Re: Prescriptions
 

An E106 is issued for up to two years. I don't think it is possible to get an extension. It is designed to cover the transition period for moving and working abroad. If you havent found a job and signed onto the foreign health system after 2 years you have to make private health arrangements.

The main benefit of paying Class 3 is to get the maximum state retirement pension and it does offer a very good return on the investment.

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I have worked long enough to have already paid all the contributions I need to to get max pension, it was the chance of extending the 106 I would have been interested in.

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Here you go ... sorry its a bit long but an article I found somewhere .....

Breach of copyright, rule 6... please post a link to the site it was on ;)

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As for paying Class 3 contributions to achieve the maximum state pension, according to the pension forecast I got this year, the difference in my state pension at age 65, if I give up work this year at age 50 and move to Spain, between continuing to work until I am 65, would amount to the princely sum of £9 per week. For 15 years' full time work? - I don't think I'll bother.

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Whether Class 3 contributions are worth paying depends on your contribution record when you stop work. Most people have paid enough for a full pension by the time they are 60 and men get free credits (if they need them) between 60 and 65. Unfortunately you dont get these credits if you live outside the UK.

That means that any man retiring abroard before 60 is likely to have a shortfall and not receive a full pension at 65.

Each Class 3 contribution costs about £350 as an annual lump sum. This entitles you to a 2.5% increase in your pension which is worth, for a couple, £175 a year.

That seems like a pretty good deal to me.

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Like you say most people have paid enough in to get a full pension by the time they are 60, what is this credit your talking about if you have already paid in enough ?

When i worked it out 42 years payments covered you for a full pension, ie 15 to 58, all above just goes to Gov perks kitty. :)

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[QUOTE=jdr]Like you say most people have paid enough in to get a full pension by the time they are 60, what is this credit your talking about if you have already paid in enough ? QUOTE]

It only applies if you reach 60 and have too few contributions. If so, you get up to 5 years credited for free. As I said, it doesnt apply if you live outside the UK.

I retired at 50 and was 12 years light. I will have to pay 12 lump sums. If I was still in the UK it would only be 7. Another case of the UK government treating Ex-pats unfairly.

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[QUOTE=Fred James]
Oh right ;)
Its about time all this different country rules = Europe got sorted out, but you notice it always goes in favour of the govs.

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[QUOTE=Fred James]I was 59 1/2, but was retiring from the NHS after 40+ years service, so I qualified for my full NHS pension, minus a small amount for going before the age of 60. I will lose Government pension as I only have 41 years working, but the amount I would gain by making the extra contributions makes it not worthwhile as most would be swallowed up in tax. In any case my wife was already retired when we left, and she had received a couple of the winter fuel supplements, and so she continues to receive them here, so that's an extra £200. I won't get them as I wasn't in receipt of them in the UK.

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[QUOTE=mikelincs]Ah but if you live together you would only get 100 each ;)
I left before I claimed so apparently was not entitled to it. I still filled in two sets of forms though, one each to different address`s and was told I was not going to get it from one, and that 200 quid had been paid in to my account by the other. I was told if you get it once then you get it each year after, but alas no :( that was the only payment and if I complain they might want it back.

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[QUOTE=mikelincs]
For one year it probably isn't worth the hassle but at worst you could only lose 40% of the extra.

You wouldn't get the WFA on your own account anyway as it is one per household, not one per person.

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[QUOTE=Fred James]It is one per person, but if a couple living at the same address you only get half the payment ;)

Easy to work out payments if your an accountant

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[QUOTE=jdr] You just have to ensure that you don't share a mail box wiith another family. A couple here did, and joined forces with another couple, the result was only one payment to the ADDRESS.

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I was speaking to the Dept of Work and Pensions today because I've given up work to live in Spain. I was going to make voluntary NI contributions because I'm short of the 40 odd years I need to make the full state pension.

She told me that there is a proposal going through at the moment to reduce the amount of years you need to put in to 30 years!!! Although I found this quite strange, she advised me not to make any contributions until early next year, because if I make them now I won't be able to claim them back if the 30 year thing goes through. She did reiterate that its only a proposal at the moment, but just a warning for those considering it or already doing it ... maybe speak to them yourselves on 0044 (0) 191 218 1999

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I cant see them doing that, it would cost them a fortune in credits, be nice though ;)