UK Pension Buyback April 6th Deadline
From April 6th, only those who have worked 10+ years within the United Kingdom will be allowed to purchase any additional years to top up their UK State Pension.
For the thousands of Irish people who have worked in the United Kingdom over the last couple of years, this leaves them with just a short couple of weeks to gather any relevant information they may have regarding the National Insurance records.
The cheaper, Class 2 rate (£182/€209 Per Year) will also be removed entirely, meaning those who are looking to contribute additional years to their national insurance record will have to do so at the higher Class 3 rate (£907.40/€1,042 Per Year).
For a majority of individuals who have previously worked in the United Kingdom, this could be their last opportunity to increase their pension value, and with just weeks remaining before the deadline, it is vital that you gather your National Insurance records and submit your application before the deadline arrives, even if you cannot currently afford the contributions, as it could be weeks or even months before you will be required to make the contributions
Learn more about our UK State Pension services here at Moore Wealth Management and talk to our team of Certified Financial Planners today, free of obligation or commitment here.
