The Lemon Fool

My son who had paid 8 years UK NI contributions before he emigrated to Australia about 10 years ago, has just asked me would it be worth him contributing at least 2 more years NI contributions in the UK in order to qualify for the minimum UK state pension (i.e. 10/35 years) when he reaches 68, or whatever the retirement age is when he gets there. Would he be right in thinking that it would be worth it? He does realise that whatever pension he did then receive would not increase each year because he now lives in Australia (with no intention to return).

I have also posted this question on the expat forum:

https://www.lemonfool.co.uk/viewtopic.p ... 53#p331053

At the moment he won't get anything. If he buys 2 years of NI it would cost circa £1500 one off payment.

10/35 x £175 x 52 = £ 2843 per year...for life.

Half a year to get payback...

monabri wrote:10/35 x £175 x 52 = £ 2843

Your calculator has a bug.

https://www.lemonfool.co.uk/viewtopic.p ... 53#p331110

mc2fool wrote:

monabri wrote:10/35 x £175 x 52 = £ 2843

Your calculator has a bug.

https://www.lemonfool.co.uk/viewtopic.p ... 53#p331110

For some reason I was entering 10/32 in the calculation and not 10/35 ... I blame incompetence.

monabri wrote:

mc2fool wrote: Your calculator has a bug.

https://www.lemonfool.co.uk/viewtopic.p ... 53#p331110

For some reason I was entering 10/32 in the calculation and not 10/35 ... I blame incompetence.

'S ok! It happens to all of us at times.