State pension for stay at home mum

ALSKALS

Hi
I have stayed home and looked after my children for the past 11 years. I have not had paid employment during this time. I am age 47 so will qualify for state pension in about 20 years time. I do not have any immediate plans to take paid employment and I am aware that I have a big gap in my NI contributions as I understand I will need to have built up 35years of contributions by the time I retire. I read something about NI credits if you claim child benefit for children under 12. I have claimed child benefit in the past, but now am unable to because of the income level of my husband.
So I guess my questions are:-

1) Will I have NI credits for the past 11 years to cover the gap I haven't worked because I have claimed child benefit.
2) Will I no longer qualify for these credits if I no longer qualify for child benefit.
3) As things are changing with the pensions in the future should I wait until that is all finalised before I make up any back payments?

Thank you for any replies.

p00hsticks

I can't answer 2) & 3) but I'm pretty sure that you will have the credits as a result of getting child benefit. Were you working before you had children ?

There's potentially a good few years credits you could have got before the age of 36.

Your best first step is probably to get a state pension forecast from DWP - you can use the link here to get one either by post or online

https://www.gov.uk/state-pension-statement

Note that as far as I am aware this currently forecasts you pension according to the current regulations, which won't be around when you retire. (It should get amended to reflect the new rules in the near future once the new regs get Royal Assent). However, it will give you an idea of how many years NI credits you've accumulated so far and then you can work out where to go from there.

atush

1, yes if your youngest child is 12 or less.

2, no
3, no, you should have your husband pay enough into his pension to bring you back into CB- even if it isn't full CB, and your youngest has not reached 12.

Once that happens, then take up self employed work of some kind (I even know those who make up jobs lol, but my local office is far to savvy for that). Bookeeping, making stuff once a year and selling at a car boot sale, whatever. Will allow you to pay SE nics which is only a few quid per week.

You should also be paying into a private epnsion for your non working years, your OH can py in 2880 for you, and the govt will bring it up to 3600 and away it will grow over time. Do this every year.

xylophone

See http://www.hmrc.gov.uk/childbenefitcharge/introduction.htm

"If you decide to stop your Child Benefit payments it won't affect your entitlement to Child Benefit. As long as you, or your partner, are entitled to receive it you should still fill in a Child Benefit claim form if you have not already done so.
This is because entitlement to Child Benefit
can also:
help you qualify for National Insurance credits that can protect your entitlement to State Pension"


Has your husband looked into increasing payments into his pension?

See http://www.theguardian.com/money/2013/sep/28/child-benefit-pension-contributions-higher-earners

And see https://www.gov.uk/state-pension-statement
and https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/181237/single-tier-pension-fact-sheet.pdf