NI question

NeverEnough

I'm being made redundant from a senior position at the end of November. The size of the redundancy package will mean I'm not entitled to JSA, nor would I need this, but I wondered about the NI credits as I am short on NI contributions as it is and am 53 years old, so 12 years to retirement (if I manage to get another job that is!!!)

Does anyone have any advice on this for me? I have approx £10K savings.

p00hsticks

NeverEnough wrote: »

The size of the redundancy package will mean I'm not entitled to JSA, nor would I need this,

I'm not an expert, but my understanding is that, unless you will be getting a pension (and you sound too young for that) then, providing you have made enough NI contributions in the previous two qualifying years and you are actually looking for a job, you'll be entitled to six months contributions based JSA, regardless of the level of savings or redundancy you have. Claiming JSA will give you a NI credit. Once the six months is up, your savings and redundancy payout means that you're unlikely to qualify for any money from income based JSA, but you can continue to sign on (providing you are looking for work) in order to continue getting NI credits.

Horseunderwater

NeverEnough wrote: »

I'm being made redundant from a senior position at the end of November. The size of the redundancy package will mean I'm not entitled to JSA, nor would I need this, but I wondered about the NI credits as I am short on NI contributions as it is and am 53 years old, so 12 years to retirement (if I manage to get another job that is!!!)

Does anyone have any advice on this for me? I have approx £10K savings.

Go to direct gov site and do a proper pension forecast as you may only need 30 years now under new rules, You are only 2 years older than My OH who is 51.
You can pay extra NI into system if you need to, there is info on that site about who to contact about it all.
And yes you can indeed sign on and not get actual money to keep up NI levels, Job centre can tell you over phone. You should be able to find the nearest office that would deal with your claim from same site.
Could you go self employed with the skills you have and freelance it, rather than get a job?
Frances

NeverEnough

Thanks for the advice so far. Yes, I can and probably will, go freelance as a contractor again instead of getting a job - this was my first salaried position in some years and didn't actually last as long as some of the contracts I've done over the years it just proved too expensive for the company, who had to make cuts to keep going.

I am just anxious about the NI bit, I don't want to claim JSA I would rather the benefits were actually used for people in more difficult financial situations, but I would appreciate the NI time being credited, trouble is as a freelance, there is no NI credit given.