bill

mobomo

My wife (D.O.B 22/8/47) stopped working 2 1/2 years ago. She does not claim any benefits at all and she pays about £90 quarterly national insurance for her state pension. She recieves a firms pension of £189 monthly and has £13500 in an ISA from which she is taking £250 monthly to live on. (This is roughly what her projected state pension is if she keeps paying the £90 national insurance 'till she is 60. What I would like to know is, is it worth paying this money in view of the fact that pension credit can now be applied for. We both appreciate that she could claim unemployment benefig etc' but would rather manage on our own..Thanks in advance for any advice.

Bill

dunstonh

It is unlikely pension credit would apply when you are both on state pension as it is household income they look at and not individual.

Your household income would need to be less than £160.95 a week. By the time you take the state and firm pensions into account then you would be over the limit based on what you have said here. Until state pension kicks in, it is quite possible you are below the limit.

As for whether she should stop? don't know. It depends on how much extra pension those contributions are buying her. Plus there is your pension to take into consideration and you dont mention your age.

mobomo

dunstonh wrote:

It is unlikely pension credit would apply when you are both on state pension as it is household income they look at and not individual.

Your household income would need to be less than £160.95 a week. By the time you take the state and firm pensions into account then you would be over the limit based on what you have said here. Until state pension kicks in, it is quite possible you are below the limit.

As for whether she should stop? don't know. It depends on how much extra pension those contributions are buying her. Plus there is your pension to take into consideration and you dont mention your age.

Thank you for the reply. I worked out that if she lives to be over 75 she'll be in pocket. So I'll carry on paying and hope she lives to a ripe old age. Oh! I'm 67 and recieve State pension, Army pension and a little pension from work. Again Thank you