If you earn over the threshold limit in the Falkland Islands you will need to contribute to the Retirement Pension Scheme, which will provide a ‘State’ pension when you retire. The retirement age depends on your date of birth and can be found on the Pensions Department webpage.
Key Points to Consider
Compulsory Contributions: All employees and employers must contribute if earnings exceed the recognised threshold. Contributions are deducted from salaries each month.
No Refunds: Under Falkland Islands law, pension contributions cannot be refunded. However, if you have made at least 250 weekly contributions you will get a partial pension at retirement age.
Voluntary Contributions for Short-Term Residents: If you are in the Falklands for less than five years you can choose to make voluntary payments from anywhere in the world to reach the required 250 contributions. Contribution rates for non-residents are different, so best to contact the Pension Office for details.
Not Recognised in the UK: The Falkland Islands pension scheme is independent and not recognised in the UK. Nor are UK National Insurance contributions recognised in the Falklands.
See the FIG Pensions webpage for more information. For enquiries, contact the Pensions Department at:
- [email protected] | +500 28417.