Worked in the UK 8 years, can I, and should I pay voluntary NI payments?

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tinymouse

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I'm a little fuzzy on this. I worked in the UK for 8 years, paying National Insurance payments, finishing in 2018. After that I spent 2 years self employed, not paying National Insurance. before moving to Ireland in 2020.

I understand that once 10 years of payments have been made, you're eligible for a reduced UK state pension. Below that, nothing.

Is it possible for me, after the fact to make voluntary contributions to bring me up to 10 years. Can I only pay them for time I was in the UK? Or could I in theory pay them up to today? I know you can make them up to 6 years ago.

Would making two years of extra payments to receive a UK pension be worthwhile? I still should have enough time to get a full Irish pension as well. Would receiving one from the UK have any impact on my Irish one?

And would there be any benefit to paying over 10 years?
 
You will be able to pay NI contributions, search the forum here, loads of threads about it. Getting a UK pension won't affect your Irish pension, you'll just pay any taxes due. Someone else with more knowledge than me will be able to fill in the gaps!
 
Thanks. Just realised I can look at the record in the HM Revenue and Customs website, and it turns out I had been paying NI while self employed. So I am in fact over 10 years, and there's 3 years I can contribute extra to as well.

From other threads, people say it's a no-brainer. It'll pay back in 3 years of receiving the pension. Is that still the case, when retirement is over 30 years away? Bearing in mind there's no tax relief on this. So to pay £2400 would be the equivalent of around €5000 towards a private Irish pension. In that timescale, which should the expected return be higher on?
 
I phoned HMRC, explained my circumstances, and they advised that I can keep paying class 2 National Insurance Contributions of £163.80 a year indefinitely while I'm employed full time in Ireland, and they would count fully towards a future UK pension. And wouldn't affect my Irish one at all.
This sounds too good to be true. Am I missing something?
 
tinymouse said:
I phoned HMRC, explained my circumstances, and they advised that I can keep paying class 2 National Insurance Contributions of £163.80 a year indefinitely while I'm employed full time in Ireland, and they would count fully towards a future UK pension. And wouldn't affect my Irish one at all.
This sounds too good to be true. Am I missing something?
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£163.80 is the Class 2 rate for 2022/23, it does increase ever so slightly each year into the future but as Coyote says, its a no brainer. I lived there for under 55 years back in the 90s and now with Class 2 contributions I have 18 qualifying years on my NI record and it is worth £86.80pw in state pension terms. I am no actuary but it is a phenomenal return
 
jfrank said:
£163.80 is the Class 2 rate for 2022/23, it does increase ever so slightly each year into the future but as Coyote says, its a no brainer. I lived there for under 55 years back in the 90s and now with Class 2 contributions I have 18 qualifying years on my NI record and it is worth £86.80pw in state pension terms. I am no actuary but it is a phenomenal return
Click to expand...
jfrank said:
55
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Whoops < 5years I meant!
 
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