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Post 2017 state pension and emigration?
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Cheese_eater
Posts: 5 Forumite
Not quite sure where to look for the answer to this.
I'm British. At the moment I know I've got about five qualifying years worth of n i contributions, so under the current rules I'd get five thirtieths of the state pension even if I didn't pay in any more. I'm thinking I might go and work for relatives in NZ with a possible view to emigrating permanently. Do the new regs from 2017 mean that I would totally lose ALL UK state pension entitlement if I never managed to get myself up to the magic 7 or 10 or whatever qualifying years? Or does it mean that those odd years would still count because they were earned under the old system? Five thirtieths? Five thirtyfifths? Zilch?
TIA
I'm British. At the moment I know I've got about five qualifying years worth of n i contributions, so under the current rules I'd get five thirtieths of the state pension even if I didn't pay in any more. I'm thinking I might go and work for relatives in NZ with a possible view to emigrating permanently. Do the new regs from 2017 mean that I would totally lose ALL UK state pension entitlement if I never managed to get myself up to the magic 7 or 10 or whatever qualifying years? Or does it mean that those odd years would still count because they were earned under the old system? Five thirtieths? Five thirtyfifths? Zilch?
TIA
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Sorry, but you will get pretty near zilch anyway because your state pension would not increase with inflation once you moved to New Zealand. http://www.dwp.gov.uk/international/benefits/state-pension/state-pension-arrangements-in-social/#newzealand . So assuming you are fairly young now, by the time you retire those 5 years will be worth peanuts.0
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Yes, fairly young!
But I thought this inflation increase business only happens once you've claimed your pension - say someone in NZ who's entitled to a UK pension reaches their retirement age and claims tomorrow, then I know that THAT pension would never be increased.
However that's not quite what I'm asking. I just wondered if the contributions I have already made under the current system will qualify me for anything at all under the new system if I don't make the prescribed number of qualifying years under the new system. Or does anyone know where I could look?0 -
Yes, It hink it is after you claim.
I also think you can voluntarily keep contributing NI too.0 -
Proposals are still sketchy from what I understand but looks like what you say is likely to be true, if you contribute for less than ten years, or possibly seven as you say, then after 2017 you probably won't get anything.
However there is no guarantee that you won't return to the UK and continue to contribute then, and pensions regs change very five years, so may well change before you get anywhere near retirement.0 -
Boo! OK, thanks all.0
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Cheese_eater wrote: »At the moment I know I've got about five qualifying years worth of n i contributions
Have you had an official pension forecast? That'll presumably show how many years you have.
If you like a gamble, you could always consider buying enough years to reach the magic ten. My guess is that you're too young for that to make much sense since there must be a chance that you'll work in the UK again.Free the dunston one next time too.0 -
Ten years has been used as an example for the new state pension - the exact number of years will be in regulations not the Bill (or Act presuming it is passed).
The number of years required to have already been paid to be entitled to the transitional pension may not be the same as the number of years required for the new pension - again this is to be in regulations.0 -
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Does your 5 years include the years from age 16-19? Although this stopped in 2010, those who got it before then still have it. n So, if you ahve 5 yrs from age 19, you may actually have 8. So get a forcast from DWP.
And then it would surely be worth you putting in 2 years worth to get to 10. Which can be increased on your return, or via more voluntary years later.0 -
Unfortunately I'm counting the 3 auto-credit years in the 5. As I said, fairly young!
Actually, it occurs to me I might be treated as if I'm one of George Osborne's "Aussie backpackers" that he's so desperate to de-pension.0
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