Originally Posted by missile

If you think you will have paid sufficient NHI contributions during your career to gain full pension (I believe this is 30 years for a 40 year old male), there is no point in making voluntary contributions.
As a.n.other poster has suggested a UK insurer may cover your possessions whilst overseas, but I think this could be expensive. I too have annual travel insurance but please check the small print as many have restrictions re the duration of your "holiday".
It is all about risk and your own situation. Insurance is not compulsory, it would be horrendously expensive to insure oneself against all of lifes unfortunate events.

Originally Posted by Helpful-Bob

Try gap year insurance such as Endsleigh...it may cover your needs

http://www.endsleigh.co.uk/gap-year-insurance.html

Originally Posted by Mitzyboy

I wish that were so but we recently discovered that if you move abroad before retirement age then they take 5 years off you when you get to retirement aqge, so in effect if you do this you will need 35 years to get a full pension.

Of course they never told me this, and I have 34 years! That gives me something like a 78% pension

Originally Posted by Fred James

Actually, they don't take 5 years off your record, they just do not give you the 5 years of free credits that you might need if you retired early.

Normally the clock starts at 16 and by 60 you should have the requisite 44 years - if not you get up to 5 years credits. Why on earth you don't get them just because you live abroad is beyond me! I had to pay 11 years voluntary contributions to get a full pension.

It's all changing next year when you only need 30 years for a full pension.

Originally Posted by emsr2d2

Aha, interesting, thanks. Though I notice that the list of occupations you are allowed to take up under it doesn't cover what I'll be doing. It mentions it but says it has to be organised by a UK company, which it won't be! But that's a great link and I will be giving them a call. I didn't try Googling "gap year insurance".

Thanks Bob - lived up to your username!

Originally Posted by Mitzyboy

I wish that were so but we recently discovered that if you move abroad before retirement age then they take 5 years off you when you get to retirement aqge, so in effect if you do this you will need 35 years to get a full pension.

Of course they never told me this, and I have 34 years! That gives me something like a 78% pension

Originally Posted by missile

Please note, my comment was aimed at the OP who intends to take a gap year in spain. Hence even if you were right, there is still no point in him paying voluntary contribution.

Originally Posted by Mitzyboy

I know that ... I was commenting on my own lamentable situation

Originally Posted by missile

It could be a lot worse, we are too old to die young

Originally Posted by missile

My FIL saved all his working life for his pension plan and died before he got any of the benefits.