I’ve pretty much ignored all pension thoughts but as I near my next big birthday its becoming more of an issue I need to look at. I was pleasantly surprised how many trimesters or whatever they call them here that I have, I think around 50% of total with over a decade to go. I have heard a lot of you over the years mentioning topping up your UK pensions so you can get a full one. Is this something that you can do in France does anyone know?
Madame is doing this. She paid a few missing years and is now paying a certain amount each quarter (IIRC). It was straightforward: you just look at your NI recortd and select the appropriate next step(s).
We reckon it’s well worth doing.
Is that UK or France?
We’re in France. It’s the UK pension we’re topping up.
Yes that’s what I thought you meant! I’m wanting to look at topping up my French pension. I only worked in the UK for a year or so so guess I’m due nothing there!
The French rachat de trimestres works for some people, but mostly it is considered an ineffective pension investment, as the return on the investment is low compared to say buying property (to rent or otherwise). That said, each person’s needs are different.
Possible for some, but only up to 12 trimestres:
Je souhaite acheter des trimestres et des points de retraite"
However if you have a teeny, tiny UK entitlement then look into topping it up to at least 10 years worth. Under 10 years I believe the UK government think you you are giving them a nice gift
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You’d be surprised. Your UK and EU pension years are aggregated. It’s all incredibly complicated and boring but you might get few bob out of it. I’ve just whacked up my UK pension contributions for buttons and if I live for another eighteen months (no problem there, one hopes) I’m in profit.
I’d say @JaneJones knows the in and outs of this.
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The first thing to do is get accurate information about what you have in the UK pension pot. You need to get a pension forecast which could take time as you will first need to sign up to the Government Gateway which can be convoluted. Or wait 9 months for them to answer a letter or soend many hours on the phone. Because you live outside the UK you can’t use the HMRC app
But worth doing as topping this up could be the best costs effective addition you could make.
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My wife’s phoned the UK’s International Pension Centre several times recently and hasn’t yet been on hold for long. Suspect the dedicated overseas number +44 (0) 191 218 7777 may have a shorter response time.
Same experience with me.