Shortfall in National Insurance Contributions

sharnad

EdInvestor wrote: »

As you retire after 2010, you will only need 30 years NI conts for the full BSP and thus will have overpaid: pleased to hear they will refund conts paid since the pensions Bill announcemenet of potential change on this in 2006.

If a full year class 3 contributions have been paid the full year of 2006-2007 gets paid back not just from may 2006

baby_boomer

EdInvestor wrote: »

One thing they don't mention is that the system also goes unisex from 2010, so males can get state pensions based on their wives' contributions.

What happens when one partner pops their clogs in the case of a) a married couple b) civil partners c) co-hab partners . I'm assuming both partners have their own individual full individual pension entitlement.

Is there any extra pension available to the surviving partner, and if so, how much? If anything was payable it could make quite a difference to my retirement planning - and, I imagine, that of many others.

surfsister

shelovestobuystuff wrote: »

Check that you have HRP home responsibilities protection credited to your NI aco!!!! for any years when you were caring for a child.Its supposed to be automatic when you get child benefit but mine was missing for a few years.Sorted now.Not sure if its for years when you have kids under 5 or under 16?You would have to lok into that.

from the pension website

'
If you do not work or your earnings are low and you are caring for someone, you may be able to get Home Responsibilities Protection.
From April 2003, HRP is also available to registered foster carers.

Can I get it?

Do you get:

• Child Benefit in your name for a child under the age of 16, and you have told us your National Insurance number? Find out more about Child Benefit on the HM Revenue & Customs website
• Income Support and do not need to register for work, because you are caring for someone who is sick or disabled? Find out more about Income Support on the Jobcentre Plus website

If you receive one of the above, you should get HRP automatically.'

So for a child under 16 applies!

EdInvestor

baby_boomer wrote: »

What happens when one partner pops their clogs in the case of a) a married couple b) civil partners c) co-hab partners . I'm assuming both partners have their own individual full individual pension entitlement.Is there any extra pension available to the surviving partner, and if so, how much?

A spouse or civil partner ( but not a cohabitee) can inherit 50% of a partners SERPS (aka S2P) earnings- linked additional pension. You get this is you are not contracted out of it - which most people with final salary pensions will be.

After October when they finish updating the computer :rolleyes: you can get a forecast for your total state pensions by contacting https://www.thepensionservice.gov.uk

thejumpjack

About class 3 voluntary payments. I've got some from 02/03 to 06/07 to consider.
Most of the letters say that the amount will go up after a year or two and I phoned up and asked. They had gone up. I presume the 05/06 amount has not gone up yet because its not breached the tax year following the payment year etc.
What I'm confused about is. The letter stating my 05/06 shortfall didn't mention that the amount could increase as previous ones had. I also got with the 05/06 letter another letter informing me of the 2007 pensions act inwhich it mentioned "the amount of the shortfall shown in the attached letter will not go up even if you delay payment until 5 April 2012."

So I'm confused. Should my shortfalls from 05/06 and future years not increase within the six year limit or not. Also should the same be said for the previous years which have increased.

I've had a look at the goverment websites but have not found anyconfirmation that increases should not happen

Please help, thanks

dorry_2

hi :wave:

don't know if this is the right place to ask this question?? I am 44

I have just spoken to pensions forecast people and they have confirmed I have 26 years from up to years 05/06, so will have near enough 27 years by now, which is correct.:j

so in 3 years time, when i have 30, so I stop payin ni or is this for something else as well??

thanks in advance

sharnad

dorry wrote: »

hi :wave:

don't know if this is the right place to ask this question?? I am 44

I have just spoken to pensions forecast people and they have confirmed I have 26 years from up to years 05/06, so will have near enough 27 years by now, which is correct.:j

so in 3 years time, when i have 30, so I stop payin ni or is this for something else as well??

thanks in advance

If you are working and making enough to pay class 1 NI you will continue to pay it until you are 60

beany

bobmccluckie wrote: »

Furthermore surely the HRP allowance limit of 19 years is for one child. We have 3 , born since 1986, and I believe my wife gets HRP from 1986 until the youngest leaves full time education. That's 23 years, not 19. That's what her pension forecast letter says anyway.

Finally don't forget registered carers receive full protection as well for as long as they are carers.

Not sure I understand how many year HRP I can claim.
I know I need 30 years of contributions in total but have just received a letter from pension saying I can make voluntary NI contributions for missing years
Can I claim 19 years HRP, 22 years HRP or all the time I am caring for my husband ?
I have 9 years of NI contributions from working and 17 years of HRP to date.
These are from a time when I was at home with children but now because I cannot work as my husband needs constant care (he receives Attendence Allowance)
I have just read this (sorry can't do the click here thingy)...... can anyone help please? Thank you


Parents and carers

Working and caring will be recognised equally in the reformed State Pension scheme, with more women and carers being eligible for a full basic State Pension and for State Second Pension.
From 6 April 2010, more people who are not paying National Insurance contributions will be able to build up entitlement to basic State Pension and State Second Pension through a new weekly National Insurance credit. The people who will be eligible for these new credits are:

• people who are getting Child Benefit for children up to the age of 12
• approved foster carers
• caring for at least 20 hours a week for people who are getting Attendence Allowance, Disability Living Allowance (the middle or highest rate care component) or Constant Attendence Allowance
• having caring responsibilities for at least 20 hours a week for other people who need care. The details are still being developed.

People who pay National Insurance contributions for part of a tax year and qualify for the new credits for the rest of the tax year will be able to combine them to gain a qualifying year for basic State Pension and State Second Pension.
Home Responsibilities Protection (HRP), which is only given for full tax years, will be abolished. Past years of HRP (up to a maximum of 22) will be converted into qualifying years of credits which will count towards basic State Pension.

EdInvestor

beany wrote: »

I have 9 years of NI contributions from working and 17 years of HRP to date.

So a total of 26 years, needing four more to get the full basic.

You should be able to claim from 2010 under the new rules

• caring for at least 20 hours a week for people who are getting Attendence Allowance

How old are you and when are you due to retire? Assuming you can make up the extra four years from 2010- 2014 and retire later than that, there should be no need to pay for missing years now.

Check with the Pensions Service to confirm.

beany

EdInvestor wrote: »

So a total of 26 years, needing four more to get the full basic.

How old are you and when are you due to retire? Check with the Pensions Service to confirm.

thanks EdInvester
I'm 53 should retire in 2020
I phoned Pensions service a few days ago and they man I spoke to said don't both to pay voluntary NI contributions, so why, in their letter, are they suggesting I should.
I don't know if I will be able work again. Hubby over 20 years my senior and is suffering from asbestosis related lung disease so I would like to try and qualify for a pension
If I can only claim 19years HRP then I will have 28years contribution 22yrs HRP and I'm ok