chrisrich 5 Posted April 25, 2012 Share Posted April 25, 2012 Can any one give me any advice , I have worked here for nearley 42 years apart from two half years when I went back to the uk to live in 1979 and a year I spent living in canada . i have recently returned from the UK after spending 16 months there to decide if that is where i wanted to spend the rest of my life . After returning here I decided that is where I want to be . My wife and I are not eligible to receive the pension here because we are self funded retirees ,what i would like to know if any one can tell me is would it be worth me paying 42 years of national insurance for my wife and I so we are eligible to receive the UK pension ,and if so, does any one know how much 42 years would cost me . Also when i purchase a house in the UK can it be put in three names ( myself, my wife and our Daughter } to advoid death dutyies that they have in the uk . Link to comment Share on other sites More sharing options...
Petals Posted April 25, 2012 Share Posted April 25, 2012 We are self funded retirees here and we get a pension as well. It depends how you have set up your funds. If you have an allocated pension then you do not pay any tax on the funds you draw down and you get a part pension from centrelink as well. Plus the UK and in my case UK and NZ You can do it but you would have to be pretty certain you would be living a while :wink: http://www.direct.gov.uk/en/BritonsLivingAbroad/Moneyabroad/DG_4000013 Just like Centrelink here knows how much we get I guess the UK will know how much pension you are getting from Aus and reduce accordingly. Link to comment Share on other sites More sharing options...
chickibabes Posted April 25, 2012 Share Posted April 25, 2012 Hi Chrisrich, Not sure about national insurance or pensions ar anything, but with regards to the mortgage/house deeds, I think that you will be able to as many names on it as you like. I can't see why it would be a problem, but they may just make you take life insurance for each person, just in the event that one of you dies and then the mortgage is usually paid off by the insurance company. Hope this help. Danielle Link to comment Share on other sites More sharing options...
scuffythetugboat Posted April 25, 2012 Share Posted April 25, 2012 As far as I know you cannot back pay 42 years of NI. You can only go back 5 years I believe, so you would waste your money as you need at least 10 years of contributions to qualify for part of the pension. The Department of Work and Pensions website has all the info you need. Link to comment Share on other sites More sharing options...
Quoll Posted April 25, 2012 Share Posted April 25, 2012 I dont think you can repay the full amount for a UK pension - IIRC you can only repay up to 6 years of contributions Link to comment Share on other sites More sharing options...
Sydney Posted April 30, 2012 Share Posted April 30, 2012 Can any one give me any advice , I have worked here for nearley 42 years apart from two half years when I went back to the uk to live in 1979 and a year I spent living in canada . i have recently returned from the UK after spending 16 months there to decide if that is where i wanted to spend the rest of my life . After returning here I decided that is where I want to be . My wife and I are not eligible to receive the pension here because we are self funded retirees ,what i would like to know if any one can tell me is would it be worth me paying 42 years of national insurance for my wife and I so we are eligible to receive the UK pension ,and if so, does any one know how much 42 years would cost me . Also when i purchase a house in the UK can it be put in three names ( myself, my wife and our Daughter } to advoid death dutyies that they have in the uk . You can backdate a maximum of 12 years and need 30 years contributions for a full UK pension. Contact the British Pensioners Assoc In Aust, (they helped me a lot) for more info..............Syd. Link to comment Share on other sites More sharing options...
fizzybangs Posted May 3, 2012 Share Posted May 3, 2012 No, you cannot backpay all those years as other have advised. We have upgraded ours twice and I believe you need to do it before retirement age. You also have to live in Australia for two years prior to being able to claim an age pension here in Oz ie if you come back to Oz aged 63 then at 65 you could claim as usual but if you come back at 65 you would have to wait for another 2 years before being able to claim. Both countries like proof of residency ie you own a home here and not there whichever way around. It seems unfair to me that if you live in Oz you are asked to makle an application to UK to claim whatever pension is available (with your Oz pension being adjusted accordingly) but if you have worked for 30 years or so in Oz and leave for example at 63, you are totally unable to claim for an Aussie Aged Pension from UK! The Dept of Pensions have told us to give them our employment record here in Oz when we go back and they will take our working years here in Oz into account - I think they probably mean for the years between 1975-2001 because the reciprocal agreement was then in place. However, the cannot explain Part B pension as it is 'too complicated'! However, in all other matters it has been worth a phone call to Newcastle and they have phoned us twice in response to emails. Sydney's advice (above) to contact the British Pensioners Assn here in Oz is very good advice. Link to comment Share on other sites More sharing options...
Sydney Posted May 4, 2012 Share Posted May 4, 2012 Thanks for the additional information Fiz'. I managed to backdate 12 years no problem but I'm presently below retirement age. Message for those out is there to consider these things now rather than wait too long...........Syd Link to comment Share on other sites More sharing options...
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