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For several years my wife and I have been spending our year split between the UK (4-months), Spain(4-months) and Dubai (4-months). We have recently sold our property in Spain (Mallorca) and intend to spend most of the year(9-months) based in Dubai.
In 2008 my wife deferred her UK pension and it's my intention to do the same when mine becomes due since the deal from the UK government seems to good to miss.
My question is -- since we will not be residents of the UK or EU (including the countries that have special arrangements for pensions), will the basic pension we receive be based on that at our pension age or is it based upon the increases that are being applied each year.
I tried reading info from the various UK sites providing info on pensions but can't find an answer to my question. Hence I'm seeking an answer from the members of EoS.
Regards,
David
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Ring this number +44 191 218 3600
This is a forecasting service for Brits living abroad and although it might not be the EXACT place to tell you what you want to know, we´ve found them very helpful and will tell you who to contact.
Irene
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This info is from the Pensions Service website
Does living outside the UK affect State Pension deferral?
If you normally live outside the UK and you have not already claimed your State Pension, you can put off claiming when you reach State Pension age.
When you finally do claim, we will work out your pension entitlement based on the amount you would have got if you had been claiming it at the time. This will include any yearly increases to the State Pension, even if you are living in a country where these increases don’t normally apply.
Once you have started to get your State Pension, you will only get yearly increases to your State Pension and your extra State Pension if you are living in certain countries. These are:
- countries with which the UK has an agreement on social security that allow yearly increases to be paid (the UK means England, Scotland, Wales and Northern Ireland), or
- countries in the European Economic Area (EEA) listed
below. Countries with which the UK has an agreement on social security that allow yearly increases to be paid:
Barbados Bermuda BosniaHerzegovina The Channel Islands Croatia The Isle of Man Israel (see page 42) Jamaica Kosovo The Republic of Macedonia
41
Mauritius Montenegro The Philippines Serbia Turkey The USA. The agreement with Israel applies to the territory
administered (run) by the Government of Israel on
19 July 1956. Any territory that is outside Israel, as defined
here, is not covered by the agreement. For more advice,
you should contact the International Pension Centre. See
page 61 for contact details.
Countries in the European Economic Area (EEA): Austria Belgium Bulgaria Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Iceland Ireland Italy
42
Latvia Liechtenstein Lithuania Luxembourg Malta The Netherlands Norway Poland Portugal Romania Slovakia Slovenia Spain Sweden Switzerland is not a member of the EEA, but as a result of
an agreement with the EU, the EU rules on social security
will also largely cover Switzerland. Gibraltar is not a member of the EEA, but the UK applies the EU Regulations to Gibraltar as though it is an EEA country. Other EEA countries treat Gibraltar as though it is part of the UK.
If you live outside the UK and have claimed your State Pension, you will not normally be able to choose to put off claiming it to earn extra State Pension or a lump sum. However, you may have this option if you live in one of the EEA countries listed above and you are a UK national, a national of one of the EEA countries or you are entitled to live there for other reasons.
For more information on this, contact the International Pension Centre. See page 61 for contact details.
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Poppyseed
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This info is from the Pensions Service website
Does living outside the UK affect State Pension deferral?
If you normally live outside the UK and you have not already claimed your State Pension, you can put off claiming when you reach State Pension age.
When you finally do claim, we will work out your pension entitlement based on the amount you would have got if you had been claiming it at the time. This will include any yearly increases to the State Pension, even if you are living in a country where these increases don’t normally apply.
Once you have started to get your State Pension, you will only get yearly increases to your State Pension and your extra State Pension if you are living in certain countries. These are:
- countries with which the UK has an agreement on social security that allow yearly increases to be paid (the UK means England, Scotland, Wales and Northern Ireland), or
- countries in the European Economic Area (EEA) listed
below. Countries with which the UK has an agreement on social security that allow yearly increases to be paid:
Barbados Bermuda BosniaHerzegovina The Channel Islands Croatia The Isle of Man Israel (see page 42) Jamaica Kosovo The Republic of Macedonia
41
Mauritius Montenegro The Philippines Serbia Turkey The USA. The agreement with Israel applies to the territory
administered (run) by the Government of Israel on
19 July 1956. Any territory that is outside Israel, as defined
here, is not covered by the agreement. For more advice,
you should contact the International Pension Centre. See
page 61 for contact details.
Countries in the European Economic Area (EEA): Austria Belgium Bulgaria Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Iceland Ireland Italy
42
Latvia Liechtenstein Lithuania Luxembourg Malta The Netherlands Norway Poland Portugal Romania Slovakia Slovenia Spain Sweden Switzerland is not a member of the EEA, but as a result of
an agreement with the EU, the EU rules on social security
will also largely cover Switzerland. Gibraltar is not a member of the EEA, but the UK applies the EU Regulations to Gibraltar as though it is an EEA country. Other EEA countries treat Gibraltar as though it is part of the UK.
If you live outside the UK and have claimed your State Pension, you will not normally be able to choose to put off claiming it to earn extra State Pension or a lump sum. However, you may have this option if you live in one of the EEA countries listed above and you are a UK national, a national of one of the EEA countries or you are entitled to live there for other reasons.
For more information on this, contact the International Pension Centre. See page 61 for contact details.
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Poppyseed
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Poppyseed
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Thanks very much for the information it is most helpful.
We will continue to defer my wife's pension and I will defer mine for a few years as the 10%+ per year is better than we can achieve with cash deposits.
It's rare the government give you a good deal but this is too good to pass on.
Enjoy your day - As it's a bit warm today 34C now rising to 36CD I'm off to the Ski dome this AM and water skiing after lunch.
Regards,
David
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Poppyseed
thanks for the link have just downloaded and found all the info required. Would recommend it as required reading to anyone reaching retirement age.
Thanks again.
David
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