Paying Gap in National Insurance contributions when no longer living in the UK

Jeremy_W

Hi,

I have just got a letter saying that i have a gap in my national insurance contributions for 09-10. I no longer live in the UK and am not planning on moving back. I have built up 13 qualifying years and am now 38 years old.

Can someone advice me whether i am likely to be better off paying this or not? Or maybe paying for the gap in a few years? The government wants 626.60 pounds for 1 year. Is this amount likely to go up for future years?

Thanks,
Jeremy

AnxiousMum

Did you notify them that you are no longer living here? You are likely building up pension in whatever country you are working in now, and would receive a partial pension from the UK come time to retire (if it still exists by then!)

HappyMJ

Jeremy_W wrote: »

Hi,

I have just got a letter saying that i have a gap in my national insurance contributions for 09-10. I no longer live in the UK and am not planning on moving back. I have built up 13 qualifying years and am now 38 years old.

Can someone advice me whether i am likely to be better off paying this or not? Or maybe paying for the gap in a few years? The government wants 626.60 pounds for 1 year. Is this amount likely to go up for future years?

Thanks,
Jeremy

You do not need to pay it and I don't believe you will be better off by paying it if you have no intention to return to the UK. The cost in the future will continue to go up. 13 years will get you a partial pension anyway and would paying £626.60 now and £655 every year from now on for 17 more years to entitle you to a full basic state pension of £102.15 per week be worth it? I'd save the cash it's well over £10,000 you could invest that locally and earn more from that than you would from a pension. Remember if you die you will lose all contributions made but if you save them into a savings account then your family will inherit it.

Jeremy_W

Thanks for your advice.

I think i will invest it outside of the UK pension pot and take my chances elsewhere.

Regards,
Jeremy