Unfair aspect of the Top up state pension

Mancopinionated

Whilst I appreciate a lot of people will benefit of topping up their pension, I think there is a major caveat to this.
People who have moved from the UK abroad many years ago and are contributing to the new countries tax system and as a result will receive in some countries generous state pensions, why is it fair for them to buy lost years and then receive a generous pay out when they reach NPA. For £15K ish they buy back what 15/16 years and then receive between £400-500 a month at NPA for the next 20 years??? That's possible  £120K pension pot. 

I know someone who has not lived in UK for 25 years, has worked 10-15 years in Spain due a decent pension of over 1300 Euros, is paying to top up pension in the UK and will receive £600 a month at NPA for little cost.  That's almost 2000 euros a month and what they only worked 10-15 years in Spain and will eventually have bought back 17 years of  UK pension. 
 Not even my work pension over the years will give me such a great return and I have worked for 40 years, how is this fair !!!!!!!

Am I the only one who has this view. 

FairPlay to people abroad. Whilst I don't want to seem bitter, it the unfairness of it leaves a sour taste in my mouth.

The person in Spain, with low cost living will be living conformably whilst I will be struggling. 

Even if I didn't make the right financial decisions in life, surely still this is unfair.

Essentially the next gen taxpayer is paying the pension for someone who did not really contribute to British society, they did not pay tax for public services etc. 

Is this a fair comment???

Mancopinionated

...Surely the UK government should be making concessions for people who live in the UK and increasing the state pension for us, or offering us some programme for us to add to our pensions so we can afford fuel, food costs.
Why should people be living in UK struggling whilst the UK give money to people who have left and started a new life elsewhere. 

To be clear, I think it is a great scheme for UK residents but not for those who have been abroad for the last 10 years and over. Not fair

Devongardener

I believe that only 6 years missing contributions can be paid to boost the state pension, not 17.
It’s not unfair, if someone has paid enough contributions to qualify for the full state pension, there’s no reason why it should not be paid.
It’s not means tested so any other pension income is irrelevant, whether it’s a state pension from another country or a private pension.
If pensioners choose to live abroad the government are not going to track everyone’s movements.
They must have contributed to British society to have worked and paid NI in the UK, so that point is meaningless.
its a waste of your energy to be bitter about this.

pinnks

Devongardener said:

I believe that only 6 years missing contributions can be paid to boost the state pension, not 17.
It’s not unfair, if someone has paid enough contributions to qualify for the full state pension, there’s no reason why it should not be paid.
It’s not means tested so any other pension income is irrelevant, whether it’s a state pension from another country or a private pension.
If pensioners choose to live abroad the government are not going to track everyone’s movements.
They must have contributed to British society to have worked and paid NI in the UK, so that point is meaningless.
its a waste of your energy to be bitter about this.

Currently those living abroad can pay the same back years as anyone else, so 2006/07 onwards, subject to the usual caveats.  If they are working abroad for any week they wish to pay, they may qualify to pay Class 2 NI but otherwise it would be Class 3.  Personally, I don't have an issue with it, though the UK voluntary NI system is incredibly generous compared to other countries, even if paying Class 3.

Mancopinionated

Devongardener said:

I believe that only 6 years missing contributions can be paid to boost the state pension, not 17.
It’s not unfair, if someone has paid enough contributions to qualify for the full state pension, there’s no reason why it should not be paid.
It’s not means tested so any other pension income is irrelevant, whether it’s a state pension from another country or a private pension.
If pensioners choose to live abroad the government are not going to track everyone’s movements.
They must have contributed to British society to have worked and paid NI in the UK, so that point is meaningless.
its a waste of your energy to be bitter about this.

Yes it is def a waste of my energy being bitter about it, that is true. 
The person I know worked in the UK for 3 years. Personally, I don't think that's enough off a contribution.
And they can buy back years between 2006-2016 and additional is it 6 or 7 years. 

molerat

They can currently (until 5 April 2025) fill all years back to 2006-07 so 18 years for just over £3K which will pay them £113.76 per week.  There is now no justification for voluntary class 2 contributions.

pinnks

Mancopinionated said:

Devongardener said:

I believe that only 6 years missing contributions can be paid to boost the state pension, not 17.
It’s not unfair, if someone has paid enough contributions to qualify for the full state pension, there’s no reason why it should not be paid.
It’s not means tested so any other pension income is irrelevant, whether it’s a state pension from another country or a private pension.
If pensioners choose to live abroad the government are not going to track everyone’s movements.
They must have contributed to British society to have worked and paid NI in the UK, so that point is meaningless.
its a waste of your energy to be bitter about this.

Yes it is def a waste of my energy being bitter about it, that is true. 
The person I know worked in the UK for 3 years. Personally, I don't think that's enough off a contribution.
And they can buy back years between 2006-2016 and additional is it 6 or 7 years. 

As molerat says and, if they have periods in EU countries, that would get them past the UK's 10-year requirement anyway.
 

[Deleted User]

Bitterness and envy are very negative emotions. Why waste time comparing your situation to that of others? Rather concentrate on improving and enjoying the quality of your life.

You say in your first post that you may not have always made the best financial decisions in your life. That is not the fault or responsibility of other people, Do you want them to suffer in some way because things have perhaps not gone as well for you as you and expected or hoped?

The other person decided it was in their best financial interests to pay the NI voluntary payments to improve their retirement income. They have done nothing wrong. If you had been in their situation you may have made the same choice. 

Comparing yourself to others is nearly always unhealthy.

Most of my friends have much larger retirement incomes and savings than myself. Does it worry me? No! We all made our career and relationship choices. I decided to remain single and follow a career I loved even though it paid  less.  My choice. I have no regrets.

I am grateful that I am retired with enough to live my lifestyle and in good health. Time for you to let the bitterness go. Use the energy to live your best possible life.

Best wishes 

Mancopinionated

[Deleted User] said:

Bitterness and envy are very negative emotions. Why waste time comparing your situation to that of others? Rather concentrate on improving and enjoying the quality of your life.

You say in your first post that you may not have always made the best financial decisions in your life. That is not the fault or responsibility of other people, Do you want them to suffer in some way because things have perhaps not gone as well for you as you and expected or hoped?

The other person decided it was in their best financial interests to pay the NI voluntary payments to improve their retirement income. They have done nothing wrong. If you had been in their situation you may have made the same choice. 

Comparing yourself to others is nearly always unhealthy.

Most of my friends have much larger retirement incomes and savings than myself. Does it worry me? No! We all made our career and relationship choices. I decided to remain single and follow a career I loved even though it paid a less.  My choice. I have no regrets.

I am grateful that I am retired with enough to live my lifestyle and in good health. Time for you to let the bitterness go. Use the energy to live your best possible life.

Best wishes

Yes, if I had the opportunity to claim that as a pension I would to.  And, I do not have the problem with people abroad claiming those monies. 
I was just merely exploring whether I was the only one who thought it was an unfair system. And, because I have to work harder to have a similar benefit it did make me feel negative.
But agreed I am working through my negativity about this situation and trying to find positive solutions.