State pension at 62 years - what about NI payments?

evergreen

As I was born in 1952, I will not get my state pension until I am 62. I assumed I would have to carry on paying NI till then too, but a friend of similar age has told me she has it in writing from DWP that we will stop paying NI at 60. Anyone else aware of this?

seven-day-weekend

You will only need to pay it for 30 years to get a full State Pension, but as far as I understand you do have to pay it if you are working unless you have reached State Retirement age. In your friend's case this may be 60.


http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/DG_4015904

vet8

I do not reach the state retirement age until I am 63 now that they are changing the dates, but I was led to believe (I can't remember where though now) that after 60 I did not have to pay NI as that would be paid for me.

I might be wrong, but I am 100 per cent certain I read that somewhere.

EdInvestor

In general all the arrangements based on women't retirement age (eg the age at which you can apply for pension credit) will be rising as it goes up, and it seems likely the NI age will also rise.

kittiej

Yes I will have to reach 67 before getting a state pension

seven-day-weekend

vet8 wrote: »

I do not reach the state retirement age until I am 63 now that they are changing the dates, but I was led to believe (I can't remember where though now) that after 60 I did not have to pay NI as that would be paid for me.

I might be wrong, but I am 100 per cent certain I read that somewhere.[/quot


This applies at the moment to men between 60-65 to even them up with womens' present retirement age of 60, I do not think it will apply to anyone after April 2010.

poundnotes_2

I took voluntary redundancy from my work recently at age 56. According to forecasts I do not get my state pension until I am 61 years and 10 months. I was told by the DWP that I have 37 years worth of contributions paid and a woman now only needs 30 to get the full state pension. At present it is just over £90. I receive a work pension but I do not (as far as I know) pay N I C from this, but I pay tax. I am looking for part-time work and if I get it, does anyone know do I still pay N I C? If I do not find part timr work I will obviously not be paying NIC.

sdooley

You pay NI on employment income up to state retirement age.

Although you may have a full NI record for pension purposes, that has no bearing on your liability to pay. Your additional NI contributions may make a difference to SERPS/S2P and will keep contributions-related benefits (e.g. job-seekers' allowance) available to retirement age.

poundnotes_2

Thanks you for your reply. I am starting to get to grips with this pension thing now:D

evergreen

As I said in my original post my friend who will be 63 when she gets her state pension, says she has it in writing from DWP that she will stop paying NI at 60. Seems other posters have read that too.