Worth paying voluntary NI for UK state pension?

[Jano]

My husband and I have 10 years of NI contributions paid each while living in the UK towards the UK state pension. We each need 35 years for full pension (£159.55 current rate) which we just have time to reach before age 67. The cost per year is currently £741 at 25 years each = £18500 in total contributions at current rates. Without paying anything, as it stands we would get the minimum of £44 approx as we have the minimum number of years. Is it worth paying for more? The additional yearly pension payment as a result of making these contributions would be £5950. In euros it would take roughly 4 years of claiming the pension to recover this cost. We can afford the voluntary contributions going forward, I will have a good defined benefit public sector pension in Ireland but my husband will only have the contributory (full) OAP here. Does it make more sense for us to pay these NI contributions or to start a PRSA for him? There's no tax relief on vol NI contributions. Sorry it's so long-winded but I'd appreciate any thoughts in case I'm overlooking anything. TIA.

 

[Jim2007]

I doubt that anyone can tell you with certainty, how this will work in the future. The only thing one can say is that the current system will have to be replaced after BREXIT as the current agreements will be void. Even the basic situation of non resident British Citizens is unknown. Will non resident, non citizens contributions even be recognised.... Is there still some possibility for some kind of special agreement for Ireland because of NI.... we just don't know.

But given the current situation in the UK I would not be surprised if non resident non citizens go shafted. Shafting foreigners stealing our benefit is a popular vote catcher.