If you are a UK Expat, then there is the potential for you to make a small investment before the 5th April 2025 that gives you a guaranteed pension for life.
UK expats who have not yet reached state pension age may be able to make voluntary National Insurance contributions to improve their state pension entitlement.
They may choose to rectify this by making a voluntary contribution for missed years. Doing so can be a very profitable move, as some individuals will spend as little as £800 bridging any gaps in their records while seeing a return of £5,500 or more for life.
Today’s episode is about a recent change in the UK legislation that potentially allows UK expats to increase and receive a guaranteed State pension for life from their motherland.
What you’ll learn:
- (0:14) Introduction: Recent UK Legislation Change for UK Expats
- (1:02) Financial Planning Disclaimer
- (2:05) Opportunity for UK Expats Before April 5, 2025
- (3:06) Importance of Filling National Insurance Gaps
- (4:41) Changes After April 5, 2025
- (5:25) Impact on British Expats Living Overseas
- (6:02) Challenges for Expats Making Contributions
- (6:40) Benefits of Voluntary Contributions for Expats
- Loads More…
Links and Resources:
Australian Taxation Office (ATO) – International Taxation for Individuals
Australian Government – Services Australia – Age Pension
#RetirementPlanning #PersonalFinance #Expatriates #FinancialSecurity