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qualifying years

catford
catford Posts: 1,114 Forumite
in Pensions, annuities & retirement planning
Do you get a higher state pension if you have more than the 44 qualifying years? and whats the earliest you can take the state pension?

Comments

  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    Hi catford

    Nope.

    Minimum age is 65 for a man - depends on when you were born for a woman.For women retiring now it's 60.
    Trying to keep it simple...;)
  • CIS
    CIS Posts: 12,260 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    EdInvestor pretty much sums it up, if you pay NI for more 44 years its tough as far as state pension is concerned,

    You just get the that nice feeling that paying that NI and getting no more state pension gives you ;)
    I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.
  • catford
    catford Posts: 1,114 Forumite
    OK then. what would happen if i did my 44yrs then stopped working?would i still get a full pension at 65and what would i lose ?
  • CIS
    CIS Posts: 12,260 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    You wouldn't loose out as far as Basic State Pension is concerned, however S2P/AP will still be accrued up until 5/4 prior to your SPA, so if you stopped working you would loose out on it (paying voluntary/Class 2 doesn't accrue S2P).
    I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.
  • catford
    catford Posts: 1,114 Forumite
    sorry-CIS what'sS2P/AP andSPA??I've neglected the impending pension crisis for so long that i dont even know the terminology now!
  • CIS
    CIS Posts: 12,260 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    AP = Additional Pension (SERPS + S2P)
    S2P = State Second Pension
    SERPS= State Earnings Related Pension Scheme
    SPA = State Pension Age

    Its me using abbreviations again, Iam used to using them rather than the full name. I got that used to using them at work that I tend to forget that am talking to people who oftern dont understand what they are. ;)

    Now lets talk about MWRRE and LTAHAW :D
    I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.
  • catford
    catford Posts: 1,114 Forumite
    My mum told me about this but it's not happened before!!thanks for the lesson! :confused:
  • CIS
    CIS Posts: 12,260 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Just to clear things up :p

    MWRRE = Married womans reduced rate elelction aka reduced stamp or married womans election

    LTAHAW = Living together as husband and wife
    I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    LTAHAW = Living together as husband and wife


    Do they have "LTAHAH"?

    Or is that not coming in till next week? :):D
    Trying to keep it simple...;)
  • CIS
    CIS Posts: 12,260 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Or to keep it all correct

    LTAWAW ;)
    I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.
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