Is it worth me paying 7 years worth of missing years?

vinyldude1210

I’ve read through the bumf about this over and over and still don’t know if it’s worth my while doing so, or not? 

I’m 50, no longer work and hopefully don’t intend to again and live overseas. 

To get the full £221.20 it says (the most I can get, it also says) I have to pay 7 years missing NI. As it stands I will receive £180.66 p/week. 

I’m not sure what Class of contributions is applicable to me. 

I tried to find an email for the Pension Fund Centre or whatever it’s called but couldn’t, so this is my last resort as I can’t ring from overseas due to extortionate call charges. 

Hopefully someone can give me a definitive answer as to what I should do, as it seems so ambiguous as to whether it’s worth doing, or not? 

I have a few incomplete years from the last few years as I stopped working July 2021. Incomplete years before this are obviously no longer valid as the cut-off date has been reached. 

Thanks in advance. 

p00hsticks

As you live abroad, you can e-mail the International Pension Centre with your query
International Pension Centre - GOV.UK

which class you can pay will I think depend on whether you were working immediately before and/or after moving abroad. 

vinyldude1210

p00hsticks said:

As you live abroad, you can e-mail the International Pension Centre with your query
International Pension Centre - GOV.UK

which class you can pay will I think depend on whether you were working immediately before and/or after moving abroad. 

Thanks. 

I’ve read the Gov.uk site doesn’t give specific advice and their responses seem quite generic, hopefully they won’t just redirect me to the Pension Fund Centre, but I will give them a go. 

pinnks

As you live abroad you need to send HMRC a form CF83.  This will enable them to decide whether you can pay the cheaper Class 2, or the normal Class 3.  The basic requirements are that you worked in the UK until immediately before you left and worked abroad for any week you want to pay a the Class 2 rate.  

vinyldude1210

pinnks said:

As you live abroad you need to send HMRC a form CF83.  This will enable them to decide whether you can pay the cheaper Class 2, or the normal Class 3.  The basic requirements are that you worked in the UK until immediately before you left and worked abroad for any week you want to pay a the Class 2 rate.  

For your information I stopped working approximately 5-6 weeks before I left. Haven’t  done any work abroad and don’t intend to. 

Thanks 

watervolume

It's possible to fill in CF83 online now rather than to send the form physically through the post.

Dazed_and_C0nfused

vinyldude1210 said:

I’ve read through the bumf about this over and over and still don’t know if it’s worth my while doing so, or not? 

I’m 50, no longer work and hopefully don’t intend to again and live overseas. 

To get the full £221.20 it says (the most I can get, it also says) I have to pay 7 years missing NI. As it stands I will receive £180.66 p/week. 

I’m not sure what Class of contributions is applicable to me. 

I tried to find an email for the Pension Fund Centre or whatever it’s called but couldn’t, so this is my last resort as I can’t ring from overseas due to extortionate call charges. 

Hopefully someone can give me a definitive answer as to what I should do, as it seems so ambiguous as to whether it’s worth doing, or not? 

I have a few incomplete years from the last few years as I stopped working July 2021. Incomplete years before this are obviously no longer valid as the cut-off date has been reached. 

Thanks in advance. 

You might also want to consider if the final year is worth buying, especially if, as seems likely, Class 3 is your only option.

Adding 6 post 2016 years will take you from £180.66 to £218.58/week.  The 7th and final year only adds the last £2.62/week so not quite as good a buy as the other years.  But if you live to 100+ still with doing 😉

vinyldude1210

Great replies, thank you. 

Will what I get not increase with inflation then in the years ahead? 

Dazed_and_C0nfused

vinyldude1210 said:

Great replies, thank you. 

Will what I get not increase with inflation then in the years ahead? 

Under current rules that would depend where you reside and I don't think you've mentioned that, just that it's overseas.

pinnks

vinyldude1210 said:

pinnks said:

As you live abroad you need to send HMRC a form CF83.  This will enable them to decide whether you can pay the cheaper Class 2, or the normal Class 3.  The basic requirements are that you worked in the UK until immediately before you left and worked abroad for any week you want to pay a the Class 2 rate.  

For your information I stopped working approximately 5-6 weeks before I left. Haven’t  done any work abroad and don’t intend to. 

Thanks 

You will still need to send a CF83 but the outcome will be that you will have to pay Class 3.

Marcon

vinyldude1210 said:

Great replies, thank you. 

Will what I get not increase with inflation then in the years ahead? 

Depends which country you are living in at the time. Google on the name of the country and the words 'UK state pension increases' to find out.