Ahh ok, i didn’t know that. So… by your reckoning I can get a full state pension in the UK if I started work at 16 when I’m 46. But I have to wait until I’m 58 to receive the same if I’m French.Is it 30 years contributions for a full state pension in the UK and a whopping 42 in France.
In France the full pension age is 67, unless you have those 42 qualifying years.
So after 46 what happens to the pension we pay if we don’t need to pay it in?No.
You'd still have no wait until 67 in the UK (if that is your mandated retirement age). But you will have qualified for the full state pension by the age of 46.
In France you could retire at 62, but to do so you would need to have worked fully until the age of 58 to qualify. If you didn't qualify, then you have to wait until 67.
I think...
So it’s a load of old bollocks really. Most folk started work at 16 or when to uni. So started working full time a bit later, 22 maybe. So 30 years on your 52, paid your full amount yet can’t get it for another 15 years, that’s if you live that long.It goes into the pot.
35 in the UK now, 42 in France, 10 years minimum for both I think. Calculation's a bit (lot!) different though. Without wishing to start on an item by item comparison (all taxes, cost of living etc.) you could probably contribute 35 years worth in France and still get more than you would for the same in the UK.Is it 30 years contributions for a full state pension in the UK and a whopping 42 in France.
In France the full pension age is 67, unless you have those 42 qualifying years.
And when they do it watch for the sophistry at work as having used the argument of increased life expectancy to help justify the previous increase in state pension age, they then increase it further despite a lowering of life expectancy [am sure someone will be along soon to discuss the reasons for that].They were supposed to review the pension age any time now and it was supposed to affect the people who were set to retire on or after 2044. As it stands the state pension age will be 68 for that age group, but the recommendation is to bring that down to the mid 2030's thus pushing
probably a few million more out of the 67 bracket and into 68.
Apparently the decision as been deferred for about 2 more years. All extremely convenient considering there will be an election before then.
Shit news doesn't go well at the polling station does it !!
And when they do it watch for the sophistry at work as having used the argument of increased life expectancy to help justify the previous increase in state pension age, they then increase it further despite a lowering of life expectancy [am sure someone will be along soon to discuss the reasons for that].
Before 2010 I think it was over 40 qualifying years were needed and then it got knocked down to 30. Now it is 35 for those starting their working lives after 2016 I guess partly as a result of the removal of the 2nd state pension.Checked my forecast. 30 years maximum that I can contribute.
"You cannot improve your forecast anymore.
If you're working you may still need to pay National Insurance contributions until --/--/---- as they fund other state benefits and the NHS."
Not really, SERPS is no longer a thing. It was replaced at the start of the 2000s I think by the 2nd state pension (similar concept) which in turn was stopped in 2016 in favour of the New State Pension which replaced the combination of Basic State Pension & 2nd State Pension and is what anybody who reached/reaches pension age after 2016 is/will be on. I think they made/make some deductions for those people who contracted out of SERPS/2nd State Pension when determining the value of the new state pension.Once you’ve done 30 years can you opt out of surps to save a few quid?
Have I even got that right?
I believe the option to go back to 2006 has now finished and you can now only make up six years of missed contributions. Fairly certain that it ended on April 6th.There is a limited time for which you can pay voluntary contributions to make up for any missed years since 2006. I advise ANYONE no matter what age to get yerselves properly informed about all this.
April 6th was for this year to date back 6 years until 2016.I believe the option to go back to 2006 has now finished and you can now only make up six years of missed contributions. Fairly certain that it ended on April 6th.
Which ones?ONLY 10 YEARS IN THE US for some form of benefits. 40 quarters.
Public or private?retirement