Dubai Forums Dubai Expat Forums Dubai Expat Help Forum

Moving out to Dubai but need tp pay minimum class 2 NI contributions to keep up my pension for when I return, any advice?

Pretty easy actually, you just phone IR and say you're leaving the country, they send you a form for opting out of the tax system and one for continuing NI and you pay between 9 and 12 pounds a month from an offshore bank account (not sure why it moves around, but then again we are talking about the tax authorities who do what they like).

Alternatively, you can opt out of the system completely and redeem your payments to date, otherwise you could be hit with a much bigger NI bill when you return to the country for good, until you pay it you can't use the NHS or claim a pension.

Worth the small financial outlay definitely...

Depends really. I opted out completely as there's no way that I will get a state pension. I pay into a private one instead.

that was a bad financial move Chocs. minimal class II NI contributions would have given you a minimum £87 a week from age 60 for the measly sum of around £12 per month. No private investment or pension will give you that rate of return.

It also give you access to access to our health service over the age of 60 when at that age, you will find most private health care providers either rocket your premiums or severely restrict your cover.

I know you wont think you will need it, or return to the UK etc, but in view of the cost i would have said the returns on a measly NI contribution is well worth keeping up.

Those are my thoughts entirely, also don't want to work for ever and wouldn't consider Dubai a place to settle without working, there are a lot better climates for retirement within the EU for retiring, it bugs me though that you pay well over the minimum contributions all through your life whilst working, yet cannot take a year or so out and put those in essence over payments towards being out of the country, you are after all not using any benefits whilst out of the country outside the EU.