Self employed

Moashmo

Although I started employment at age 17,I have been self employed for many years, about 40 in fact. I paid the NI as 'self- employed' which I think will only give me the basic pension, Can I boost my pension by increasing the NI for the remaining 4 years of my working life for retirement at 65?

CLAPTON

you need 35 years contribution to get the max state pension from 2017, 30 years before then

atush

No you can't 'boost your SP in this way. There are a few options for you. have you ever paid into a Personal pension? Do you have any savings or investments? What types? you could pay into a PP for a few years. Won t' be much, but it will give you a 25% TFlump sum, plus some pension to use up your personal allowance so will be tax free (as your allowance is higher than the state pension).

you can boost your SP by deferring it (ie not taking it but continuing to work). This currently pays and excellent 10.2% per year, but will lower when the new pension comes in.