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UK State Pension Voluntary Contributions

UK State Pension Voluntary Contributions

Old Oct 6th 2023, 1:00 pm
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Default UK State Pension Voluntary Contributions

Hi all

Looking to move to Portugal next year using D7 visa (private pension), however still need another 5 years to qualify for the full UK state pension (only due in 2033 when reach 67!).

Was planning to continue running my UK Limited Co after moving but take any profits as dividends to avail of NHR (may miss this boat though after the announcements this week!).

Not sure if voluntary (Class 3?) NI contributions can be made for state pension if no longer UK tax resident though?

Or would taking a directors salary in UK be a better option to qualify for state pension?

TIA
Tony
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Old Oct 6th 2023, 1:18 pm
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Default Re: UK State Pension Voluntary Contributions

Paying voluntary Class 3, or even Class 2 contributions is certainly possible while being tax resident outside the UK. I have been paying Class 2 contributions for about 15 years while living and working in the US, and FWIW paying negligible amounts of tax in the UK (not just less than the personal allowance, but rather pocket change amounts), and not working for a British employer either.

There are several threads in different BE sub-forums on the subject of voluntary NI contributions, but by far the most active and longest running is the one in the US sub-forum.

Last edited by Pulaski; Oct 6th 2023 at 1:21 pm.
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Old Oct 6th 2023, 1:20 pm
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Default Re: UK State Pension Voluntary Contributions

Can be either Class or 3
https://www.gov.uk/voluntary-nationa...-contributions
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Old Oct 7th 2023, 7:23 pm
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Default Re: UK State Pension Voluntary Contributions

Originally Posted by Pulaski
Paying voluntary Class 3, or even Class 2 contributions is certainly possible while being tax resident outside the UK. I have been paying Class 2 contributions for about 15 years while living and working in the US, and FWIW paying negligible amounts of tax in the UK (not just less than the personal allowance, but rather pocket change amounts), and not working for a British employer either..
same here...the scary thing is my projected UK state pension at age 67, with 35 years' contributions is almost exactly the same as my US Social Security at the age of 62, with 12 years' of contributions!
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Old Oct 8th 2023, 2:57 am
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Default Re: UK State Pension Voluntary Contributions

Originally Posted by Andyj100
same here...the scary thing is my projected UK state pension at age 67, with 35 years' contributions is almost exactly the same as my US Social Security at the age of 62, with 12 years' of contributions!
Yeah, the British state pension isn't much. I'm glad to have it, but 30+ years of SS contributions are going to pay me a whole lot more in retirement. And of course after 30 years I say goodbye to the threat of WEP hanging over me.
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Old Oct 9th 2023, 10:15 am
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Default Re: UK State Pension Voluntary Contributions

Originally Posted by Pulaski
Paying voluntary Class 3, or even Class 2 contributions is certainly possible while being tax resident outside the UK. I have been paying Class 2 contributions for about 15 years while living and working in the US, and FWIW paying negligible amounts of tax in the UK (not just less than the personal allowance, but rather pocket change amounts), and not working for a British employer either.

There are several threads in different BE sub-forums on the subject of voluntary NI contributions, but by far the most active and longest running is the one in the US sub-forum.
Thanks for the info

VFS appointment booked in London for 3/11/2023

Hopefully all goes well and have got in before there's a change in the D7 criteria
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