Deadline to back pay U.K. state pension approaching

[Gareth]

Hi all

For those who want to back pay years on their U.K. state pension, you should be aware that at the moment, you can back pay all the way back to 2006. However, this arrangement will end on April the 5th 2023. From that point onwards, you will only be able to back pay 6 years.

So if you were planning to back pay more than six years, especially if you qualify for class 2, you should get cracking on it straight away.

More info here:
https://retirewiki.jp/wiki/United_Kingd ... te_Pension

If you read through the threads on this forum, you’ll see it can take several months to sort things out so it’s best not to leave it until the last minute.

Good luck!

[beanhead]

Good reminder.
Nice one!

[Roger Van Zant]

Hi all

For those who want to back pay years on their U.K. state pension, you should be aware that at the moment, you can back pay all the way back to 2006. However, this arrangement will end on April the 5th 2023. From that point onwards, you will only be able to back pay 6 years.

So if you were planning to back pay more than six years, especially if you qualify for class 2, you should get cracking on it straight away.

More info here:
https://retirewiki.jp/wiki/United_Kingd ... te_Pension

If you read through the threads on this forum, you’ll see it can take several months to sort things out so it’s best not to leave it until the last minute.

Good luck!

Thanks for the reminder.
I am currently on schedule to pay in 34 years.
Is it worth me back-paying the single missing year? Forgot the exact sum, but maybe 700 pounds or so?
Hmm....what to do?

[Beaglehound]

Hi all

For those who want to back pay years on their U.K. state pension, you should be aware that at the moment, you can back pay all the way back to 2006. However, this arrangement will end on April the 5th 2023. From that point onwards, you will only be able to back pay 6 years.

So if you were planning to back pay more than six years, especially if you qualify for class 2, you should get cracking on it straight away.

More info here:
https://retirewiki.jp/wiki/United_Kingd ... te_Pension

If you read through the threads on this forum, you’ll see it can take several months to sort things out so it’s best not to leave it until the last minute.

Good luck!

Thanks for the reminder.
I am currently on schedule to pay in 34 years.
Is it worth me back-paying the single missing year? Forgot the exact sum, but maybe 700 pounds or so?
Hmm....what to do?

That one year at current U.K. pension rates would get you around £275 a year in retirement, so yes it is worth it IMO though not a huge game changer.

[kuma]

I am currently on schedule to pay in 34 years.
Is it worth me back-paying the single missing year? Forgot the exact sum, but maybe 700 pounds or so?
Hmm....what to do?

That one year at current U.K. pension rates would get you around £275 a year in retirement, so yes it is worth it IMO though not a huge game changer.

Seconded.

[kuma]

Hi all

For those who want to back pay years on their U.K. state pension, you should be aware that at the moment, you can back pay all the way back to 2006. However, this arrangement will end on April the 5th 2023. From that point onwards, you will only be able to back pay 6 years.

So if you were planning to back pay more than six years, especially if you qualify for class 2, you should get cracking on it straight away.

More info here:
https://retirewiki.jp/wiki/United_Kingd ... te_Pension

If you read through the threads on this forum, you’ll see it can take several months to sort things out so it’s best not to leave it until the last minute.

Good luck!

A great and timely reminder!

Wondered if the following starting point might be useful for those considering voluntary contributions: 

• Do you want to receive ~£10,000 per year for life upon reaching UK state retirement age?

• Have you lived in the UK for at least three years at any point in the past but are outside the UK now?

• Do you have a National Insurance number?

If yes to all the above, then voluntary national insurance contributions could help you gain the qualifying years required to receive the full UK state pension (or an increased portion of it). 

If you were ordinarily employed or self employed in the UK immediately prior to departure and are now employed or self employed abroad, then you may qualify for super cheap Class 2 contributions whereby a qualifying year costs less than £200. If not, then qualifying years are via Class 3 contributions, at a rate of about £800 per year.

Act now if you can because of a unique opportunity to back pay missing years as far back as 2006. Ordinarily back payments are not possible outside of the most recent 6 years, but until 5th April 2023, people are eligible to back pay for gaps from 2006-2007 onwards. 

See https://retirewiki.jp/wiki/United_Kingd ... te_Pension and the RetireJapan forum for further information. As you'll discover, patience and persistence are useful for the process!

[ExpatScot]

For those of us already making voluntary contributions, but who have years they want to back-pay, what is the actual process for that? Just call HMRC? I don't see anything on the CF83 form addressing how to make back payments.

I'm sure that info is on the forum somewhere, but I'm having trouble locating it.

Cheers

[Wales4rugbyWC23]

For those of us already making voluntary contributions, but who have years they want to back-pay, what is the actual process for that? Just call HMRC? I don't see anything on the CF83 form addressing how to make back payments.

I'm sure that info is on the forum somewhere, but I'm having trouble locating it.

Cheers

Just send them a letter with your NI number and they can give you a forecast and any years unpaid and the price you have to pay. The reply will take a bit of time to come though.....

[ExpatScot]

For those of us already making voluntary contributions, but who have years they want to back-pay, what is the actual process for that? Just call HMRC? I don't see anything on the CF83 form addressing how to make back payments.

I'm sure that info is on the forum somewhere, but I'm having trouble locating it.

Cheers

Just send them a letter with your NI number and they can give you a forecast and any years unpaid and the price you have to pay. The reply will take a bit of time to come though.....

Great, seems easy enough. So even though we can already see much of that info on the HMRC website, we have to mail them a letter to get the official forecast and payment details?

[beanhead]

Great, seems easy enough. So even though we can already see much of that info on the HMRC website, we have to mail them a letter to get the official forecast and payment details?

Yes. It is covered on the wiki but they do a double-check now to make sure there is benefit for you to make additional payments. Snail mail and a bit slow, so get on it now while you can!