JSA and NIC and redundancy

shazkhan111

need some third party advice.

If a person has paid 30 years NI contributions and has in excess of £20,000 in savings by way of a redundancy payment.

Is it worth their while registering as unemployed, my guess is they will not get JSA, is there any benefit in paying any more NIC?

Thanks to all who all help

mcc28_x

Rules changing but a man needed 44 years NI contributions, check direct.gov to find out when the change is due as it is coming down.

Mark

healy

If they have paid the necessary NI for the tax years 05/06 and 06/07 they would receive 6 months contribution based JSA if they signed on as this is not affected by savings. If they have 30 years NI and are retiring after April 2010 they would not need anymore to receive a full state retirement pension.

shazkhan111

healy wrote: »

6 months contribution based JSA if they signed on as this is not affected by savings. quote]

Even if they had £100,000,000 in savings?

shazkhan111

mcc28_x wrote: »

Rules changing but a man needed 44 years NI contributions, check direct.gov to find out when the change is due as it is coming down.

Mark

sorry, should have said the question is for a female, ?

healy

shazkhan111 wrote: »

healy wrote: »

6 months contribution based JSA if they signed on as this is not affected by savings. quote]

Even if they had £100,000,000 in savings?

Yes but I dont think it would be worth the hassle if that rich.

mcc28_x

shazkhan111 wrote: »

sorry, should have said the question is for a female, ?

Hi, I think it was 40 years for female, however changes for anyone retiring after 2010.

Like others have said, if fulfilled earnings crtieria for the 2 tax years in use, should get JSA(C) regardless of other circs. £60.50 for 26 weeks.

If you're entilted claim it - I would.

Mark

healy

mcc28_x wrote: »

Hi, I think it was 40 years for female, however changes for anyone retiring after 2010.

Like others have said, if fulfilled earnings crtieria for the 2 tax years in use, should get JSA(C) regardless of other circs. £60.50 for 26 weeks.

If you're entilted claim it - I would.

Mark

It used to be 44 qualifying years for a man and 39 for a woman but as from April 2010 it is 30 years for both.

stazi

The OP shouldn't forget, that if s/he intends to carry on working, you still have to pay NIC until state pension age.