Early retirement & the Dole (Or not)

clairbear_3

as I understand it you need 30 years NI contributions but where do you find how many youve made?? I have spent time in & out of work also exempt due to low earnings at one point.Once youve made it to 30 is there any incentive to pay more??

Linton

clairbear wrote: »

as I understand it you need 30 years NI contributions but where do you find how many youve made?? I have spent time in & out of work also exempt due to low earnings at one point.Once youve made it to 30 is there any incentive to pay more??

Have a look here to find your state pension entitlement.

There is no point in paying more after 30, but if you are working and are less than the State Pension Age you dont get the choice.

Rupert_Bear

jamesd wrote: »

If you want the dole money you are required to be looking for work. It's up to you whether you want the money and job search or not. You're entitled to contribution-based Jobseeker's Allowance for 26 weeks if you're looking for work.

Once the contribution-based Jobseeker's allowance ends your pensions will probably cause your income to be too high for income-related JSA. You may also have too much capital to qualify.

It's possible to have both pension income and JSA income.

Taking voluntary retirement from one job does not automatically disqualify you from receiving JSA provided you're genuinely looking for work. It does probably increase the chance that you'll be expected to regularly prove that you really are looking for work.

HR was probably assuming that you would not be interested in other work.

From the CAB site.

Contribution-based Jobseeker’s Allowance


Contribution-based Jobseeker's Allowance is not affected by any savings you have. However, if you have part-time earnings or an occupational or personal pension, this may affect how much contribution-based JSA you get. For example, the amount of contribution-based JSA that you get is cut pound for pound for any occupational pension that is over £50 a week. If you earn too much, you will not get contribution-based Jobseeker's Allowance at all.

You only get contribution-based Jobseeker's Allowance for yourself, so you do not get an amount for your partner if you are claiming as a member of a couple. However, you may get income-based Jobseeker's Allowance on top of your contribution-based Jobseeker's Allowance if you have a partner, or because of your personal circumstances - for example, if you are disabled or caring for a disabled person or have to pay a mortgage.

Contribution-based Jobseeker's Allowance is paid for a maximum of six months. After that, you may get income-based Jobseeker's Allowance, depending on your income and savings.

unquote.


Based on the above i was then right in thinking if I did decide to apply on the basis I was actively seeking work I would not get anything because of two private pensions.

Also I phoned the NI office today and advise as I am over 60 I automatically get Class 1 contributions.

jamesd

Yes, there's a reduction. A quick calculation suggests that if you're getting £6292 or more in pension income you wouldn't get any JSA. I don't know the pension incomes that either of you will have.

casey_junior

Do what the cute do, go on the sick, Think of it as your way of counteracting the top notchers tax avoidance schemes.