Just to clarify, I have already qualified and bought back voluntary contributions at class 3, I have already transferred the guts of 11,000 euros to buy back those years, alot of money, and will be buying more in the future at 820 pounds per year.
However in the UK like here there is this speculation that a future government due to rising costs of state pension (even though you have paid your contributions for this) could be means tested.
I know this applies to everyone however it is one thing to have a benefit removed due to involuntary contributions from your wages, still highly controversial but it would be a real kick in the teeth for someone like me who has voluntary transferred a large sum of money to basically buy this benefit.
Surely some distinction or at least a reduced benefit would still have to be paid despite the potential future financial situation of a government. If governments were to renege on a universal benefit that most have paid contributions their entire working life it would undermine the whole social insurance system?
However in the UK like here there is this speculation that a future government due to rising costs of state pension (even though you have paid your contributions for this) could be means tested.
I know this applies to everyone however it is one thing to have a benefit removed due to involuntary contributions from your wages, still highly controversial but it would be a real kick in the teeth for someone like me who has voluntary transferred a large sum of money to basically buy this benefit.
Surely some distinction or at least a reduced benefit would still have to be paid despite the potential future financial situation of a government. If governments were to renege on a universal benefit that most have paid contributions their entire working life it would undermine the whole social insurance system?