UK State Pension Rescue: last orders!
Steve Thaxter – Senior Partner and Principal Adviser
Sovereign Wealth Partners
In the last few years we’ve been reaching out to the UK expat community in Australia helping them rescue and resuscitate any residual UK State Pension entitlements. Many have been able to lift their entitlement at age 67 from nil (under a “do nothing” scenario) to close to £10,000 per annum for life.
However, next April the temporary concession window is due to close. In recent years this concession has permitted back-payments of missed contribution years all the way back to 2007. From April 2023 onwards, a much smaller number of back-payments will be allowed. So, if you or someone you know has still not attended to their pension rescue, the time to act is NOW! Please contact us for more details.
As a reminder, there may be a significant future benefit for someone aged 67 or under who no longer lives in the UK but did previously live and work there for three or more years.
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