Moving Abroad

Stan · Post by **Stan** » Tue Feb 06, 2007 6:26 pm

I'm hoping to move to the Czech Republic by late Autumn of this year.
I know it isn't the top of everyones' list but my wife is Czech and she would like to go back after being here in the UK for 8 years.

We are currently having a house built there (I can post some photos if anyone is interested). In case I give the wrong impression, we are not wealthy people and its only with the help of my in-laws that the house could be started. Once we sell our house here can our new one be finished.

Having seen programmes on TV about ex-pats moving abroad I'm lucky that I won't have to face some of the initial challenges. I have some where to stay and food for my belly. My in-laws are fantastic people and I won't have the added pressure of trying to find work straight away.

The main reason for this topic is that I am looking for advice concerning protecting my UK state pension until I reach state retirement age. At my age, after having paid contributions regularly to date, I would prefer to receive a full pension and not a reduced one. I have the added protection of a company pension so I'm not relying solely on the state one. I met an ex-pat in Prague and he stated that he paid a fixed monthly sum to the UK to protect his state pension.

I have briefly read some info off web sites but not all is clear. Is there anything else I need to consider. I am treating the move as permanent.

Mid A 15 · Post by **Mid A 15** » Tue Feb 06, 2007 6:44 pm

I THINK that you can achieve your aim by paying Class 3 (Voluntary) National Insurance Contributions which are Â£7.55 per week for this tax year 2006/7.

In other words Â£30-Â£40 a month could do it.

The amount to contribute tends to increase each tax year by roughly the rate of inflation.

This site might help.

http://www.direct.gov.uk/en/MoneyTaxAnd ... G_10021384

jhopgood · Post by **jhopgood** » Tue Feb 06, 2007 6:45 pm

I have lived abroad since 1974 and have always paid Class 3 contributions. I got a letter recently saying that I should keep an eye out as on May 25 the Government published a White Paper "Security in Retirement: towards a new pensions system" CMD6481.
It will mean that you only need 30 years to qualify and not 39 (women) and 44(men) as present.
Should be resolved late summer 2007.
Anyway, suggest you visit http://www.dwp.gov.uk/pensionsreform for mor info, and where I am sure you can get something more qualified on your situation.

Mid A 15 · Post by **Mid A 15** » Tue Feb 06, 2007 7:21 pm

You ask whether there is anything else that you should consider.

The Czech Republic is part of the EU as you know.

There is a trend to greater integration and closer union within the EU so it could be that eventually there will be greater transferability of National Insurance (or equivalent) contributions between EU countries meaning that payments you make in the Czech Republic may count towards a UK Pension or vice versa.

In the interim though Class 3 is probably the way forward.

Stan · Post by **Stan** » Tue Feb 06, 2007 7:34 pm

Thanks for the info.
What's interesting is that the web site that tells you what to do about gaps in one's contributions record makes no mention of potential pension reform with regard to number of qualifying years. In fact it states that women will require 44 years in the future due to the equalising of retirement age.
I hope that the reform comes in and 30 years is sufficient.