Worked in the UK? This is one strategy you may know nothing about… and want to!.

Steve Thaxter- Partner and Principal Adviser

Sovereign Wealth Partners



This article was written for those who lived and worked in the UK, now live in Australia and are under 67 years of age. 


If you worked in the UK, you probably remember paying National Insurance Contributions, right?

The whole point was that when the time came – in your mid to late 60’s – you’d receive a UK State pension of up to £8,500 a year for life.


Ever wondered what happens if you moved abroad and stopped paying those contributions?

Well it’s not gone anywhere and it’s something that could literally be worth thousands of dollars to you… unless of course you never claim it.


Will your UK State Pension be zero, a little or a lot?  As part our overall service, we can help you resuscitate your UK State pension.


Like many of us who left the UK early in their careers, I assumed that my entitlement to a UK pension would be on track for nothing. Turns out that’s not the case.


I personally have gone through the process which is why I’m now sharing this; to encourage others who meet the criteria to jump in and rescue it as soon as you possibly can.


Be aware though that some of the rule, eligibility and paperwork are complicated, but are very much doable and very much worth it!.


What’s involved?


Stage 1 is the rescue – we can help you retrieve and understand your National Insurance Contribution Record, including how it translates into a future Pension.


Stage 2 is the resuscitation – we can also help you consider a little-known process to reach agreement with the UK authorities to backdate and fast track additional contributions at a special overseas rate. This approach won’t be for everyone but even if you only worked a few years in the UK, it might transform a future pension of zero into an income stream worth thousands of dollars over a lifetime.


Of course, the rules can change at any time. And as every year passes, the potential benefit from the strategy slowly edges towards zero.


As it stands today:

  • You don’t need to live in the UK or retire there to benefit
  • You don’t need a UK bank account to benefit
  • Unlike Australia, your UK pension is not means tested
  • You don’t need to be a UK citizen to benefit
  • You probably need to have lived and worked in the UK for at least 3 years – but there are exceptions and part time student jobs often count towards your National Insurance record.
  • If you’ve lost your National Insurance number it’ll slow you down, but all is not lost.



Sovereign Wealth Partners are reaching out to our clients and their friends of UK heritage to help them make the most of their UK State Pension.

Will your UK State Pension be zero, a little or a lot?  As part our overall service, we can help you resuscitate your UK State pension.


This is something not to procrastinate over!.


If you have any questions, contact us to found out more and we’d be happy to share what you need to know, or if you’d like some help- share how we may be able to make the process even simpler.




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