Despite what it seems, whether you can pay class 2 or not is pretty clearly defined.
Despite the bit about ‘Immediately before going abroad, you were ordinarily an employed or self-employed earner in the UK’, I was unemployed for 5 weeks before I came here (and told them) but I could still pay Class 2. That was back in 2005, though. When the weekly pension was £79.60. Next: £221.20 (¥183k pm). Yeah, Triple Lock! Good luck!
Voluntary UK pension contribution
Re: Voluntary UK pension contribution
I think this definition of ordinarily employed is a bit vague, isn't it? That is why many people are not sure if they qualify for class 2 or class 3.banders wrote: ↑Sat Mar 30, 2024 8:04 am Despite what it seems, whether you can pay class 2 or not is pretty clearly defined.
Despite the bit about ‘Immediately before going abroad, you were ordinarily an employed or self-employed earner in the UK’
I had a summer job before leaving so was working close to full-time hours, but only for a relatively short time. That was enough for the HMRC, thankfully.
Aiming to retire at 60 and live for a while longer. 95% index funds (eMaxis Slim etc), 5% Japanese dividend stocks.
Re: Voluntary UK pension contribution
Maybe, but I was offered Class 2 on a plate. I didn't have to fight for it. I guess the OP will know when the time comes.
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Re: Voluntary UK pension contribution
The thing I’m really struggling with is making the payments. I got a letter telling how much I owe for each year that I have missed and I that I can make payments for those years from the site they list.
Turns out I can’t do that because I don’t live in England. Apparently expats have to add up the payments they want to make, and just make a bank transfer listing their special HMRC reference.
I really don’t like the sound of this. Am I the only person wondering why they don’t have an option to make payments for specific years online?
Turns out I can’t do that because I don’t live in England. Apparently expats have to add up the payments they want to make, and just make a bank transfer listing their special HMRC reference.
I really don’t like the sound of this. Am I the only person wondering why they don’t have an option to make payments for specific years online?
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Re: Voluntary UK pension contribution
You can always pay by cheque- I have been doing that for the last twenty years.Adamakin86 wrote: ↑Wed Apr 17, 2024 12:23 pm The thing I’m really struggling with is making the payments. I got a letter telling how much I owe for each year that I have missed and I that I can make payments for those years from the site they list.
Turns out I can’t do that because I don’t live in England. Apparently expats have to add up the payments they want to make, and just make a bank transfer listing their special HMRC reference.
I really don’t like the sound of this. Am I the only person wondering why they don’t have an option to make payments for specific years online?
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Re: Voluntary UK pension contribution
Of that 183k per month, how much do you reckon to be getting net after taxes?banders wrote: ↑Sat Mar 30, 2024 8:04 am Despite what it seems, whether you can pay class 2 or not is pretty clearly defined.
Despite the bit about ‘Immediately before going abroad, you were ordinarily an employed or self-employed earner in the UK’, I was unemployed for 5 weeks before I came here (and told them) but I could still pay Class 2. That was back in 2005, though. When the weekly pension was £79.60. Next: £221.20 (¥183k pm). Yeah, Triple Lock! Good luck!
Investments:
Company DB scheme ✓
iDeCo (Monex) eMaxis Slim All Country ✓
新NISA (SBI) eMaxis Slim All Country ✓
Japanese pension (kosei nenkin) ✓
UK pension (Class 2 payer) ✓
Company DB scheme ✓
iDeCo (Monex) eMaxis Slim All Country ✓
新NISA (SBI) eMaxis Slim All Country ✓
Japanese pension (kosei nenkin) ✓
UK pension (Class 2 payer) ✓
Re: Voluntary UK pension contribution
I have no idea when it comes to tax. Maybe someone else can give a ball park?Roger Van Zant wrote: ↑Tue Apr 23, 2024 6:34 am Of that 183k per month, how much do you reckon to be getting net after taxes?
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Re: Voluntary UK pension contribution
Looks like UK state pension is not taxed in the UK for non-residents.
So Japanese income taxes. I'm guessing it would qualify for the nenkin deduction.
So Japanese income taxes. I'm guessing it would qualify for the nenkin deduction.
English teacher and writer. RetireJapan founder. Avid reader.
eMaxis Slim Shady
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Re: Voluntary UK pension contribution
This doesn't merit a new thread.
But I just realised that I might need to be employed or self-employed to legitimately make voluntary Class 2 contributions.
Is that correct?
Theoretically, if I was funemployed or otherwise a non-productive member of society(more than usual) I'd need to switch to Class 3 or even stop making voluntary contributions completely?!?
(I say theoretically as I'm confident I have the requisite morale flexibility to fly through a CIA psych assessment and head straight to sniper school*..
But it's often worth noting what rule I'm about to break. At least so I can practice feigning ignorance when caught..)
Above is based on this article
https://retirewiki.jp/wiki/United_Kingdom
That page is so good HMRC must be fuming at the lack of ambiguity and contradictions in it..
* I'm the reason they have chains on the air guns at Fun Fairs..
But I just realised that I might need to be employed or self-employed to legitimately make voluntary Class 2 contributions.
Is that correct?
Theoretically, if I was funemployed or otherwise a non-productive member of society(more than usual) I'd need to switch to Class 3 or even stop making voluntary contributions completely?!?
(I say theoretically as I'm confident I have the requisite morale flexibility to fly through a CIA psych assessment and head straight to sniper school*..
But it's often worth noting what rule I'm about to break. At least so I can practice feigning ignorance when caught..)
Above is based on this article
https://retirewiki.jp/wiki/United_Kingdom
That page is so good HMRC must be fuming at the lack of ambiguity and contradictions in it..
* I'm the reason they have chains on the air guns at Fun Fairs..
— Funemployment commencing in Sept 2025 —
Re: Voluntary UK pension contribution
The neverending conundrum.
Here's an interesting quote:
That seems to imply that once on Class 2, you can stay on it. Probably better not to ask too many questions...https://www.gov.uk/voluntary-national-insurance-contributions/who-can-pay-voluntary-contributions wrote: To pay Class 2 voluntary contributions [...] the following must also apply:
- [...]
- you’re currently working abroad (or you worked while you were abroad)