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Changes in Nat Ins

 
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scot47



Joined: 10 Jan 2003
Posts: 12305
Location: Ultima Thule

PostPosted: Mon Jan 14, 2013 5:15 pm    Post subject: Changes in Nat Ins Reply with quote

Check out the proposed changes in National Insurance. As I understand it, the propsed system will mean that you need 35 yearsof Nat Ins contributions to get a full State Retirement Pension. A tthe moment that is 30 years, although histotically it was 44.

If you have aprevious Nat Ins record it can be worth making voluntaryy payments while working abroad.

CHECK IT OUT
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Dedicated



Joined: 18 May 2007
Posts: 748
Location: UK

PostPosted: Mon Jan 14, 2013 11:42 pm    Post subject: Reply with quote

These changes in UK pension rights may only start from 2017 at the earliest. Instead of a basic pension of 107 GB pounds a week plus various means-tested top-ups now, recipients will get 144 GB pounds (probably over 160 GB pounds by then).

After 2017, people will have to work longer, making 35 years worth of NI contributions rather than 30 to qualify for the full pension. Anyone who has NOT paid NI for 10 years will not qualify for the new state pension at all.

Anyone who qualifies for the state pension before April 2017 will continue to receive their entitlement under the current system. So I guess you are alright, Scott.

www.bbc.co.uk/news/business-11619379
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scot47



Joined: 10 Jan 2003
Posts: 12305
Location: Ultima Thule

PostPosted: Tue Jan 15, 2013 8:51 am    Post subject: Reply with quote

I am okay - I get my Retirement Pension under the old rule. I posted here to alert currentcontributors to UK NI that thye may have to do 35 years not 30

I am constantly surprised at how many teaching overseas who do NOT pay NI.
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