Paying Class 2 NI

stagey_2

Hubby is SE and has always paid class 2 contibutions (+ class 4) he will get a basic goverment pension of £107 have done a prediction calc (he's 63 now) and has paid 47 yrs contributions already - is he able to increase what he pays for the next 14 months or so to get a bigger government pension.

thanks.

glitterkitty

no. he has more than enough for the full state pension. it cant be increased further. however, if he is opted into SERPS, he may qualify for the state 2nd pension. this may be unlikely with him being SE but its worth checking out

Just_landed

Self employed folk cannot get serps end of.;)

stagey_2

Yes he's paid more than enough - but he can't stop can he??

glitterkitty

no. if he's SE he legally still has to pay Class2 contributions until the age of 65.

refinnej

glitterkitty wrote: »

no. if he's SE he legally still has to pay Class2 contributions until the age of 65.

My hubby and I r both SE. If you read the back of the letters from HM Revenue & Customs [the one that tells you the change of rates] states that

The pensions act 2007 states that the number of years needed to qualify for a full state pension to b reduced to 30years for both men and women reaching state pension age on or after 6 April 2010, and therefore need to consider whether to pay any further contributions.
I have tried to contact our local office via e.mail but nobody has as yet got back to me.

EdInvestor

refinnej wrote: »

The pensions act 2007 states that the number of years needed to qualify for a full state pension to 30years. for both men and women reaching state pension age on or after 6 April 2010, and that we therefore need to consider whether you need to pay any further contributions.

How many years have you clocked up already and how many are left till your retirement age?

You can get a pension forecast here: https://www.thepensionservice.gov.uk

It will tell you if you need to pay any extra class 2 conts ( and what a bargain they are! )

mrkbrrws

If you are self-employed but your profits are under £4,825 per year (2008/09) you can opt to not pay Class 2, otherwise they are compulsory up to state pension age.

refinnej

hubby 61 me 58. we both started work at 15.

glitterkitty

refinnej wrote: »

My hubby and I r both SE. If you read the back of the letters from HM Revenue & Customs [the one that tells you the change of rates] states that

The pensions act 2007 states that the number of years needed to qualify for a full state pension to b reduced to 30years for both men and women reaching state pension age on or after 6 April 2010, and therefore need to consider whether to pay any further contributions.
I have tried to contact our local office via e.mail but nobody has as yet got back to me.

yes but if you are earning more than the lower earnings limit, NI payments are compulsory. you still legally have to pay them even if you have enough years for pension.

i work for national insurance

try calling 0845 302 1479 national insurance enquiries

EdInvestor

refinnej wrote: »

hubby 61 me 58. we both started work at 15.

When do you turn 60? If before April 2010, you will still need 39 years of NI conts to get the full basic state pension.If after that, only 30 years needed. Husband will only need 30.