the first two queries -class 2 if you are self employed though-but when/if you get a statement /bill for payments there is a long reference number so you can pay via online banking/ standing order etc.

you can ask for a forecast from NI as to your position. I recommend getting the form so you can think about the answers rather than on phone as you may not have information to hand they require
I paid before Class 3 and didn't pay attention to Class 2, but looking at website if one does any sort of self-employment or consulting seems one should pay Class 2.
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Old Nov 27th 2016, 11:33 am
  #102  
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Default Re: Voluntary National Insurance contributions

Originally Posted by morpeth View Post
I paid before Class 3 and didn't pay attention to Class 2, but looking at website if one does any sort of self-employment or consulting seems one should pay Class 2.
yes and it's much cheaper....you have to be registered as self employed - so if you are consulting its a good idea.
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Old Nov 27th 2016, 1:02 pm
  #103  
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Default Re: Voluntary National Insurance contributions

Originally Posted by BristolUK View Post
One costs more than the other but achieves the same result.

It's best to apply and see if you qualify for the lower rate unless it's really obvious you don't.

I've read nothing to suggest I'd qualify for the lower rate but they said I do.
If you have been unemployed you can only pay Class 3. Self employment allows for Class 2 payments.
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Old Nov 27th 2016, 1:19 pm
  #104  
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Default Re: Voluntary National Insurance contributions

Originally Posted by angie_329 View Post
yes and it's much cheaper....you have to be registered as self employed - so if you are consulting its a good idea.
I am not nor ever have been registered as self employed. They say I am eligible for the lower rate.

Originally Posted by Perth View Post
If you have been unemployed you can only pay Class 3. Self employment allows for Class 2 payments.
I moved to Canada where I have been living on a combination of actuarially reduced UK Civil Service pension taken at 50 and rental income.

Canada does not consider rental income to be self employed. When I read the stuff about voluntary contributions I believe there was something about having been self employed in the UK as well as being self employed in the country you went to.

So even if I considered my rental income to be self employed income, I was not self employed in the UK.

Yet I completed the forms and they confirmed my eligibility for the lower rate.

It surprised me but that's what they have said.
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Old Nov 27th 2016, 9:38 pm
  #105  
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Default Re: Voluntary National Insurance contributions

Originally Posted by BristolUK View Post
I am not nor ever have been registered as self employed. They say I am eligible for the lower rate.


I moved to Canada where I have been living on a combination of actuarially reduced UK Civil Service pension taken at 50 and rental income.

Canada does not consider rental income to be self employed. When I read the stuff about voluntary contributions I believe there was something about having been self employed in the UK as well as being self employed in the country you went to.

So even if I considered my rental income to be self employed income, I was not self employed in the UK.

Yet I completed the forms and they confirmed my eligibility for the lower rate.

It surprised me but that's what they have said.
That kind of my question,. I may be getting consulting income from outside the UK, may be doing some work online. So it just seemed maybe Class 3 easier to pay as I did before, as I am not sure how to classify myself.
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