As an expat living in the Netherlands, I'm worried about having no pension

Question

You will have earned some National Insurance “credits” towards the UK state pension from your 5 years of employed work. However you need a minimum of 10 years to qualify for the minimum pension, so they’ll be wasted if you don’t work in the UK again.

Boring Money · Accepted Answer

Hi Lucinda,

Good to see that you’re focusing on your retirement planning - your thirties are a great time to get on top of this, as it can be a bit late to catch up if left to one’s forties!

I can’t advise as to the Dutch state pension, but you will have earned some National Insurance “credits” towards the UK state pension from your 5 years of employed work. However you do need a minimum of 10 years to qualify for the minimum pension, so they’ll be wasted if you don’t work in the UK again.

Paying into a UK pension is almost certainly not advisable, as you wouldn’t qualify for tax-relief which is the main benefit.

Equally you cannot contribute to a UK ISA unless you are tax-resident, so that option is out also.

I think your two options are either to;

Look at a regular premium offshore investment to create a “pseudo-pension”.
Although the offshore market is not as highly regulated as the UK so I would suggest you take advice as to which provider to go with.

The other option is to seek out advice in the Netherlands.
They may well have the local equivalent to a UK pension, that could prove suitable for your needs if you plan to remain resident there for some time to come - but to be honest, its all Dutch to me! 😉

Great news on the flat and stock options though. Best of luck with your future!