State Pension Facts for British Expatriates

UK State Pension – Basic Facts for Expats

To achieve a full basic state pension you need to have achieved a certain number of qualifying years. A qualifying year is a year where one of the following applies:

• you have sufficient income to pay National Insurance Contributions
• you are treated as having paid National Insurance Contributions
• you are credited with enough National Insurance Contributions

If you are a man born after the 6th of April 1945 or a woman born after the 6th of April 1950, then you need to achieve a total of 30 qualifying years in order to achieve the full basic state pension.

For tax year 2011/2012, the full basic state pension will be GBP102.15 per week. This will increase annually by the highest of prices, earnings or 2.5 per cent (If you live in certain countries, then your pension will not increase when you start drawing it. Find out which countries are affected here).

If you have less than 30 qualifying years, your pension will be reduced on a pro rata basis. E.g. if you only had 15 years, you would get GBP51.08 per week (15/30 = 50% of GBP102.15).

Related posts:

  1. Obtaining a state pension forecast
  2. Making Voluntary National Insurance Contributions
  3. Making Up Missed Years
About these ads

Tags: , , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 89 other followers

%d bloggers like this: