Should I pay Voluntray NI Contributions ?

Whats_my_age_again

I too have two year contributions to pay (about £600). I am only 23 but have 5 years paid already and will get 5 from age 60 onwards so that is 10 years. So I only need 34 years between now and age 60 to get the full state pension. I assume I will still get a smaller pension if for example I only have 40 qualifying years. Its not 44 years or nothing is it?

I believe that it would be better for me to stick the £600 in a savings account and let it grow. Does anyone see a problem with this option?

CIS

As long as you have minimum of 11 years (25%) , you get a pro rated pension on the number of years you have.

With the number of years you have to go and the 3 years leeway you have the years between now and 60, it may be worth your while saving the money.

But, at the end of the day, its a gamble, do you pay now and know you've got them or try to ensure you get a good record in the future.