I studied in the UK for four years but never worked there. Is it worth my while paying voluntary N.I. contributions.

S

Sparky62

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I am a UK born citizen living and working in Spain and will reach retirement age in three years time. For all my working life I have paid into the Spanish public pensions scheme from which I will receive my pension. I recently contacted the UK govt pensions scheme through their website and found that I have paid four years of UK contributions but must have at least ten year’s worth to qualify for an annual pension of around 3,000 GBP. I presume the four years in question are when I was studying at University in Scotland in the early eighties. Is it worth my while paying voluntary contributions into the British system to have a UK pension supplement?
Thanks in advance for a very interesting web site.
Regards
 
Absolutely. Buy up to 35 years to get a full UK state pension if you can. The investment return is better than anything else.

Don’t forget you may be taxable in Spain on the UK pension income.
 
At this stage, you will only be able to pay from 2006 - 2024 (but you cannot pay after state pension age)
See this page to see if you might qualify for Class 2 which is much cheaper
w&ww.gov.uk/voluntary-national-insurance-contributions/who-can-pay-voluntary-contributions
It would seem you defo qualify for Class 3 under the 3 year residence rule, but not sure about Class 2
You need to complete an online CF83 to get a definitive answer from Pensions Office UK, see
w&ww.gov.uk/guidance/apply-to-pay-voluntary-national-insurance-contributions-when-abroad-cf83
 
Thanks to both of you. I was in two minds as to whether it would be worth it or not. In fact I was quite surprised that I was eligible, not having worked full time in the UK. I will follow up with the CF83 questionnaire for more information.
Thanks again
 
The UK government recently Introduced means testing on the universal fuel allowance, now only those on pension credit can avail of it. A staggering Ten million pensioners have been cut off the scheme. How long before the State Pension be means tested..not too far off in the distant future I reckon with the state their public finances are currently in. They have an ever increasing elderly population and there sure was a reason why the government forced so many private companies to provide work place pensions for their workers a few years back.
 
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