So I really must be getting old if I'm starting to think about this sort of thing. Anyway, just qualified and have no idea how pensions work in this industry. I am fully aware this is the sort of thing you should take professional advice on but thought I would just see what everyone else on here does.
Do most people pay into company pension schemes, or is there a general merchant navy one which is better? I know that will mostly be down to the company. Does being out of the country, seafarers earnings deductions have any effect on your pension in terms of tax relief etc? Also are we still eligible for the state pension with not paying tax? Is that where paying NI voluntarily comes in? Not that I'm expecting there to be a state pension by the time I reach that age of course...
Any general advice/experience appreciated.
Do most people pay into company pension schemes, or is there a general merchant navy one which is better? I know that will mostly be down to the company. Does being out of the country, seafarers earnings deductions have any effect on your pension in terms of tax relief etc? Also are we still eligible for the state pension with not paying tax? Is that where paying NI voluntarily comes in? Not that I'm expecting there to be a state pension by the time I reach that age of course...
Any general advice/experience appreciated.
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