Voluntary National Insurance contributions.

[paulguitar]

Hi all, is there anyone here who can give some advice regarding the thread subject, please?

The situation is as follows….I am 47 and have effectively lived and worked outside of the UK since the year 1997. I have accessed my NI record online and I am missing contributions from the year 1997-1998 to now.

I am able to make up the missing years going back six years, however, it seems to me that I would be better off to simply start paying from now and paying yearly in arrears for the next 20 years until I am 67. As far as I can see this would give me £150 per week rather than the full potential of £164 per week if I were to voluntarily make up the shortfall completely.

I am I correct with these assumptions and if so, how do I go about paying NI annually in arrears?

Thank you very much in advance to anyone who can help with this.

[alfaspecial]

Not an expert on the subject but I suggest you ask the question here:
https://forums.moneysavingexpert.com/forumdisplay....

As a general rule it is better (cheaper) to pay 'older' arrears because 'the rate' increases each year.

How to pay
https://www.gov.uk/pay-voluntary-class-3-national-...

[Drumroll]

I would get it payed and done with. My reason for that is, what happens if for any reason you don't/can't make all the payments until you are 67?

[williaa68]

This might help. It is complicated!

https://www.royallondon.com/siteassets/site-docs/m...

[dingg]

Someone I know has taken the opposite viewpoint and has decided to not bother paying any nic since he started working overseas as he's gambling the oap is going to be means tested or hes going to be 70 plus before he gets paid it .

30 years is a long time.....

[paulguitar]

Thanks, everyone.