Expert issues urgent UK State Pension reminder to Tipperary residents

A financial expert has issued an urgent reminder to people in Tipperary who worked in the UK that they must act quickly if they wish to boost their British pension by thousands per year.

Pensions expert Dan Malone said that Irish people who worked in the UK must act before Saturday, April 5th to fill up to 18 years of gaps, before the opportunity is lost forever.

The UK is allowing anyone who worked there for three years to fill gaps to take them over the 10 year threshold to receive a partial UK pension, or closer to the 35 years needed for the full state pension.

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The deadline has been extended three times already, however this weekend is the final deadline for people in Tipperary to top up their British state pension, which they can claim on top of their Irish pension.

Financial advisor Dan Malone explained that people just need to start the process before Saturday 5th April by filling out an online form which takes less than a minute.

“The simple callback form simply asks for your name, phone number, date of birth and whether you live abroad or in the UK,” said Mr Malone.

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“Anyone who requests a callback using the online form before Saturday could potentially be entitled to thousands more per year in retirement – but after this weekend, people will only be able to buy up to six years of voluntary contributions.”

Mr Malone said that topping up is a “no-brainer” for those who are able to, and that it is likely to be the best investment they will ever make.

“The full UK State pension for 35 years of National Insurance contributions is currently worth £221.20, which is €265.36 per week,” he said.

“If you have 30 years of NI contributions, then you’d get 86% of the full UK State Pension. This works out at £189.60 (€228.83) per week.”

“At the other end of the scale, if you only have 10 years of contributions, then you’d still receive £63.20 (€76) per week – worth almost €4,000 a year.”

He said that the best way for people to find out how much it would cost to buy back years and discover how much they’d get in return is to use a free, online UK pension calculator created by the National Pension Helpline.

The calculator, available here, is designed specifically for Irish residents who worked in the UK to make sense of the whole situation.

“The tool is designed for people to find out if they qualify for a British pension, explain how much it costs to fill gaps, and let them know how much they could stand to gain per year,” he explained.

The callback form for Irish people who worked in the UK and wish to pay voluntary contributions towards their pension can be found on the UK government website.