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Increase Contributions at Lower Class 2 Rates to Maximise Your UK Pension

If you have ever worked in the UK then you will have paid National Insurance contributions. These contributions are paid by workers and employers towards the cost of certain state benefits, one of which is the State Pension.

When you left the UK you may have filed away a letter from HMRC which confirmed how many years of the UK State pension you were entitled to. Now is the time to act to increase your State pension at the lower Class 2 rates.

You can increase your State Pension while resident overseas, doing so will ensure you maximise the pension that is available to you, rather than lose this entitlement if you do not have the minimum requirement.

The maximum UK State Pension, as of today’s rate is approximately £155.00 a week using today’s exchange rate, $257.00 a week payable once you reach UK State Pension age.

What if you do not have 35 years of Qualifying years? The answer is simple, start to purchase them now at the lower rates whilst available, to maximise your pension.

If you purchase a single year’s worth of contributions. Then the cost of purchasing 1 year would be approx. £733 at Class 3 rates, or £145 at the lower Class 2 rates.

This single contribution would boost your state pension entitlement by around £230 a year for the rest of your life.

£733 at Class 3 rates and £145 at the lower Class 2 rates, would therefore generate a pretty impressive £4,600 over the course of a 20-year retirement.

Residents overseas have the opportunity to purchase up to 10 “missing” years. You could receive an extra £46,000 for an outlay of less than £7,330 (at Class 3 rates) and £1,450 (at Class 2 rates).

Important: Class 2 is set to be abolished as at 5 April 2018

Secure your Class 2 rates now by calling PTS to find out if you are eligible to top up at the lower Class 2 rates and discuss how we can assist in maximising your retirement income today.

Call 08 9233 9269 or email

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