michaeldc

Hi guys, I'm 34, just moved to the states for work 2 months ago and am paying my student loan but not yet my NI so I checked online (thanks to reading a thread on here) and found the following information:

I need to have 35 years of contributions before 2050 to get my state pension in the UK right?
I have 15 full years so far.
I can still pay Class 2's right? I understand that's changing soon
Can I pay a lump sum at the end of 2016 or early 2017 to make 2016 a full year or can I do it after April (financial year?)

I don't have much money out here really and since I don't plan on being here forever I might just not bother with it and pick it up when I go home (in a year or two or three). Can anyone see any problems with that? I currently have 34 years to make 20 more years worth of contributions so I might just forget about this for the time being while cash is tight and if/when I move home I can just start again right?

Thanks!
Michael

Pulaski

If you're only planning on being here 2-3 years then there is no harm in doing nothing for that time, and then, if you return to the UK, doing nothing at all, and if your life changes and you stay in the US after all, then you can pay for upto six years in arrears anyway.

And if you stay you could do what I did, which is to do nothing for twelve years, then pick up by doing a six-years-in-arrears catch-up payment, and then annually thereafter. That said it would be good to take advantage of the cheap Class 2 contributions for 2017.

michaeldc

Thanks Pulaski, can I confirm that the year runs from Apr to Apr and that after Apr 2017 Class 2's are done for?

I would like to take advantage of that as I already have almost half a year of contributions from Apr 2016 to Aug 2016 - can I pay that in a lump sum in Apr 2017 or after? Will that price change if I wait longer than that?

Ta again!

Pulaski

I am not 100% certain but I think the change to Class 3 is in 2018, not 2018 is the last year of Class 2. .... I just pay the bill when it comes. The bill for 2016 and 2017 will be at the Class 2 rate irrespective of whether you pay it immediately or wait several years. In other words, you pay the rate set for the year, not the rate when you make the payment.

So far as part year payments and contributions, you'd really need to speak to the DWP in Newcastle, and they'll tell you what you need to do. I get a bill towards the end of April or early May, which says to pay it as soon as possible, but honestly I am not even certain if it is for the previous April-March, or for the year just started.