Paid 42 years National Insurance. Can I get any back?

McKneff

schrodie wrote: »

Thanks now to the tories all those years of paying into the system will in most cases only get you one year of sickness benefit!

The amount of years you pay into the system is irrelevant to any amount of sickness benefit you receive.

It's qualifying years (2 of them) that entitle you to sickness benefit for as long as you need it.

And its got nothing to do with the Tories......

Dunroamin

Ageing_Stick_Insect wrote: »

The higher state pension that comes into play in April 2016. Or is it £144p/w?

But you retire at the end of this month so you'll be on the current system.

ETA

Ignore me, I'm half asleep and misread your first post - apologies.

Brassedoff

Congratulations on your retirement and well done on being able to contribute to our society by so much. I won't rake over what others have said, save to say NI when you started work and finished it cover totally different things. It's a tax nowadays in anything but name.

Just like UKIP say. It is. Pity you don't get an extra £10 or so a week in recognition of your contribution.

Enjoy retirement, how long do you think you'll manage before wanting to return to some type of work? It's a habit folk like you cannot break and others cannot be bothered to get.

Macca83_2

Ageing_Stick_Insect wrote: »

but I've paid far more into the system than I'll get out

Is it fair for me to feel annoyed by that statement?

Im 29. I've worked since I was 16. I don't know if there will be a state pension for my generation. Can I stop paying because I don't know if I'll get what I put in...

p00hsticks

Ageing_Stick_Insect wrote: »

. At least I qualify (by a month) for the higher £140pw.

don't be foiled by the spin - the aim of this change is not just to simplify the state pension, but to eventually pay out less not more.

As Dunroaming says, if -as you say in your first post - you are retiring at the end of this month - you'll be on the existing system. If you are you might find that you have additional second pension (SERPS) contributions that may take you pension well over the current basic rate of around £110 and above the new £144 flat rate.

If you fall under the new system, then you will not necessarily get the full £144 being touted - if you have been "contracted out" of the second pension at any point in your working life deductions will be made. If you fall under the new system and would have been better off under the old, then transitional rules should ensure you are no worse off.

You should get a pension statement to see what additional pension you have earned.

FBaby

Remember that the next generation will probably contribute even more and yet will most likely get nothing at all at the end, having to live on their private contributions.

Ageing_Stick_Insect

Brassedoff wrote: »

Congratulations on your retirement and well done on being able to contribute to our society by so much. I won't rake over what others have said, save to say NI when you started work and finished it cover totally different things. It's a tax nowadays in anything but name.

Thanks! I agree we pay far more now than in earlier decades. Income Tax was 33% in the 70s, now it 20% but the load has switched to NI.

Just like UKIP say. It is. Pity you don't get an extra £10 or so a week in recognition of your contribution.

A nice thought.

Enjoy retirement, how long do you think you'll manage before wanting to return to some type of work? It's a habit folk like you cannot break and others cannot be bothered to get.

I have hobbies that will keep my mind active so don't feel the need to return to work. I've been used to an office environment all my life so working in retail for example would probably be a complete shock!

Ageing_Stick_Insect

Macca83 wrote: »

Is it fair for me to feel annoyed by that statement?

I didn't say it to generate a reaction. It's a statement of fact. I don't feel particularly aggrieved I've paid into a system I've got very little out of (so far).

Im 29. I've worked since I was 16. I don't know if there will be a state pension for my generation. Can I stop paying because I don't know if I'll get what I put in...

Good for you. I hope you stay in work until you're my age. Of course there will be a state pension for you. Remember it's now being revamped after years of neglect. Providing you have a work-related pension the state one will supplement it nicely.

Ageing_Stick_Insect

p00hsticks wrote: »

don't be foiled by the spin - the aim of this change is not just to simplify the state pension, but to eventually pay out less not more.

You're entitled to your opinion. Simplification doesn't mean less. It just means fewer rules and multiple allowances.

[qyote]As Dunroaming says, if -as you say in your first post - you are retiring at the end of this month - you'll be on the existing system. If you are you might find that you have additional second pension (SERPS) contributions that may take you pension well over the current basic rate of around £110 and above the new £144 flat rate. [/quote]
I'm retiring from work as I've passed the minimum retirement age set by my employer. I don't reach 65 until 2016. I suspect despite my contributions (and income in 2016) I will only receive the state pension of £144 pw.

If you fall under the new system, then you will not necessarily get the full £144 being touted - if you have been "contracted out" of the second pension at any point in your working life deductions will be made. If you fall under the new system and would have been better off under the old, then transitional rules should ensure you are no worse off.

You should get a pension statement to see what additional pension you have earned.

I haven't knowingly been contracted out. I'll check the pension statement, thanks.

clemmatis

MissMoneypenny wrote: »

The other is that perhaps benefit claimants' should "be thankful"to people like this, for working all those years.

Presumably they were PAID for working.

And presumably you still haven't realised many benefits claimants are EMPLOYED.