State pension

begbeer

I have just checked my pension forecast and have only 26years allowed, I remember hearing that you can buy the missing years does anyone know how i go about this and is it worth it

seven-day-weekend

How old are you?

Pollycat

seven-day-weekend wrote: »

How old are you?

and how many more years are you likely to work?

begbeer

I am 58 and retire when I am 60 and 10 months but will carry on working for at least a year

jem16

As you will be retiring after 2010 you will only need 30 years NI contributions. Not sure how near to 59 you are but from the sound of it you will have another 3, possibly 4 years of contributions till you retire so you won't be far short.

Pollycat

As jem16 says, depending on your exact age now, you will be fairly close or over the required 30 years.
For more info on voluntary NI contributions (should it be necessary), see here:

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/PensionsAndRetirement/FinancialPlanningForRetirement/DG_10021384

CLAPTON

If you are male then there is no need to make any voluntary contributions as you have 6/7 years to state pension age. Even if you don't work in your 60s you will be credited with NI years...

EdInvestor

CLAPTON wrote: »

Even if you don't work in your 60s you will be credited with NI years...

But check how many as this may change after 2010.

begbeer

What I did not explain very well is the forecast is for when i retire and will be 4 years short, what i wanted to know is can i buy those 4 years now, did hear some time ago that you could

jem16

begbeer wrote: »

What I did not explain very well is the forecast is for when i retire and will be 4 years short, what i wanted to know is can i buy those 4 years now, did hear some time ago that you could

So did you mean that you don't have 26 years now but that according to your forecast you will have 26 years at time of retiring?

If so the best people to ask is the pension service. Have a read at this and see if it helps.


http://www.thepensionservice.gov.uk/aboutus/2008/may/voluntary-nics.asp

Pollycat

These links may help:
http://www.thepensionservice.gov.uk/aboutus/2008/may/voluntary-nics.asp
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/PensionsAndRetirement/FinancialPlanningForRetirement/DG_10021384