Pensions info from Euro Weekly News February 28, 2008
| The Comments |
Taken from HERE
Dear Editor.
In April 2009 the UK Government will be reducing the number of years which expatriates can pay in order to enhance their UK state pension. Despite having not kept their pension up to date during these years it is still currently possible to bring one's record up to date. The recent approval by Parliament of the Pension Act means that a full pension can be received following only 30 years of contributions. Being still able to catch up all the years since 1996 means that contributions in respect of 13 years can still be made but this will fall to 6 years in twelve months time. A UK expatriate living but not working officially in Spain would have to pay 5000 pounds but this would result in an additional 3000 pounds pension per year for a married couple. For reasons beyond the scope of this letter a person contributing to the Spanish Social Security system would only have to pay 2500 pounds in order the receive the same additional pension. In view of the current economic situation the pension received represents a huge return on one's money and I consider it important that your readers are made aware of this, especially in view of the fact that for obvious reasons the UK Government will do little or nothing to make them aware of this. |
Peter Sanderson
Estepona |
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