Rickmcd

Hi folks,

NZ'r living in the UK for 10 years and considering wether to stay to pensionable age ( I'm currently 55 years old).

Question. At the UK state pension age of 67 I would have had 20+ years of NI contributions, and thus qualifying me for state pension, but at maybe 60/70% of maximum pension i.e. I wont get the full UK state pension.

I did 25 years working in NZ prior to moving to the UK. With the bi-lateral pension agreement between NZ and UK, can I add my NZ 25 years to the UK 20+ years , to receive the full 35 years of UK state pension at retriement age?

Thanks for any help

chc4me

Hi Rickmcd,

Yes, time spent in NZ counts towards National Insurance 'Years'. This is covered under the Social Security Agreement between NZ and the UK. Check with NZ Work & Income International services: https://www.workandincome.govt.nz/ab...-services.html

Also, if you return to NZ, then time spent in the UK counts towards Qualifying years for NZ Superannuation so you will be able to claim a full NZ Superannuation pension if you return to NZ. (Note: you can only claim one state pension, NZ OR the UK)
Warm regards,
chc4me

BEVS

@Rickmcd

You can utterly rely on Chc4me. He knows his subject and more beside. Has been so helpful to folk here over the years.

not2old

wouldn't it also be possible for the OP leaving the UK with 20 years NIC's moving back to NZ, continues to work in NZ could continue paying UK class 2 NIC's thereby at age 65/67 have 100% contributions to collect full UK state pension as well as NZ superannuation (says he has 25 years of NZ working years)?

https://www.gov.uk/voluntary-nationa...ibutions/rates

https://www.workandincome.govt.nz/el...nges-2024.html

come retirement age/qualifying for state pension there is an ongoing provision for any shortfall in NIC's a person can pay in 6 missing years. This varies & changes including depending on the time of qualifying & collecting state pension.

for the OP NIC class 2 contributions are the best investment ...mentioned/posted on other forums.

https://community.hmrc.gov.uk/customerforums/ni

Pulaski

Correct me if I'm wrong (I am sure you will ), (first the bit I am sure of) but if he makes approximately 15 years of voluntary NI contributions, which is currently possible, at a cost of around £2,450 (assuming he is eligible to make Class 2 contributions), then he could claim a full UK state pension independent of any Super eligibility in NZ, and the pension payments would be greater by enough to repay the £2,450 in about 7½ months of retirement, so a really great deal!

So far, of that I am already certain, so here's the bit I am not certain about: can he also, in addition to the UKSP, claim NC Super based on the 25 years contribtions? ..... If he can, I believe he would lose that if he moved outside of NZ fter retiring, which will complicate the OP's decision if he is conisdering NZ after he retires.

BEVS

He must choose . One or the other.

BEVS

This all depends if the OP wishes to retire to NZ or to the UK.
He cannot uplift both NZ super and UK state pension. He will choose.

At point of retirement in the UK his years of work in NZ will count towards NI years for UK state pension purposes. So if the OP remains in the UK to full retirement age , he could ( at this moment in time unless goalposts change) probably uplift a full UK state pension by having 22 UK yrs + the count of the NZ years towards the pot.

If he returns to NZ he could return with that full UK state pension but it will be frozen in time. Or he could apply for NZ super whereby he cedes his UK SP to the NZ govt.

The big one is that you cannot have both. You must choose.

With NZ super ,NZ only pay for up to 6 months if overseas from NZ. After that it is stopped. Further NZ super eligibility remains at age 65.

LittleGreyCat

One thing that I am wondering about (prompted by the posters on here from time to time) is what happens after you retire and you move from the UK to NZ (or vice versa).
Are you locked into the pension you qualified for at the point of retirement or can you (for example) switch from drawing a UK state pension to drawing NZ Super?
If you can switch, can you switch back 10 years later when you move in the other direction?

BEVS

Evening LGC.

If you are retired in the UK receiving UK state pension and then you move to NZ, you have one of two options
1 - You keep drawing your UK state pension but the amount is frozen in time
2 - You elect to swap your UK state pension for NZ super. You will be paid NZ super and NZ recoups your UK state pension amount in exchange..

I am not certain regarding returning after 10 years. At the moment if you are in receipt of NZ super then upon return to the UK you can take up a full UK state pension. It is a reciprocal agreement.
However - goalposts can and do change . Ten years is a long time ahead.