Important News for British State Pensioners.
Pensioners who were born before 6
April 1951
(6 April 1953 for women) now have a limited period in which to
boost their
entitlement to their current state pension. They will be able
to buy
extra entitlements to their state pension of up to £1300 a
year, for life. This
will be achieved by making a lump sum payment in the form of
voluntary class 3A
NIC, between 12 October 2015 and 5 April 2017.
The exact amount that needs to be
paid to receive each
extra £1 per week of pension depends on the individual’s age
at the time they
make the payment. There is a table on page 5 of the state
pension top-up
factsheet, and an online calculator on Gov.uk to help with
this calculation.
The ability to top-up the state
pension may be
particularly useful for women who have taken breaks from
employment during
their working lives, and for the self-employed with similarly
patchy NIC
records. Married couples will need to decide which person
should make the
top-up payment, as an income will be paid to a surviving
spouse (or civil
partner) of at least 50% of the topped-up amount.
Note the paragraph about customers
(they mean
pensioners) living overseas on page 3 of the factsheet.
State pension
top-up factsheet
State pension
top-up calculator for class 3A contributions
The first
condition for the
top-up is that the pensioner must already be in receipt of a
UK state retirement pension.
To register an interest:
To register an interest:
email: paid.caxtonhouse@dwp.gsi.gov.uk
or
tel: 0345 6004270
It will be important to register an interest as there will be no doubt an online system to make the payment that may require a person to prove identity. That might be more tricky for someone who lives outside of the UK.
tel: 0345 6004270
It will be important to register an interest as there will be no doubt an online system to make the payment that may require a person to prove identity. That might be more tricky for someone who lives outside of the UK.
[Example
- A male at the age of 83 could pay £11,350. IF he lives 15
years he would receive back a total of £19,500 plus inflation
increases on top.
If his wife lives on, she would continue to receive at least 50% of the sum. The lump sum payable goes down as one ages and is also related to one's sex.]
Brian Cave
le Fourquet, Gourdon, 46300, France
-Votes
for
Britons
-http://votes-for-expat-brits.com
If his wife lives on, she would continue to receive at least 50% of the sum. The lump sum payable goes down as one ages and is also related to one's sex.]
Brian Cave
le Fourquet, Gourdon, 46300, France
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