UK state pension

vswr

so… I'm mid process, in the UK close to 8 years… no sign of going back to Ireland yet, but would like to…

Do I just need keep payments up whenever I get back ?

How many years do I need in Ireland to get an Irish pension?

Or that possible to have both?

Technique

40 years of payments to get the maximum Irish contributory pension, with a minimum of ten years of payments to qualify. E.g if you have twenty years you'll get 50% of the contributory pension. You could also add your contributions from the two countries to get the full Irish pension if you return to live in Ireland.

Best bet may be to top up the UK pension at the reduced rate to get full UK pension and then work here for minimum of ten years to get a proportion of the Irish pension as well.

vswr

https://www.boards.ie/discussion/comment/122109665#Comment_122109665

thank you, does that 10 years need to be concurrent, or could my early years working in Ireland contribute to the qualifying year amount?

Technique

I believe that they will count. Got a statement of my contributions last week and they counted two years that I worked in Ireland in the late 1980s before working in the UK for 30 years.

SouthWesterly

I paid £800 odd per year for 4 years to bring me to the 10 year minimum contribution.

What's the difference with that and the lower rate. I got a letter this week to say I should continue paying and if I don't contribute in the next 2 years I won't get any further reminder

Technique

Are you living in the UK? I believe the lower rate is for people who who have worked in the UK but now live overseas.

SouthWesterly

I'm in Ireland and have been for 30 years.

vswr

https://www.boards.ie/discussion/comment/122109732#Comment_122109732

thanks for the info !

beachhead

A qualifying year for the Irish pension requires 48 weeks contributions each year minimum over 40 years to get the full pension payment as far as I know.The DSP have 2 methods to calculate a payment and the promise to use the method that gives the highest payment. citizensinformation.ie or gov.ie can provide precise info.

Peckham

https://www.boards.ie/discussion/comment/122110024#Comment_122110024

If you've been working during that time you should be paying the lower amount for the years you were working. There are a few other eligibility criteria too.

Big difference - lower rate is around 160 pounds per year.

If eligible, you need to submit a CF83 form.

SouthWesterly

https://www.boards.ie/discussion/comment/122110682#Comment_122110682

I applied last year and they came back with a circa £850 per year.

Peckham

To be eligible for the lower amount I think you need to have been working up to the point that you left the UK AND be in employment in Ireland.

If you meet these criteria it's no harm in appealing the decision.

RCSATELLITES

Just received a letter today in the post for the last tax year 2023 / 2024. £179.40 class 2 for the year. Happy days.

Will add that to the other 7 years I need to pay and it's coming in at around €1,500 for 8 years, not bad.

That will give me 12 years in total. And I could just stop now and I would still get around £75 a week when retired.

The Continental Op

https://www.boards.ie/discussion/comment/122110943#Comment_122110943

My understanding is if you are self employed you pay the lower rate and the higher rate if you work for an employer.

Peckham

https://www.boards.ie/discussion/comment/122113347#Comment_122113347

That's if you live in the UK, I think.

If overseas you pay the lower amount so long as you're in employment. I've been an employee since returning from the UK in 2005 and am eligible for the lower rate for every year since then.

SouthWesterly

Ill have to check out our and give them a call.

Jakey Rolling

https://www.boards.ie/discussion/comment/122097865#Comment_122097865

I'm about to do the same - when you say Revolut GBP account, do you mean the sub-account they automatically create when you exchange EUR to GBP? Did you then use the BIC/IBAN or the Sort Code/Account (they point to 2 different HMRC accounts)?

I have 24 yearscontributions, plan to buy last 5 years Class 2, and have the ongoing Class 2 set up so just need another 6 years for full pension. The amount for 2023-24 was £179.

SouthWesterly

https://www.boards.ie/discussion/comment/122115354#Comment_122115354

You do it as a domestic transfer on revolut

sundodger5

When you tell the revolut app it is a uk bank it defaults to sort code and account as the input.

OfflerCrocGod

I have two accounts on Revolut, one € and one £. I originally set it up in the UK so maybe my £ was my original main one.

Widows Son

Has anyone here had their pension forecast updated after making a payment,and how long did it take?

The Continental Op

https://www.boards.ie/discussion/comment/122188201#Comment_122188201

Must check exactly when I paid (bank transfer online) but it must be over a month with no update.

Edit> Paid 17th April so over 6 weeks and just checked that my pension forecast hasn't been updated yet.

btw anyone setting up a login for Gov.uk you don't need a mobile number for an SMS. If you put in an international landline number the system will recognise that and call you back with a voice message.

OfflerCrocGod

My DD hasn't been taken since I sent in my payment. Very odd altogether. Has anyone else had the same happen to them?

Widows Son

https://www.boards.ie/discussion/comment/122188373#Comment_122188373

I made a bank transfer 12 weeks ago and no change in forecast yet.

The Continental Op

https://www.boards.ie/discussion/comment/122188573#Comment_122188573

I'm going to leave it 9 weeks then call them. I was told when I called HMRC to get my reference number (you don't need to its your NI no + IC + surname padded if needed at the end with initials to make it to make it the full length of the banks reference) that it could take 2 months to update.

Edit> Re reference number

https://moneyforums.citywire.com/yaf_postst16066_GUIDE--Time-Critical---State-Pension-and-National-Insurance-Top-up.aspx

You MUST include a payment reference number so Hmrc can match the payments to your Ni record. The reference number with your bank payment is either the 18 digit code you received above from the Future Pension Centre or Pension Service or alternatively your Ni number followed by 'IC' then your Surname and first name initial. Ie JS2873BICBLOGGSJ. Fit in as much as you can if running over the bank limits for reference numbers.

RCSATELLITES

I thought we had until April 2025 to pay. Why are people paying so early, for it to just sit there and earn nothing. I am holding off until next year to pay, while earning 4% interest. Considering it's only around €200 for the year I will have half ready from interest.

That's my thinking of it, I suppose other people just want to get it over and done with.

The Continental Op

https://www.boards.ie/discussion/comment/122188677#Comment_122188677

Well you'd have had fcuk all with that attitude as you didn't have to till April 2025 originally. The cut of date was November 2023 (iirc) and it was extended because of the backlog.

RCSATELLITES

https://www.boards.ie/discussion/comment/122188756#Comment_122188756

"With that attitude" who do you think you are talking to. No need to be swearing either.

At the moment the situation presents itself like that. The past is nothing to go by.

Good luck.

The Continental Op

https://www.boards.ie/discussion/comment/122188775#Comment_122188775

If you hadn't applied originally before Nov 2023 then you were just lucky it was extended.

RCSATELLITES

https://www.boards.ie/discussion/comment/122188817#Comment_122188817

I applied in Feb 2023 if you read back through the comments. It's not my fault they took nearly a year to send me the details which clearly states I have until April 2025 to pay without penalty. In that situation it doesn't make sense for me to pay now. I will also be paying for last year 2023 and 2024. Which only arrived a few weeks ago.