Shortfall in National Insurance Contributions

seven-day-weekend

But your State Retirement age is going to be at least 65, which means you have over twenty years to work six more.

Even if you are out of work and signing on you will get NI credits, which will count towards your Pension.

wonderman

And in any event if you are receiving child allowance in your name then that counts anyway - so you are going to get 6 years anyway. No need to pay anything at all.

wonderman

seven-day-weekend wrote: »

Wonderman, they know that she has been bringing up children if she has been receiving Child Benefit, that's why it should be in her name.

I think if her retirement date is after 6th April 2010, then she can only claim a maximum of twelve years for bringing up children (but I may be wrong here).

Best thing to do is get a Pension Forecast which will tell her what she needs to know (see link below).

http://www.thepensionservice.gov.uk/state-pension/forecast/home.asp

I did that thanks and it works very well - got the password and within 5 minutes I had checked and my wife has already got the 30 years max.

alias2

My wife will retire at 60 in October 2009. She will only have a maximum of 32 years contributions.
I will retire in November 2011 and already have well over 40 years contributions.
Will it be worthwhile for my wife to pay for any possible missing years?
If she does not, will our joint pension be reduced when I retire?
Thanks for any help.

jancee_2

alias2 wrote: »

My wife will retire at 60 in October 2009. She will only have a maximum of 32 years contributions.
I will retire in November 2011 and already have well over 40 years contributions.
Will it be worthwhile for my wife to pay for any possible missing years?
If she does not, will our joint pension be reduced when I retire?
Thanks for any help.

If she has 32 out of 39 required years that is 82% of basic state pension - more than the 60% she could claim when you claim your pension. So paying additional years would be well worth it if she has any gaps in her recent work history.

You get pensions in your own right - it wouldn't be reduced.

fiftyeighter_2

Hiya to everyone. I wonder if there is someone out there who can help me.
I am a women due to retire next year. But my partner will only be 49. (Yes he's my toy boy) lol.
What I want to know is does this affect my pension at all? I appreciate the advice. Thank you.

alias2

jancee wrote: »

If she has 32 out of 39 required years that is 82% of basic state pension - more than the 60% she could claim when you claim your pension. So paying additional years would be well worth it if she has any gaps in her recent work history.

You get pensions in your own right - it wouldn't be reduced.

OK My wife now has her pension forecast - 27 years of contribution yielding 70% pension entitlement.
The missing years were during 1973to 1986 when the kids were small. I guess there is nothing that she can do now.
Although, I seem to remember some kind of NI allowance for child care, or am I dreaming it?

seven-day-weekend

fiftyeighter wrote: »

Hiya to everyone. I wonder if there is someone out there who can help me.
I am a women due to retire next year. But my partner will only be 49. (Yes he's my toy boy) lol.
What I want to know is does this affect my pension at all? I appreciate the advice. Thank you.

If you have paid or been credited with enough full contributions his age will not affect your entitlement.

Get a Pension Forecast here:


http://www.thepensionservice.gov.uk/state-pension/forecast/home.asp

It will tell you what your entitlement is.

seven-day-weekend

alias2 wrote: »

OK My wife now has her pension forecast - 27 years of contribution yielding 70% pension entitlement.
The missing years were during 1973to 1986 when the kids were small. I guess there is nothing that she can do now.
Although, I seem to remember some kind of NI allowance for child care, or am I dreaming it?

Yes, there is Home Responsibilities Protection for those looking after children and not earning anything/enough to pay NI from 1978 onwards. They must have been paying full NI (not married women's stamp) immediately before and have been in receipt of Child Benefit. HRP is paid for a maximum of 19 years.

I am assuming your wife's retirement date is before April 6th 2010. If it is on or after this date the rules are different.

If you think your wife should have been eligible for this, contact the Pension Service.


http://www.thepensionservice.gov.uk/atoz/atozdetailed/homeres.asp

alias2

Thanks for that, she retires @ 60 in October this year. She needs to phone them up.
Cheers