Child Benefit/pension Shortfall

jimnew

my wife(age 42) has recently recieved a letter from the HMRC stating that she has a shortfall in her state pension contributions due to our son now being over 12.

I assume that this is correct?

Secondly they have informed us she has made 24 years worth of contributions and that to recieve the full pension she has to have made at least 30 years worth.

It is unlikely she will return to full time work or if she does she may not earn enough to pay nat. ins.(above £5000 if think).

Would we be better off paying the missing years now(they have asked for £554 for 1 year) or wait untill she is older ?

McKneff

I would wait, she may want to go to work later on in which case she will likey pay the balance years while she does so. She actually only needs 6 years and she has at least 25 working years in front of her.

NI is payable on wages of around £140 or so pounds a week.

I would ignore it for now to be honest.

xylophone

http://www.direct.gov.uk/en/Pensionsandretirementplanning/StatePension/DG_183802