I've decided to buy back the missing years of my UK national insurance contributions after 10 years in Switzerland.

I got really confused with Class 2 vs Class 3 National Insurance, which Class 2 is way cheaper than Class 3.

I am currently working in Switzerland, it seems I can be qualified for Class 2.

Will there be benefit differences when paying into Class 2 vs Class 3 when I retired? Will I get less National Insurance pension if I pay in Class 2?

Why is Class 2 way cheaper? just curious. it seems only to apply to people who are employed in Oversea, or self-employed in the UK? what's the idea behind it?

Thanks, folks.

it's basically a loophole that was never closed. just pay the class 2 and save money!

I think it would be the same in the end.
I googled "Class 2 cheaper than class 3" and found the following:


https://www.litrg.org.uk/tax-guides/...-contributions



"Class 2 NIC can also be paid on a voluntary basis if an individual leaves the UK. However, this only applies where you will be self-employed or employed abroad. Class 2 contributions are cheaper than Class 3 contributions and actually protect more benefits than Class 3, so if you want to pay NIC on a voluntary basis, and will be employed or self-employed in some form whilst overseas, it may be cheaper to pay Class 2 NIC."


Doesn't help to explain why the differences are there though. I suppose maybe it's thought self-employed do more work the the same reward as employed?


Another web page goes on to say about paying back years "However, Class 2 contributions are to be abolished from 6 April 2019, so 2018/19 is the last year for which this option is available." so do it now if you want to.

Pay class 2. You get the same pension money. Everyone does under the current system.

Class 3 also includes maternity pay, sickness pay etc etc, everything you wouldnt be entitled to claim even if you paid it.

Class 2 is likely to be stopped soon, so rack up as many cheap years as possible.