NI and Pensions

Uplander1111

I am being made redundant in May. In June I will be 60 and I can draw an occupational pension. At this stage I do not plan to work as I will be a house husband. It seems NI is only payable on earned income but where will that leave me regarding the state pension? Should I be making some form of voluntary NI payment to maintain my state pension?

Any help much appreciated.

jem16

Uplander1111 wrote: »

Should I be making some form of voluntary NI payment to maintain my state pension?

Any help much appreciated.

That depends on the number of years you already have. If it's 30 years or more there is no need.

Uplander1111

Thanks Jem16 - life is rarely that straightforward.:)

atush

and if not, why not claim benefits like Jobseekers so you keep up your NICs?

FLAPJACK

You can obtain a balance of your NI contributions, if you are short you can buy NI contribution stamps to make up the difference. If you ask for a State Pension forecast and it tells you that you are due a full SP then you have paid enough NI contributions... if you don't want to get a forecast then if you have been working for 30 years then automatically....you have hit the target...as jem16 says.

You can as "atush" says try to claim the JS allowance....but to get this you have to apply for 5 jobs a week..or month not sure.

Uplander1111

Many thanks all - I have 42 years so all seems ok.

Thanks again.

McKneff

Uplander1111 wrote: »

Many thanks all - I have 42 years so all seems ok.

Thanks again.

And you'll get (at the present rate) the princely sum of £107 a week. Plus and SP2 you may be entitled to.

Life sometimes is that simple.