Preparing for leaving the UK: Final checklist

[rjm_cmyk 75]

All of the above. Most of my work was on getting my financial status updated. So cancelling credit cards, advising financial institutions of changes of addresses and updating bank records. I closed all the financial accounts I wasn't going to need partly to reduce the risk of ID fraud with "orphan accounts" . I also got myself taken off the electoral register at the address I lived at. You really don't want anyone using your ID and getting bills sent to (and associated with) parents/friends/flatmates etc.

I also made pension companies aware that I was married and had a new beneficiary.

At some point I I will let the revenue know. I will also let the DWP know too. Worth checking on state pension entitlement to see if it's worth continuing NI payments. I'm 56 so if it's still getting paid when I'm 66 it's worth hanging onto.

<This is bringing back memories of my last few weeks - only just recovered!>

[Nich-Nick 3,354]

Richard, if you are 56, haven't you already paid in enough years to be covered by state pension? Do you have 30 years in?

[rjm_cmyk 75]

I certainly have although I will believe when I see it - 10 years is a long time in the current pension climate.

Some might not though. It's a cheap way to buy that much pension and I would certainly have topped it up if I hadn't paid enough.

[Nich-Nick 3,354]

I certainly have although I will believe when I see it - 10 years is a long time in the current pension climate.

Some might not though. It's a cheap way to buy that much pension and I would certainly have topped it up if I hadn't paid enough.

Ok, well maybe I don't get it then. I thought on a state pension everybody gets the same amount...whatever the going rate is at your retirement age, as long as you paid the required years to get the maximum amount.

So if you paid in 30 years, then you get something like £107/week.

If you paid in 40 years, you get £107/week.

If you paid in less than 30 years you get a reduced payment per week.

Not so,with private pensions based on earning and amount paid in.

And did you also know you can't collect a UK state pension AND US Social Security retirement. You pick the highest one to receive.

Also not true with collecting private UK pensions. You can collect that without forfeiting state pension or Social Security payments. It is only government payouts that you can't take from two countries at the same time.

Are you saying you want to pay over and above because they might change the rules on you? Pay for 10 yeas just to get a few extra £ a week? Not bothered.

Edited August 13, 2014 by Nich-Nick

[rjm_cmyk 75]

I'm saying that everyone needs to check if they've paid the requisite amount of years to qualify for the the full pension. If they haven't they can continue to pay top up amounts to ensure they will when it is payable . The Department of Work and Pensions will give anyone that asks a pension statement so they can see what they need to do (if anything). It's a very cheap way of buying that much pension and well worth doing (depending on how many years you have already been paying NI)

I'm not expecting to have any worthwhile claim on US benefits so will only take UK anyway - also have company pension .

My cynical comments about state pensions are based on a belief that there is a risk , probably small , that the rules and benefits may change as they have done in some US states already. In my lifetime the age at which it payable has already changed once. Paying more does not obviate that risk. I stopped paying once I hit the 30 years.

[Beefheart 31]

First and foremost, let me clarify I read the "Before leaving the UK forum" in its entirety. I know that's a recommendation, and I did follow up.

Where is this fabled forum you speak of? I can't find it anywhere on the site -- granted, I am an awful navigator, but still. . .

Could you link me up please.

Cheers!

[Owen_London 65]

And did you also know you can't collect a UK state pension AND US Social Security retirement. You pick the highest one to receive.

No. I have no idea where you got that from.

If you qualify for both, you collect both. And since it only takes ten years of employment to fully qualify for US social security, and you can continue to contribute UK national insurance after leaving the UK, most people here should be able to collect both at the full rate, providing the current rules continue.

Don't be confused by the US/UK totalization agreement. This only comes into effect if combining your US and UK contributions helps you collect more from one or other administration.

The other issue is that WEP (windfall elimination provision) will reduce the US social security to some extent when collecting both, but that is still a very minor consideration.

Edit: If you've been assuming this, your husband might need to look into making back contributions to national insurance to increase his UK pension.

Edited August 21, 2014 by Owen_London

[Owen_London 65]

Where is this fabled forum you speak of? I can't find it anywhere on the site -- granted, I am an awful navigator, but still. . .

Could you link me up please.

Cheers!

I think he should have written thread, not forum:

http://www.visajourney.com/forums/topic/455076-things-you-need-to-do-before-leaving-the-uk/

[Beefheart 31]

Thank you, Owen!