Hi, bit of a PSA for anyone who has worked in the UK for more than 3 years. You can buy back 15 years of pension contributions for a small amount, up until April of next year. Then it reduces to 8 years retrospectively.
From april on, you can also pay an amount to HMRC, and after 35 years of contiributions (15 you've bought retrospectively plus another 20 from now on), you will get the full UK state pension worth around 9k STG per year, tax free - including tax free in Ireland.
The amount you'll have to pay in annually may vary but it could be as low as 150 GBP per year for the next 20 years.
I didn't know any of this and only found out this week. Maybe it's advertised on this site, but not very well - as I never picked it up before. Hope it will help someone else.
Would act quickly though, the timelag between documentation may take up to 3-4 months so not long to meet the April deadline to get your 15 years retrospectively.
There are Irish companies which can assist in this process, don't want to advertise specifically any but google Irish, UK pension, buyback and you should find one.
From april on, you can also pay an amount to HMRC, and after 35 years of contiributions (15 you've bought retrospectively plus another 20 from now on), you will get the full UK state pension worth around 9k STG per year, tax free - including tax free in Ireland.
The amount you'll have to pay in annually may vary but it could be as low as 150 GBP per year for the next 20 years.
I didn't know any of this and only found out this week. Maybe it's advertised on this site, but not very well - as I never picked it up before. Hope it will help someone else.
Would act quickly though, the timelag between documentation may take up to 3-4 months so not long to meet the April deadline to get your 15 years retrospectively.
There are Irish companies which can assist in this process, don't want to advertise specifically any but google Irish, UK pension, buyback and you should find one.
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