Jen78 Posted December 27, 2016 Report Share Posted December 27, 2016 Hi all, hope you all had a lovely Christmas. Just got a quick question about our NI contributions if anyone can help me? When we wave goodbye to the UK in 2 weeks time (eek!) do we also wave goodbye to our rights to a uk state pension and all the contributions we've put in? Is there a way of keeping them up or transferring it at any time? What has everyone else done? Thanks Jen x Quote Link to comment Share on other sites More sharing options...
ali Posted December 27, 2016 Report Share Posted December 27, 2016 I believe that you can still add to the contributions to get a full pension (but do check). We didn't and I think that any pension we receive is set at the amount it was when we left the UK Quote Link to comment Share on other sites More sharing options...
Andrew Williams Posted December 28, 2016 Report Share Posted December 28, 2016 Hello The way it works is that you will receive an amount based on your number of qualifying years and the current maximum qualifying years a persons needs for full basic state pension is 35 years moved from 30 years recently. Therefore if you have accrued say 20 years you will receive around 57% of the full amount which is currently around 135GBP per week. The amount you have accrued will continue to increase as it would have had you still lived in the UK until you start to receive payment at retirement age and at that point will not attract any further increases (assuming you still live in Australia). There is a minimum of 10 years required now to receive anything and it is possible to continue to contribute to it so as to build up additional qualifying years. Regards Andy Quote Link to comment Share on other sites More sharing options...
Druid Posted December 28, 2016 Report Share Posted December 28, 2016 We spent 10 years in South Africa before coming to Aus, when we returned to the UK after being in South Africa we applied for a pension forcast, this forcast told us how many qualifying years we had and how many we needed to qualify for a full pension, it also gave us the option to pay in a lump sum to cover the ten years we missed, we couldnt afford to do that so just started paying in again as we worked, we have been in Aus 5 years now and still pay our NI contributions through our UK bank account monthly, hoping that one day we will get our 30 years, but now that they have upped it to 35 years I dont think we will make it, but we will just keep ploddding on. Quote Link to comment Share on other sites More sharing options...
Anne Posted December 28, 2016 Report Share Posted December 28, 2016 We both receive a small uk state pension but it is frozen at the rate it was when we first received it. The Australian aged pension is means tested so if you receive too much, such as when the exchange rate is not in our favour, we receive less pension that fortnight. I would think that, with this in mind, it is not worth keeping up your contributions? Quote Link to comment Share on other sites More sharing options...
Druid Posted December 28, 2016 Report Share Posted December 28, 2016 We both receive a small uk state pension but it is frozen at the rate it was when we first received it. The Australian aged pension is means tested so if you receive too much, such as when the exchange rate is not in our favour, we receive less pension that fortnight. I would think that, with this in mind, it is not worth keeping up your contributions? You must have been in Aus for a very long time Anne, I'm sure most of us on here wont qualify for the Aus state pension, we are all relying on our Super contributions, but we have only 5 years of contributions into our super and the performance of mine is dire, any top up from the UK state pension will be welcomed, even if it is taxed. Quote Link to comment Share on other sites More sharing options...
Anne Posted December 28, 2016 Report Share Posted December 28, 2016 Yes Druid, we have been here 43yrs. I did concider that things will change & most will be receiving superannuation in future years, so was not too sure of my advice. So possibly it is a good idea to keep paying UK insurance, although it will be frozen at the amount you receive when you reach retirement age & start receiving it. Quote Link to comment Share on other sites More sharing options...
Rossmoyne Posted December 29, 2016 Report Share Posted December 29, 2016 I am retired and receiving a part Brit pension that is locked at when I claimed it in 2008. My part Centrelink pension claimed since 2013 changes to accommodate the exchange rate of my Brit pension on a quarterly basis. I have been in Australia for over 25 years and I did look at paying the top up amount to get the full Brit pension, but after doing some financial forward thinking spreadsheets, decided that it would be better to put that extra cash into super in Australia. And then of course the Super goalposts take a stroll and you wonder why you try to keep ahead of the legislation to do the right thing for you and your future! "Stepping off soapbox"! Quote Link to comment Share on other sites More sharing options...
Jen78 Posted December 30, 2016 Author Report Share Posted December 30, 2016 Thank you all for your replies, most helpful as usual. Think we will freeze the uk contributions and pay in as much as we can in oz. Hubby will get a pension from work, which he will pay maximum into, but i wont be working and collecting the child benefit equivalent. What is the centrelink pension? Is this something I could receive / pay into? Thanks Quote Link to comment Share on other sites More sharing options...
Anne Posted December 31, 2016 Report Share Posted December 31, 2016 Thank you all for your replies, most helpful as usual. Think we will freeze the uk contributions and pay in as much as we can in oz. Hubby will get a pension from work, which he will pay maximum into, but i wont be working and collecting the child benefit equivalent. What is the centrelink pension? Is this something I could receive / pay into? Thanks There is no Centrelink pension, only so called aged pension, which as it's means tested should really be known as a social security payment. You are required to have been working in Oz for 35yrs to receive it. Quote Link to comment Share on other sites More sharing options...
Andrew Williams Posted December 31, 2016 Report Share Posted December 31, 2016 There is no Centrelink pension, only so called aged pension, which as it's means tested should really be known as a social security payment. You are required to have been working in Oz for 35yrs to receive it. Hi Anne The 35 years you mention refers to a person who is living outside of Australia................the residence requirement for people living in Australia to be eligible for the Centrelink Age Pension is based on 10 years: https://www.humanservices.gov.au/customer/services/centrelink/age-pension Regards Andy Quote Link to comment Share on other sites More sharing options...
Barb68 Posted April 2, 2017 Report Share Posted April 2, 2017 (edited) Hi Andrew hope you are good. Just reading your post above and was hoping you can assist. I have lived here for nearly 20 years, left the UK in my late 20's after studying and have only made 6 years of NI contributions. I have just received paperwork from HMRC and I understand that I have the option to either pay an additional 4 years NI contributions and I then qualify for the 10 out of the 35 years pro rata state pension OR I have an option to pay an additional 10 years (on top of previous existing 6 years paid) bringing it to a total of 16 years and I will receive 16 out of the 35 years pro rata pension amount? Am I on the right track and have to decide whether to pay an additional 4 or 10 years contribution? Many thanks Barbara Edited April 2, 2017 by Barb68 Quote Link to comment Share on other sites More sharing options...
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