living cost

[Michael Parnham]

Yes, as it stands right now you can buy-back any missing years.
You can't 'forward buy' contributing years. But you can continue to make necessary voluntary NI payments.



But when the new 'flat-rate' pension comes into force 2016 then all regulations get changed. The detailed changes behind minimum contributing years eligibility has not been declared.
What I'm saying is this, currently Full State Pension eligibility is based on 30 contributing years. Period.
If you have paid say 1 year then you qualify for 1/30th of state pension.
If you have paid 10 years then you qualify for 10/30th of state pension.

Once that 'flat-rate' pension is introduced 2016 the minimum number of qualifying years eligibility for a Full State Pension increases to 35 years.
The Minimum number of years needed to qualify for any payment at all is not known but has been suggested to be 11 years.
So anyone who has paid 5 years contribution with no missing years cannot buy-back missing years upon leaving UK. There are no missing years.
But of course there is still a possibility to make voluntary payments from abroad in 'real time' ........ Maybe... there has been talk of dispensing with such payments and allowing only payments for contributions missed upon returning to the UK.

So many unknowns still about the new state pension scheme..... disgraceful really as it will be implemented 2016.

I'm not one of those folks who will 'qualify' for the new 'Flat Rate' scheme anyway.

When the flat rate pension is introduced 2016, how will it affect my present pension ? because my pension includes SERPS That at present gives me £145.74 per week!

[Terpe]

When the flat rate pension is introduced 2016, how will it affect my present pension ? because my pension includes SERPS That at present gives me £145.74 per week!

Tiger, if you are in payment of State Pension when the new Flat-Rate is implemented then you won't be included. Period.
Means you'll stay as you are. The 2016 Flat-Rate pension payments will only apply to those folks who are eligible for state pension after implementation date.
It's not allowed to defer payments either.
The £144 is based on today's money. It'll be different when 2016 come around.

The other nitty gritty details are yet to be confirmed.