Did you ever work in the UK? Rescue your UK State Pension before it’s too late.
GENERAL ADVICE WARNING: The advice in this article is general in nature and does not take into account your objectives, financial situation or needs. You should consider your situation and research the relevant aspects before taking any decisions on your UK State Pension. This article is written exclusively for those who lived and worked in the UK, are now living in Australia and were born after 5 April 1951 (men) or 5 April 1953 (women).
If you worked in the UK, you probably remember paying National Insurance Contributions.
You may even recall that the whole point was that when the time came - from about age 67 - you'd receive a UK State pension of up to £9,300 a year for life.
Did you ever wonder what happens if you move abroad and stop paying those contributions?
Will your UK State Pension be zero, a little or a lot? And would you like to find out if it’s possible to drastically increase it?
Click here >> to check eligibility and enter the app
Click here >> to take the next step and speak to the author of this article
It's a complicated topic so at Sovereign Wealth Partners we've built an "app" to make your UK State Pension Rescue easier. Which is why we’re sharing this; to encourage others to jump in, rescue their pension and consider their resuscitation options. The app has two main parts:
The Rescue: helps you retrieve and understand your National Insurance Contribution Record, including how that translates into your future Pension.
The Resuscitation: helps you consider a little known process to increase your pension by reaching agreement with the UK authorities to backpay additional contributions at a special overseas rate.
This won’t be for everyone but even if you only worked a few years in the UK, a Resuscitation could bring a future pension of zero back to life and literally be worth hundreds of thousands of dollars over a lifetime.
This is not something to procrastinate over because as every year passes, the potential benefit from the Resuscitation strategy slowly edges towards zero.
Be aware that the rules, eligibility and paperwork are complicated and can change at any time. There are tax considerations in the UK and Australia as well as a potential impact to Australian Age Pension and social security entitlements. You should consider these aspects before taking action. We can provide advice to help you.
Is this relevant to you? Our app helps you find out. Either way, as it stands right now:
• 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 in Australia, your UK pension is not means tested
• You don’t need to be a UK citizen to benefit
• You most likely do 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.
• This opportunity is independent of any private or employer pensions you may have in the UK. This has nothing to do with "UK pension transfers".
• If you’ve lost your National Insurance number it’ll slow you down but all is not lost!
Click here >> to check eligibility and enter the app
Click here >> to take the next step and speak to the author of this article
If you meet the criteria, it's one of those use-it-or-lose-it opportunities that doesn't come along often.
Disclosure Statement: This communication has been approved and issued by Sovereign Wealth Partners Pty Ltd ABN 18 607 071 367 Corporate Authorised Representative (No. 001233909) of Sovereign Capital Pty Ltd ABN 44 164 127 833, AFSL 456235.
