Smaug

I recently checked my national insurance contributions. Before I left the UK, I had 9 full years of contributions, which is 1 short to receive any kind of state pension.

According to this page, https://www.tax.service.gov.uk/check...count/nirecord
... I can "Pay a voluntary contribution of £689 by 5 April 2023. This shortfall may increase after 5 April 2019."

So let's suppose I pay this - does that then entitle me to 1/3rd of a full UK government pension, assuming I make no further contributions?

1. Will I at least get back enough in retirement to make this contribution worthwhile?
2. I read about a reciprocal agreement, of which the USA is a party to - can I get that to factor into my UK government pension? or would my UK government pension factor into a US Social Security one?
3. Can I collect the government pension in the US? (I can maintain a UK bank account...)

Pulaski

Pay as many years as you can. Voluntary contributions are great value - they're even better if you're allowed to pay Class 2 contributions as most expats are. And years attributable to voluntary contributions are not subject to WEP.

Nutmegger

By the time you are ready to collect social security, for how many years will you have been contributing?

You don't need a UK bank account to receive your UK pension. It can be wired into your US account with no fees.

Smaug

I've been paying into SS for 11 years, and plan on continuing until age 65 (I'm 38) - so another 27 years. So 38 years in total. How does that factor in?

Smaug

Not sure what class 2 means!

I understand more is better, but right now I'm just focusing on the minimum to lock in whatever might be available for someone who has 10 years of contributions. In other words, if I contribute £689 right now, does that then entitle me to a partial pension at age 65 that would make it worth putting in the £689?

Asg123

If you have more than 30 years of decent pay, your US SS will not be reduced because of your UK pension.

nun

I assume your payment will be Class 1 NI to complete the last year you worked in the UK. If you are a UK expat and working overseas you could well qualify to pay Class 2 NI (or maybe Class 3 under new rules). Read the leaflet NI38 for details...just google it.

durham_lad

The rules changed recently to 35 years needed for a full pension, so 10 years contributions will get you 10/35ths of the full pension. I think 9 years will get you nothing so £689 for that 10th year is a good investment.

Pulaski

There are different contribution rates (amounts per wk/mth/yr) at which you can "buy years". You have to apply to be allowed to par Class 2 rates, but they are a bargain at only about £143/yr. Class 3 is about £715/yr. You can (usually) contribute upto six years in arrears, so if you were allowed to pay Class 2 rates and paid for the current year plus six years in arrears, it works out at very slightly over £1,000.