Do you think Revolut would be a good option?
Do you think Revolut would be a good option?As an Irish resident it's probably best from a fees perspective to open an account with a fintech that has both sterling and euro wallets.
You will get a UK account number for the sterling wallet. Payments from HMRC go into this. You make the transfer to the euro wallet in the app at a very low commission and spend/withdraw/transfer as you please in Ireland.
The alternative is you give HMRC your IBAN for your bank account in Ireland. I don't know the details but bricks-and-mortar banks charge fees and higher commission for transfers in sterling. Fintechs will save you a lot over the course of a retirement.
I’ve used Wise and Revolut to make contributions.Do you think Revolut would be a good option?
Crazy that it's taking 40 weeks to update isn't it. I should be about the end of Jan so. Will almost be time to make the next payment by the time this one clears!Just a quick update and thank again for people on here.
Eventually rang and eventually got through to hmrc who confirmed payment in respect of backdated contributions received (class 2), guided 40plus weeks before updated on line.
Think both myself and other half have now 23 odd years contributions and will pay class 2 contribution till retirement, assuming uk doesn’t go bankrupt and we don’t pop our clogs in the meantime, it will be a very welcome boost to retirement income
Thanks again for advice on here
Hi - can I ask how long after you sent money did you receive letter confirming payment etc. I sent money in August and haven't received any letter and it hasnt been updated online either. I was told there was a backlog of 35 weeks?I'm in a similar situation. Bought 8 years. Sent them the money in April. I received a letter confirming payment and which years payment was allocated to, but it's still showing as unpaid online.
It took over 8 months for my payment confirmation to be visible online.Hi - can I ask how long after you sent money did you receive letter confirming payment etc. I sent money in August and haven't received any letter and it hasnt been updated online either. I was told there was a backlog of 35 weeks?
I rang them twice, and on the second call they said they'd send me a letter confirming it was received. I don't think it was automatic, and only triggered because the agent offered it.Hi - can I ask how long after you sent money did you receive letter confirming payment etc. I sent money in August and haven't received any letter and it hasnt been updated online either. I was told there was a backlog of 35 weeks?
Just curious did the letter say you were to pay class 3 annually ? I was a bit confused as mine says you have been approved to pay class 3 annually but then the next page lists a mixture of clas 2 and 3. I wondered if it meant I had to pay class 3 going forward between 2025 and 2034 when I am 67 ?Thank you Danny and all for your advice and updates . Myself and my wife applied online on 5th November With revised CF83 submitted on 7th November explaining gaps as unemployed but receiving irish unemployment benefit and full credits . Today ( 3 weeks start to finish ) we both received letters by post approving us to pay class 2 for 18 years each .. happy days
I can’t see any scenario where you’d have to pay 10k to fill in gaps?If I pay 10k to fill in gaps can I claim tax relief in Ireland (on Irish income) on the investment?
Class 3 × 10+ years would add up to this.I can’t see any scenario where you’d have to pay 10k to fill in gaps?
Let us now when the payment actually increases.So finally, my payments for 17 years of Class 2 back in May 2024 have been updated fully on the system, having been only half updated in October. That approximately doubled my contributions to the full amount.
I have been getting a pension now since August, but at the old forecasted rate (£102). I rang the International Pension centre to see if the forecast/pension would increase now the system was updated. She checked my details and said it would increase to £203 in due course. I was glad to have confirmation of the updated pension amount as I could not find that anywhere on the system, and was hoping that my class 2 payments were not in vane!
I can relax now!
Ok, so I'll just have to make up dates then and hope there are no repercussions!Put in the dates as best you can recall. If they need more info they'll ask.
"This is because although the UK state pension is payable overseas, it is not “uprated” annually unless there is a legal requirement to do so – for example, where there is a relevant reciprocal social security agreement in place."I'm presuming that Irish nationals, formerly resident and working in UK, are not affected. Can someone confirm please?
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