Should I stop my NI conts?

Pythagorous

Hi

I am currently working overseas, in Canada, for a year or two. Before I left, my employer (I'm still with the same employer as they operate worldwide) set up my NI conts to continue (I pay monthly via cheque which they process in the UK) and I don't pay Canadian social security payments.

Based on the UK NI conts Vs Canadian SS payments it would be a lot cheaper for me to just pay the Canadian SS payments and opt out of UK NI conts, during my time here. Presumably the only downfall is that my UK basic state pension entitlements may be affected, but given that over my UK working lifetime I am likely to accrue more than the necessary credits for BSP entitlements its unlikely my BSP would be affected by not paying UK NI conts for a year or two.

Is my thinking correct here or have I missed anything glaringly obvious?

Thanks guys

EdInvestor

Given the likely change to 30 years minimum for the BSP, assuming you either already have that many or will have no difficulty reaching it, you could just stop.

However there is another option: are you aware that working expats can pay class 2 conts, which cost just over 2 pounds a week and also provide the BSP.They are so reasonably priced, you might as well pay them just in case the new rule doesn't materialise.

Pythagorous

Thanks Ed.

What is the current rule out of interest?