Personal Finance for Residents of Japan
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35 years currently for U.K. pension, but the amount you get is a fair bit higher than the Japanese state pension.halfmanhalfsenbei wrote: ↑Tue Aug 10, 2021 5:59 am Thanks for the advice. I will get onto the UK state pension ASAP.
So 21 years of contributions are needed to get the full UK pension amount? That sounds a lot more reasonable than the 40 in Japan. Is this correct?
Have you ever worked in the U.K.? Or been on benefits? I ask because one of the criteria to be accepted for voluntary payments is that you have already made 3 years of national insurance contributions. Assuming you were at school there, you will have been credited with 2 years, but will need an extra one. This form (page 9) should help you work out if you are eligible:halfmanhalfsenbei wrote: ↑Tue Aug 10, 2021 6:16 am OK got it thanks.
Is there a way to calculate what my UK pension would look like with X years of contributions?
If I were to start this year I will get to 25 years max.
Sadly no. It's 35 years for full UK state pension, minimum of 10 to qualify to receive a pension.halfmanhalfsenbei wrote: ↑Tue Aug 10, 2021 5:59 am So 21 years of contributions are needed to get the full UK pension amount? That sounds a lot more reasonable than the 40 in Japan. Is this correct?
I did go to school in the UK but came to Japan immediately after university so have very limited UK work history.Beaglehound wrote: ↑Tue Aug 10, 2021 6:34 amHave you ever worked in the U.K.? Or been on benefits? I ask because one of the criteria to be accepted for voluntary payments is that you have already made 3 years of national insurance contributions. Assuming you were at school there, you will have been credited with 2 years, but will need an extra one. This form (page 9) should help you work out if you are eligible:halfmanhalfsenbei wrote: ↑Tue Aug 10, 2021 6:16 am OK got it thanks.
Is there a way to calculate what my UK pension would look like with X years of contributions?
If I were to start this year I will get to 25 years max.
https://assets.publishing.service.gov.u ... _12_20.pdf
At the moment, full annual pension for 35 years of contributions is around £9400, so around £270 for each year of contributions. As a comparison a year of kokumin nenkin contributions gets you just under 20 000 yen annually.
Yes, probably best to fill in the form at the bottom of the link I posted before, send it off, wait for…ages, and they will tell you if you are eligible.halfmanhalfsenbei wrote: ↑Tue Aug 10, 2021 6:54 am I mean, doing part-time jobs as a student.
I do have months here and there of full time work history in the UK, but it's patchy.
I suppose they could easily see the extent of my past contributions if i were to apply to may further payments?
From my understanding, as long as you had an NI number, and had income over a number of years (regardless of whether you were a student or not), then it'll count as 'working' in the UK. If you were being paid in cash / no official taxation/NI contributions then you're likely out of luck.halfmanhalfsenbei wrote: ↑Tue Aug 10, 2021 6:54 am I mean, doing part-time jobs as a student.
I do have months here and there of full time work history in the UK, but it's patchy.
I suppose they could easily see the extent of my past contributions if i were to apply to may further payments?
Yes, for the OP it will depend if in particular tax years he paid enough in NI for the system to recognise it as a contributing year. This is opaque, to me anyway.JapaneseMike wrote: ↑Tue Aug 10, 2021 8:36 amFrom my understanding, as long as you had an NI number, and had income over a number of years (regardless of whether you were a student or not), then it'll count as 'working' in the UK. If you were being paid in cash / no official taxation/NI contributions then you're likely out of luck.halfmanhalfsenbei wrote: ↑Tue Aug 10, 2021 6:54 am I mean, doing part-time jobs as a student.
I do have months here and there of full time work history in the UK, but it's patchy.
I suppose they could easily see the extent of my past contributions if i were to apply to may further payments?
And the 35 years for the UK state pension will depend on your age. I think they've been shifting it upwards. I use the UK pension website and according to them I only need 32 years of contributions (25 down, 7 to go) (Not entitled until 2045 though)