Bergamot

Hi everyone... Just wondering who amongst us, in the US of A, have chosen to continue to make National Insurance contributions. If so...

Class 1, 2, or 3?
How much?
How often?
What method (transfer, check, visa)?
And why? Is there a certain payoff you're after, specifically? Healthcare? Bus money? What makes it worth it?

dunroving

While you are waiting for replies, you might try running a search for national insurance on this part of the board. I know it's been addressed several times before.

Ray

Plenty of info here ...

http://www.thepensionservice.gov.uk/

Patrick Hasler

I stopped when I left and acording to NI in the Uk I will still get the full UK pension when I retire.
A friend of mine in Colorrado left the UK 25 years ago and now gets the full amount every month paid to her US bank account.

Ray

Are you sure Pat ..
you currently need 44 years of contribution
but there are talk of reducing this to 30 years but not happened yet

you can get a pension forecast easily enough
just did it ...

Maz

Nope not me. I only earned a wage/salary full-time for 2 1/2 years anyway, before leaving for France. And now I have zero intention of returning anyway, and really no interest in getting the downgraded expats' pension.

Arizona Wurzel

You will only get the full pension if you keep paying in to it until you get the 44 years in.Thats as it is at the moment.They allowed me 21 years so i get 47% of the UK pension plus my pension from US social security.I think you have to have a minimum of 9 years paid in before they will allow you to draw a percentage of the UK pension.

Dogbyte

Since retiring from full time employment 8 yrs ago I continued to pay voluntary Class 2 contributions approx £31 per month currently.In 15 months I will be entitled to full UK pension at 65 yrs of age.paid in 44 years.Even with part time work I also paid the contributions on the pay earned over a certain amount, but can claim that back at the end of each year.Just sent P60 to HM Customs & Excise(was NI)and get a refund on what I paid extra,(a little savings scheme).

cindyabs

Hurray, so if DH gets UK pension AND social security, we may not be eating catfood in 10 years time after all!!

Bergamot

Muchos gracias everyone... I have a feeling I'll get screwed in both the US and the UK if I'm lucky enough to totter into old age. 44 years paying in? Erm, I've switched continents a couple too many times already and just haven't paid good and proper attention to knowing this sort of stuff. It all feels so daunting. So perhaps I'll change my question a bit....

Anyone know a kickass ACCOUNTANT that specializes in UK+US tax matters? (Real estate, income tax, etc) that will waltz me through all decisions with grace, ease, and flair?

Ray

First off get a pension forecast from the UK ..they will also offer a rate in which you can add years ..

Patrick Hasler

it's not just her Ray .......... The English guy I work with who left the Uk when he was about 30ish, got notification through the mail of how much to expect on his retirement ......He was quite suprised

Ray

So did I ..bit there was lots of ifs and buts...
I got a forecast earlier this year and I am ten years short
they gave me an amount I can pay covering each missing year to bring it to the 44 years... but then they say in the forecast ...you may not have to pay this as HMG is considering changing the years to 30 years ..but they have been considering this for a long time now ... and the decision was mine ...

Get a forecast to be sure ....

julii2020

The new Pensions Legislation was passed on 26th July - it reduces the required number of years to 30 if you're retiring after 2010.

http://www.thepensionservice.gov.uk/...eform/home.asp

Ray

Thank you ... I have been waiting for that ....