NI Top Up (UK Expat) - Worth it?

[Rich_AR]

I've lived away from the UK for almost 5 years now and not paid a bean in NI.

I currently have around 10 years of contributions, and with the current situaion, I need another 25 years of contributions in order to get the full state penion. I'm 32 years shy of retirement age. I've not got any plans to return to the UK, but I could still claim the pension if I am overseas.

So, it's looking at around 30 GBP per month for the next 25 years.

Any advise if this is a no brainer or are there better options?

[LC23]

https://www.gov.uk/state-pension-statement

Firstly you can obtain a pension forecast to see what your pension currently looks like. If the form hasn't changed since I last completed one you can also enter parameters such as paying voluntary NIC to see what impact this would have on your pension.

Secondly do bear in mind that if you are paying social security in another country you may be building up an entitlement to a state pension from that country.

Thirdly if you do decide to pay voluntary NIC you may actually be entitled to pay Class 2 rather than Class 3 which is much cheaper.

http://www.hmrc.gov.uk/ni/volcontr/whentop-up.htm#...

[caziques]

This really depends what country you are residing in, and what your long term intentions are.

Also take into account the great UK "frozen pensions" scandal for certain countries.

[Rich_AR]

Just spoke to HMRC and they will send me a NI statment in 10 days.

They said I can top up with Class 2 (cheaper) and Class 3 is more expensive, but gives the same pension at the end. So they recommend Class 2.

No pension here in Singapore under my current Visa. That will change when I become PR, but I don't believe there's any issues with dual pensions as such.

[Mattt]

I doubt the State Pension will exist when you and I retire.

[jinkster]

Mattt said:

I doubt the State Pension will exist when you and I retire.

Does that mean we will all get a refund