uk voluntary NI contributions
uk voluntary NI contributions
I am sure that this has been addressed beofre, but I can not find the information. I work as selfemployed in UK paying tax and NI annually, do I need to keep paying my voluntary contibutions of 26 pounds per quarter?
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Depends on your age and the number of years contributions you have built up.
The government has proposed legislation, which looks like it will reach the statute book, that to qualify for full pension you only need 30 years contributions. If you have that already, you can stop paying. If not, sorry, you will have to pay if you want the full pension.
Alan
The government has proposed legislation, which looks like it will reach the statute book, that to qualify for full pension you only need 30 years contributions. If you have that already, you can stop paying. If not, sorry, you will have to pay if you want the full pension.
Alan
Remember that everything that Fred Astaire did, Ginger Rogers did too; except she did it backwards and wearing high heels!
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Class 2 contributions are for self-employed persons and are currently £27.30 per quarter.
Class 3 (Voluntary) contributions are currently £7.55 per week - £98.15 a quarter.
The government website calls both class 2 & class 3 contributions voluntary perhaps that is where pilgrim is taking the word voluntary from.
Q4: How much are voluntary Class 2 and 3 National Insurance Contributions?
A4: You can get the rates of Class 2 and 3 National Insurance Contributions here. http://www.hmrc.gov.uk/rates/nic.htm
Q5: How can I pay my National Insurance contributions?
A5: There are various methods of payment available. To see which method suits you please read pages 16 to 18 in the leaflet NI38 (PDF 1.2MB).
Q6: What benefits do I get from paying my National Insurance Contributions?
A6: To see what benefits you are entitled to please read page 10 of leaflet NI38 (PDF 1.2MB).
Q7: I am going abroad and would like to know more information about National Insurance Contributions. What do I need to know or read?
A7: Your National Insurance position depends on the circumstances of your departure from the UK and the country where you are going. To learn more about your National Insurance position while you are abroad please visit HMRC Residency pages.
Q8: Do I need to pay voluntary National Insurance Contributions while abroad?
A8: There have been important changes to the State Pension so before deciding whether or not to pay voluntary National Insurance Contributions we recommend that you visit the following website address for more information www.dwp.gov.uk/pensionsreform. If after visiting this website you still wish to pay voluntary National Insurance Contributions you can do so via leaflet NI38 (PDF 1.2MB).
Class 3 (Voluntary) contributions are currently £7.55 per week - £98.15 a quarter.
The government website calls both class 2 & class 3 contributions voluntary perhaps that is where pilgrim is taking the word voluntary from.
Q4: How much are voluntary Class 2 and 3 National Insurance Contributions?
A4: You can get the rates of Class 2 and 3 National Insurance Contributions here. http://www.hmrc.gov.uk/rates/nic.htm
Q5: How can I pay my National Insurance contributions?
A5: There are various methods of payment available. To see which method suits you please read pages 16 to 18 in the leaflet NI38 (PDF 1.2MB).
Q6: What benefits do I get from paying my National Insurance Contributions?
A6: To see what benefits you are entitled to please read page 10 of leaflet NI38 (PDF 1.2MB).
Q7: I am going abroad and would like to know more information about National Insurance Contributions. What do I need to know or read?
A7: Your National Insurance position depends on the circumstances of your departure from the UK and the country where you are going. To learn more about your National Insurance position while you are abroad please visit HMRC Residency pages.
Q8: Do I need to pay voluntary National Insurance Contributions while abroad?
A8: There have been important changes to the State Pension so before deciding whether or not to pay voluntary National Insurance Contributions we recommend that you visit the following website address for more information www.dwp.gov.uk/pensionsreform. If after visiting this website you still wish to pay voluntary National Insurance Contributions you can do so via leaflet NI38 (PDF 1.2MB).
Does anyone know if i Should keep paying my national insurance contributions whilst livin ghere? I was self employed in the UK and just moved out here but somebody mentioned to keep paying my NI contributions as this will still enable me to use the UK healthcare, anyone know if this is true? or what the benefits are of me keep paying it?
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The proposal to reduce the contribution years to 30 is only a proposal.
A lot could change, including the government, before this happens - if ever.
If you are likely to have a pension shortfall the best thing to do is to delay paying the voluntary contributions and hope that the situation is clarified before your deadline to pay them runs out.
Currently you can pay these contributions up to 6 years in arrears.
Sid
A lot could change, including the government, before this happens - if ever.
If you are likely to have a pension shortfall the best thing to do is to delay paying the voluntary contributions and hope that the situation is clarified before your deadline to pay them runs out.
Currently you can pay these contributions up to 6 years in arrears.
Sid
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Agreed, but it is extremely likely to happen, particularly as all political parties suport it. Any party that vetoes it is likely to lose the support of large numbers of women.The proposal to reduce the contribution years to 30 is only a proposal.
A lot could change, including the government, before this happens - if ever.
Given the liklihood of change, and the fact that you can pay arrears for up to 6 years, anyone who has over 30 years contributions would be daft (in my view) to continue paying.
Alan
Alan
Remember that everything that Fred Astaire did, Ginger Rogers did too; except she did it backwards and wearing high heels!
ni contributions
When I left UK I cut all my contributions, I have paid into the NI for 39 years and after I had a forecast took the decision to stop payment, however as the early respondent says I have 6 yrs to buy back if I decide.
If you are living and working in Spain , yet you feel you can afford to pay UK NI then pay it I guess.
Health wise you get 2 years I believe or register at a relatives or friends house as living there in the UK and you will remain on the NHS but not sure if this is a good or lawful thing to do, although I have heard some people do it as they do not register as resident in Spain.
If you are living and working in Spain , yet you feel you can afford to pay UK NI then pay it I guess.
Health wise you get 2 years I believe or register at a relatives or friends house as living there in the UK and you will remain on the NHS but not sure if this is a good or lawful thing to do, although I have heard some people do it as they do not register as resident in Spain.
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