UK womans pensions rebates

[Snowy79]

17 minutes ago, jimeve said:

I'm going to pay for the 5 years that I'm missing. the 5 years is going to cost me about 3k pounds. I worked it out that every month I will get just over 100 pounds

100x 12=1,200.    1,200x  10= 12,000 pounds in just 10 years if I live that long.

You can go on the Government Gateway and they'll tell you exactly how much you have to pay.  For me it was just over £800 per year for 4 yrs to get about £10 per week increase. Then as I have a military pension they'll tax my whole pension 20%.  I'll settle for having less of a pension and pay less tax, I don't live a rich life and grudge paying for something I get zero benefit from. 

[jimeve]

1 minute ago, Snowy79 said:

You can go on the Government Gateway and they'll tell you exactly how much you have to pay.  For me it was just over £800 per year for 4 yrs to get about £10 per week increase. Then as I have a military pension they'll tax my whole pension 20%.  I'll settle for having less of a pension and pay less tax, I don't live a rich life and grudge paying for something I get zero benefit from. 

I have, I missed the April 5 deadline and have to apply again for this year. I got a letter from works and pension dated April 2020.  

[hk blues]

16 hours ago, jimeve said:

I'm going to pay for the 5 years that I'm missing. the 5 years is going to cost me about 3k pounds. I worked it out that every month I will get just over 100 pounds

100x 12=1,200.    1,200x  10= 12,000 pounds in just 10 years if I live that long.

Definitely go ahead Jim.  At 3k you'll break even after about 2.5 years.  It's a no-brainer.

[hk blues]

15 hours ago, Snowy79 said:

You can go on the Government Gateway and they'll tell you exactly how much you have to pay.  For me it was just over £800 per year for 4 yrs to get about £10 per week increase. Then as I have a military pension they'll tax my whole pension 20%.  I'll settle for having less of a pension and pay less tax, I don't live a rich life and grudge paying for something I get zero benefit from. 

At £3k cost you'll take about 6 years to break even, maybe 8 years allowing for tax.  So, you'd need to make it to 75 before you start making "profit." 

For me, the payback was much shorter as I'm getting an extra £30 a week and no tax implication with Class 2 contributions at only £150 a year (for 14 years). I reckon I'll be in profit after about 18 months.

[expatuk2014]

With ref to this topic I am now getting 184 pounds a week and my wife gets 104 pounds a week ! Life is good