UK NI and State Pension advice sought

[radioman]

I have a question concerning UK National Insurance Payments and how they affect the UK State Pension entitlement.

 

Everything I have read says I need to pay 30 years of NI contributions to qualify for a full state pension on retirement. It's 20k Baht a month so worth picking up. I have already paid 31 years of full rate NI contributions so will be entitled to a full UK state pension in about another 15 years or so (maybe).

 

Question is, having paid 30 years do I need to keep on paying NI contributions just for the state pension? I am non resident so could in theory opt out anyway. What impact would there be, on my state pension entitlement, if I were to opt out now after having paid 31 years?

 

Appreciate a qualified legal opinion should be sought before doing anything. Just floating this for any other UK boardies who might have an idea.

 

Cheers

 

[Dexi]

I`m in a similar situation but need to pay in a few more years to get to the full 30.AFAIK if you are not working (self-employed) then no need to carry on paying class 2 contributions.You could always try ringing the HMRC on 084591 54655 to check.

[Mekong]

You are Correct, 30 years NI Contributions or you can pay a lump sum instead. As an expat I opted for the lump sum payment.

 

I am certain, that as an expat, once you have made 30 years contributions you can them opt out and still be entitled to state pension. Spend a few quid on an accountant to get real advice.

 

 

 

 

[PP]

If you're working in UK then NI contributions are automatically deducted from your pay, you cannot 'opt out' even though you have paid 30 contributions already.

 

If you're working overseas for a UK company that automatically deducts NI contributions from your pay then you can 'opt out'

 

If you are not either of the above then you are already 'opted out' and can 'opt in' by paying voluntary Class 2 or 3 contributions.

 

But as you've already paid the minimum 30 then there's no need to voluntarily pay any more, your full pension is covered.

 

Write to the NI people and ask for a pension forecast and that will assure you of where you stand.

[radioman]

This is a bit old now but just remembered I was going to do something about this.

 

 

Thanks PP I fall into the bracket encompassed by your second statement. Will do the sensible thing and both call HMRC and get a professionals (signed off) advice.

 

Cheers guys.