Personal Finance for Residents of Japan
https://retirejapan.com/forum/
I hope not! My application is at HMRC castle now. I got a confirmation on the phone that I have 3 years of contributions, so I am hopeful. They may find a way to weasel out of it, however
9600 quid?! It only cost me 1300 quid to back pay, I think, eight years!SZQ wrote: ↑Tue Jul 13, 2021 9:49 amYeah, you're right I think. I have 13 years of contributions already (before I left) so I guess it does make sense to continue. I missed 12 years so that's ~£9600 I need to pay to catch up and then another ~£8000 to get the 35 years. I'm finally planning to buy a house/apartment this coming year and need to build a big enough down payment for that so considering the options and priorities.RetireJapan wrote: ↑Tue Jul 13, 2021 8:12 am I was not able to get approved for Class 2 contributions (I might have been able to by applying over and over again like some others have) but for me even the more expensive Class 3 are very much worth it.
The UK state pension will give you a much better return than nenkin or a private annuity, and provides good diversification.
I would recommend trying to find a way to make it worth if you can (sending in the application for Class 2 again might be worth trying too).
Good luck!
I will try one time to clarify with them regarding Class 2 just in case I did make a mistake, otherwise will settle for Class 3.
Thank you!
Yes - that seems very high! I was 1790 pounds for 2006 - 2018Roger Van Zant wrote: ↑Wed Jul 14, 2021 1:28 pm9600 quid?! It only cost me 1300 quid to back pay, I think, eight years!SZQ wrote: ↑Tue Jul 13, 2021 9:49 amYeah, you're right I think. I have 13 years of contributions already (before I left) so I guess it does make sense to continue. I missed 12 years so that's ~£9600 I need to pay to catch up and then another ~£8000 to get the 35 years. I'm finally planning to buy a house/apartment this coming year and need to build a big enough down payment for that so considering the options and priorities.RetireJapan wrote: ↑Tue Jul 13, 2021 8:12 am I was not able to get approved for Class 2 contributions (I might have been able to by applying over and over again like some others have) but for me even the more expensive Class 3 are very much worth it.
The UK state pension will give you a much better return than nenkin or a private annuity, and provides good diversification.
I would recommend trying to find a way to make it worth if you can (sending in the application for Class 2 again might be worth trying too).
Good luck!
I will try one time to clarify with them regarding Class 2 just in case I did make a mistake, otherwise will settle for Class 3.
Thank you!
Ah ok - must read more carefully! Are class 3s that much more?
Class 2 = 3GBP/week or sogoodandbadjapan wrote: ↑Thu Jul 15, 2021 2:00 am Ah ok - must read more carefully! Are class 3s that much more?
Not silly questions, there's a whole thread about the 2nd one:Onobori1980 wrote: ↑Wed Sep 08, 2021 1:55 pm -Question 12: Are you ordinarily resident in the UK?
Page 6 of the guidelines states ‘When you tell us your ‘ordinarily resident’ status you must base this on your circumstances at the time you left the UK’.
Taken at face value then this makes me ‘ordinarily resident’. But again, is this something that will adversely effect my application?
Sorry again for what I think are probably silly questions!
Excellent news. Good luck on your application. n your circumstances, sounds like voluntary NICs (including backpaying) could take your pension entitlement from 0 to about 1/3 of the full pension overnight (well, once accepted, and backpaid...). Persevere!A few years back a British colleague of mine suggested I look into making voluntary contributions and I’m finally getting around to thinking seriously about it.
I’ve read through this thread and found it very useful indeed. I have been in Japan since 2007, working full time the whole time. I was employed in the UK immediately prior to coming to Japan, and according to the portal it seems I have 6 years of contributions already in the system.
So although I might have a lengthy fight on my hands, I believe I should be eligible for the Class 2 NICs.
Sounds fine. My answer was 'Indefinitely'. You've been here long term, so I don't think an answer here would affect your eligibility for voluntary NICs in any case; I think this question is to weed out people who have just moved abroad but only intend to stay short term, in which case they may retain 'ordinarily resident' status, and not qualify for voluntary NICs and instead be liable for Class 1 NICs.-Question 11: How long do you intend to stay abroad
I have no idea how long I’ll be in Japan, but will writing ‘unknown at current time’ harm my application?
The form and guidance have some horribly worded portions. 'At the time you left the UK'... do they mean your status just before leaving, or immediately after leaving the UK? What were your circumstances in Japan immediately after leaving the UK? One-year contract, or longer? In any case, the proof seems to be in the pudding -- you've stayed and worked in Japan long term. I took the question to mean what were my circumstances immediately after leaving the UK... did I intend to continue to use the UK as a base for residency, and was my work abroad temporary, etc etc? A 'yes' here could steer an applicant towards Class 1 liabilities for the first year abroad (but only if the employer has a place of business in the UK... so such a poorly worded question for such a specific circumstance.)-Question 12: Are you ordinarily resident in the UK?
Page 6 of the guidelines states ‘When you tell us your ‘ordinarily resident’ status you must base this on your circumstances at the time you left the UK’.
Taken at face value then this makes me ‘ordinarily resident’. But again, is this something that will adversely effect my application?