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  • FIRST POST
    • happyhero
    • By happyhero 16th Mar 17, 8:43 PM
    • 1,057Posts
    • 48Thanks
    happyhero
    State Pension for me - confused - help please
    • #1
    • 16th Mar 17, 8:43 PM
    State Pension for me - confused - help please 16th Mar 17 at 8:43 PM
    I'm struggling a bit with state pension info online to make it clear for my particular case.

    I'm 56 born 1961. I left work in 2005 to live off savings/investments. At that time I had 30 qualifying NI years which I'm sure I phoned up about and was told that would give me a full state pension but when I did a quick state pension forecast online last year it looked like that 30 years was not enough and I wouldn't get a full state pension.

    Have I got something wrong/mixed up?

    Will I get a full state pension?

    Should I and could I top my state pension up?

    If I could what would it likely cost me?

    Would the money be better directed to a SIPP as I am a keen investor?
Page 2
    • roxy28
    • By roxy28 18th Mar 17, 3:56 PM
    • 589 Posts
    • 57 Thanks
    roxy28
    I edited my post re 9th year whilst you were posting.

    Years can be purchased at the in year price up to 2 years after the end of the year so 2016-17 needs to be purchased by 5 April 2019 to maintain the current price. After then they increase to the price of the year when purchased and are available until the end of 6 years so 5 April 2023 for 16-17. You cannot buy in advance so will have to buy as you go along. 16-17 is £733.20, 17-18 will be £741, each year increasing roughly with CPI.
    Originally posted by molerat
    For someone who is retired now and reaches SP age in march 2019 can they buy 2 years worth of NI to increase SP amount.
    Years 2016/17 2017/18 but not 2018/19? and can the 2 years be paid together after year 2017/18.
    • molerat
    • By molerat 18th Mar 17, 4:06 PM
    • 15,863 Posts
    • 10,070 Thanks
    molerat
    Yes. You cannot buy the year you reach SPA. Buying them together will not be a problem.
    www.helpforheroes.org.uk/donations.html
    • roxy28
    • By roxy28 18th Mar 17, 5:33 PM
    • 589 Posts
    • 57 Thanks
    roxy28
    Yes. You cannot buy the year you reach SPA. Buying them together will not be a problem.
    Originally posted by molerat
    Ok thanks for the reply.

    My uncle who this applies to was unsure if the tax year 2017/18 was ok to buy.

    Also is there any advantage in buying 2016/17 after april 6th this year
    • molerat
    • By molerat 18th Mar 17, 6:03 PM
    • 15,863 Posts
    • 10,070 Thanks
    molerat
    The advantage is in buying them as late as possible. The earliest,16/17, will stay at the same price so the money can be put away in an interest earning account plus it is safe if he falls under a bus
    www.helpforheroes.org.uk/donations.html
    • roxy28
    • By roxy28 19th Mar 17, 3:59 PM
    • 589 Posts
    • 57 Thanks
    roxy28
    The advantage is in buying them as late as possible. The earliest,16/17, will stay at the same price so the money can be put away in an interest earning account plus it is safe if he falls under a bus
    Originally posted by molerat
    Ok thanks again, have passed info on.
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