55 year old women lose approx £30k in State Pension

noh

hansi wrote: »

Not sure that that is entirely correct. I stopped paying NIC's at the age of 60 yet my state pension age is is 65.

In the circumstances you describe you should be paying NI if your earnings are above the threshold.

http://www.hmrc.gov.uk/ni/intro/basics.htm

hansi

but I didn't work from 60 to 65!

tanith

hansi wrote: »

Not sure that that is entirely correct. I stopped paying NIC's at the age of 60 yet my state pension age is is 65.

My husband turned 60 last week and go his HR to confirm that yes he has to continue with N/I contributions till 65 so there is something not right here..

noh

hansi wrote: »

but I didn't work from 60 to 65!

Thats why you didn't pay NI. Nothing to do with age.
If you don't earn above the threshold you don't pay NI whatever your age.

noh

tanith wrote: »

But you should still be paying N/I or if claiming a benefit then it should be being paid for you

No there is no need to pay NI especially if he already has 30 years contributions.
Men between 60 and 65 still get autocredits for NI I believe.

hansi

tanith wrote: »

My husband turned 60 last week and go his HR to confirm that yes he has to continue with N/I contributions till 65 so there is something not right here..

I'm afraid he does if he continues working, but the big con is that although you continue to pay NIC's until the age of 65, you don't get any extra state pension, it's just going into a black government hole:mad:

hansi

noh wrote: »

No there is no need to pay NI especially if he already has 30 years contributions.
Men between 60 and 65 still get autocredits for NI I believe.

But that contradicts your post 122 doesn't it?

harz99

hansi wrote: »

But that contradicts your post 122 doesn't it?

Bit like your contradictory post's; in 116 you were working at 60, and in 123 you didn't work from 60-65!!!

I would suggest you start a new thread if you wish to discuss how/why you can/do stop paying NIC's and autocredits etc.

Until then I believe the comment in my post 120 to be correct; unless of course one of our acknowledged experts can correct me.

hansi

harz99 wrote: »

Bit like your contradictory post's; in 116 you were working at 60, and in 123 you didn't work from 60-65!!!

I would suggest you start a new thread if you wish to discuss how/why you can/do stop paying NIC's and autocredits etc.

Until then I believe the comment in my post 120 to be correct; unless of course one of our acknowledged experts can correct me.

Calm down dear, it's only a forum. I worked till I was 60 and just after my 60th birthday, I stopped work! Chiil out!

custardy

hansi wrote: »

I'm afraid he does if he continues working, but the big con is that although you continue to pay NIC's until the age of 65, you don't get any extra state pension, it's just going into a black government hole:mad:

perhaps we should lobby for any NI to be paid to a private pension fund after the 30 years is made?
for some (like me) that could mean over 20 years of NI payments into a seperate pension fund! okay not a fortune but its 'lost' money otherwise