The current number of NI (National Insurance) year contributions that are required for a 100% UK pension, is 44 years.
The percentage of the UK State pension that a retired person is entitled to is calculated as the number of NI contribution years divided by 44.
After April 2010 the number of NI contribution years required for a 100% UK pension will be reduced to 30 years.
There is currently a UK scheme that allows people, who do not have the full 44 years of NI contributions, to purchase up to 12 additional NI contribution years.
The current rate for the purchase of one additional NI contribution year is £420. For the maximum 12 years allowed, the cost would be £5,040.
After April 2009 the cost for one additional NI contribution year will be £625. For the maximum 12 years allowed, the cost will be £7500
If an Irish citizen, resident in Ireland, purchases additional UK NI contribution years, to increase the percentage of UK Pension entitlement, will the purchase price be tax deductible in Ireland, say like a normal RAC (Retirement Annuity Contract)?
That is, will the purchase of the extra UK NI contribution years, be treated as a Pension contribution, for Irish Income Tax purposes?
Like myself, there must be a large number of Irish people who worked in the UK back in the 1960's, 70's and 80's who have built up NI contribution years that entitle them to a UK State pension, but who returned to Ireland and are completing their working lives here.
Can a person entitled to the Irish State contributory pension also draw the UK State pension, that is the percentage of the UK State pension that was earned by the persons NI contributions years?