Should I pay National Insurance? To get state pension

Brit_in_Denmark

Should I make voluntary National Insurance Contributions?

I was born in 1981 in the UK and worked for a while, but for the past few years I have been living and working in Denmark.

This means I have only made 7 years of National Insurance contributions, and I need 10 to qualify for state pension.

It is very unlikely that I will return to the UK.

The voluntary contributions are 780 quid per year, and I was thinking to make 3 x 780 voluntary contributions to take me up to the 10 year mark.

Would I still be able to collect my state pension even if I lived abroad?

McKneff

What makes you think you only need 1o years contributions....
You need to keep paying them tgroughout your life. At the moment people need 35 years to qualify for a full pension.

There probably will not be a state pension when you are in your 60s or 70s

Silvertabby

McKneff wrote: »

What makes you think you only need 1o years contributions....
You need to keep paying them tgroughout your life. At the moment people need 35 years to qualify for a full pension.

There probably will not be a state pension when you are in your 60s or 70s

You need a minimum of 10 years to get any State pension. It wouldn't be the full single tier pension - it would be a pro-rata amount.

No idea if OP can pay the extra 3 years though.

atush

McKneff wrote: »

What makes you think you only need 1o years contributions....
You need to keep paying them tgroughout your life. At the moment people need 35 years to qualify for a full pension.

There probably will not be a state pension when you are in your 60s or 70s

rubbish. there will be

atush

Contact DWP and see if you can pay voluntary contributions.

How much SP have you built up in the Danish system?

xylophone

https://www.gov.uk/voluntary-national-insurance-contributions

https://europa.eu/youreurope/citizens/work/retire-abroad/state-pensions-abroad/index_en.htm

Terron

Given that after two years of payment you would be in profit (even allowing for inflation) It seems a good investment if you have the money to spare to be locked up until SPA,

Asghar

Terron wrote: »

Given that after two years of payment you would be in profit (even allowing for inflation) It seems a good investment if you have the money to spare to be locked up until SPA,

The OP would be in profit by the end of the first year.

Paying for the extra 3 years to make the minimum 10, would mean going from £0 to around £48 a week.

jem16

Brit_in_Denmark wrote: »

This means I have only made 7 years of National Insurance contributions, and I need 10 to qualify for state pension.

If you have made at least 3 years contributions into the Danish system, that will fulfil your 10 year minimum eligibility here in the UK. If that is the case then your pension would be 7/35ths of the full nSP assuming you weren't contracted out in the UK.

colsten

jem16 wrote: »

If you have made at least 3 years contributions into the Danish system, that will fulfil your 10 year minimum eligibility here in the UK. If that is the case then your pension would be 7/35ths of the full nSP assuming you weren't contracted out in the UK.

All that could change with Brexit.

bostonerimus

I left the UK in 1987 with just four NI years and decided to pay voluntary NI. I've done that for the last 31 years and now I'm all paid up and will get the full amount of the new state pension. I'm glad I decided to keep paying in. It's your decision whether you want to do the same as me, but it worked out very well for me.