Paying into UK State Pension from Jersey

Chantellesquandry

I was hoping someone could help me with this.  I have tried searching the forums but no sure what I should be searching for so everything is coming up with no results.

I recently heard via a third party that if you had worked in the UK you can continue to pay into a UK State Pension.  The details I have are sketchy - it costs something like £150 a year and it tops up your pension. You can also top of previous years but it is capped and you can only go back 6 years and there might have been a cut off date?
I moved to Jersey in my 30's and was in employment in the UK from ages 18 until I left.
Does anyone know more about this scheme or can point me in the right direction?

[Deleted User]

If you are not in employment you have to pay class 3s rather than class 2s, a lot more expensive
If you are in employment - fill in these forms otherwise fill in the class 3 forms
https://www.gov.uk/government/publications/social-security-abroad-ni38

Dazed_and_C0nfused

Should that be Class 3 rather than Class 4?

[Deleted User]

Dazed_and_C0nfused said:

Should that be Class 3 rather than Class 4?

Sorry yes - amended

Thrugelmir

Chantellesquandry said:

I moved to Jersey in my 30's and was in employment in the UK from ages 18 until I left.

Not ordinarily a UK resident with presumably no intention to return? 

molerat

Thrugelmir said:

Chantellesquandry said:

I moved to Jersey in my 30's and was in employment in the UK from ages 18 until I left.

Not ordinarily a UK resident with presumably no intention to return? 

The relevance being ......... ? (apart from a question of morality)

JoeCrystal

I was interested enough to have a look around on Jersey government website. They do have reciprocal agreements with the ​United Kingdom on NI contributions. If you are paying social security in Jersey, then there is no need to pay NI contributions since the contributions you paid while in the UK is treated as years in Jersey as well (I might be wrong though). Vice versa in the UK. Hmm...

Amazingly, it looks like they still allow access to the private pension scheme in Jersey from the age of 50 and potentially tax-free lump sum up to 33%, if I am reading them right.

Chantellesquandry

JoeCrystal said:

I was interested enough to have a look around on Jersey government website. They do have reciprocal agreements with the ​United Kingdom on NI contributions. If you are paying social security in Jersey, then there is no need to pay NI contributions since the contributions you paid while in the UK is treated as years in Jersey as well (I might be wrong though). Vice versa in the UK. Hmm...

Amazingly, it looks like they still allow access to the private pension scheme in Jersey from the age of 50 and potentially tax-free lump sum up to 33%, if I am reading them right.

They do have an agreement but apparently we can claim a separate pension from the UK.  Despite what the website says Jersey only pays on your contributions paid in Jersey and unfortunately never had the funds to pay into a private pension.  Cost of living in Jersey is higher than London!  Seriously considering returning when we retire.

xylophone

unfortunately never had the funds to pay into a private pension. 

But you did find this? https://forums.moneysavingexpert.com/discussion/6199366/opted-out-sometime-in-late-1980s-and-need-to-track-down-my-pension-as-left-uk/p2

Happy days I actually managed to find an original letter from 1998 with my policy number on and I did contract out of SERPS.  Thanks for everyone's feedback.  Hopefully I am now a millionaire!  

Have you checked on how  your pension is faring?

Did you obtain the state pension forecast?

https://www.google.com/search?q=state+pension+forecast+uk&oq=state+pension+forecast&aqs=chrome.2.69i57j69i59j0l6.8482j0j8&sourceid=chrome&ie=UTF-8

nigelbb

Chantellesquandry said:

I was hoping someone could help me with this.  I have tried searching the forums but no sure what I should be searching for so everything is coming up with no results.

I recently heard via a third party that if you had worked in the UK you can continue to pay into a UK State Pension.  The details I have are sketchy - it costs something like £150 a year and it tops up your pension. You can also top of previous years but it is capped and you can only go back 6 years and there might have been a cut off date?
I moved to Jersey in my 30's and was in employment in the UK from ages 18 until I left.
Does anyone know more about this scheme or can point me in the right direction?

It's all detailed in HMRC leaflet NI38 "Social Security abroad". If you were working in the UK for the 3 years prior to moving abroad & you are employed or self-employed there then you can pay Class 2 contributions at around £150 for each added year. Aside from buying a winning lottery ticket it is the best investment you will ever make. Each year is worth an annual pension of about £250. Given average life expectancy at retirement that's worth over £5,000.
https://www.gov.uk/government/publications/social-security-abroad-ni38

Check you pension forecast & see what years you can purchase
https://www.gov.uk/check-state-pension
It does depend how far off you are from pension age but if near you need to speak to the Future Pension Centre to confirm exactly which past years you should purchase to maximise your pension.
https://www.gov.uk/future-pension-centre

Chantellesquandry

xylophone said:

unfortunately never had the funds to pay into a private pension. 

But you did find this? https://forums.moneysavingexpert.com/discussion/6199366/opted-out-sometime-in-late-1980s-and-need-to-track-down-my-pension-as-left-uk/p2

Happy days I actually managed to find an original letter from 1998 with my policy number on and I did contract out of SERPS.  Thanks for everyone's feedback.  Hopefully I am now a millionaire!  

Have you checked on how  your pension is faring?

Did you obtain the state pension forecast?

https://www.google.com/search?q=state+pension+forecast+uk&oq=state+pension+forecast&aqs=chrome.2.69i57j69i59j0l6.8482j0j8&sourceid=chrome&ie=UTF-8

Yes I did find it! Thought I had updated that post!  Unfortunately I am not a millionaire but it wasn't dire - am moving funds into an RTS.  I need to track down my NI number.