State pension questions..

dbrick

Hi there,

Hope are you well.

I have used the HMRC state pension calculator and I will be entitled to the state pension in 2050. I have 10+ of contributions and still adding... the final weekly/monthly payout won't change from £221 a week if I understood correctly.

My spouse(married in 2023) had to look after the family, so I want to see if I can buy back some years on her NI contributions to boost her pension, but I have a few question about our situation:

- What happens if I die before reaching state pension age ? Is she entitled to any pension of mine or contributions even if I never started receiving it ? Is that money lost ?
- Anyone that bought back years to boost their spouse pension ?

- If I move country(e.g. Italy) and work there for another say 15 years, will I still entitled to the UK State pension and would that be a separate payment ? or am I forced to combine that with the Italian state pension and let the Italian burocracy handle both pensions in one payment ? No idea about the tax implications... I hope they wouldn't tax again the £221 weekly payment..

eskbanker

dbrick said:

I have used the HMRC state pension calculator and I will be entitled to the state pension in 2050. I have 10+ of contributions and still adding... the final weekly/monthly payout won't change from £221 a week if I understood correctly.
No, it'll increase annually according to the triple lock.

My spouse(married in 2023) had to look after the family, so I want to see if I can buy back some years on her NI contributions to boost her pension, but I have a few question about our situation:

- What happens if I die before reaching state pension age ? Is she entitled to any pension of mine or contributions even if I never started receiving it ? Is that money lost ?
She's unlikely to be entitled to claim anything from your state pension entitlement, no:

https://www.gov.uk/new-state-pension/inheriting-or-increasing-state-pension-from-a-spouse-or-civil-partner

- Anyone that bought back years to boost their spouse pension ?
Yes.

- If I move country(e.g. Italy) and work there for another say 15 years, will I still entitled to the UK State pension and would that be a separate payment ?
Yes to both.

https://www.gov.uk/new-state-pension/living-and-working-overseas

 or am I forced to combine that with the Italian state pension and let the Italian burocracy handle both pensions in one payment ?
No.

No idea about the tax implications... I hope they wouldn't tax again the £221 weekly payment..
It's taxable income but your actual tax liability will depend on a range of factors, and you shouldn't be taxed twice on it, unless things change significantly over those 26 years.

What pension entitlement has your spouse built up so far, as shown in her forecast?