Debate House Prices


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Nice People Thread No. 15, a Cyber Summer

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Comments

  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
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    michaels wrote: »
    Are you not already there (max state pension) with NI contributions?

    I don't know... I wasn't then they changed the rules and I was, then they changed the rules and I'm not sure.

    Started full-time aged 18, so when they changed it down to 30 years I was "in"... then they changed it to 35 years and I'm not sure what's counted/not ... or how to tell.

    Is there an easy way to absolutely know?

    P.S. I did start that previous post with "do not quote ... " :)
  • chris_m
    chris_m Posts: 8,250 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I don't know... I wasn't then they changed the rules and I was, then they changed the rules and I'm not sure.

    Started full-time aged 18, so when they changed it down to 30 years I was "in"... then they changed it to 35 years and I'm not sure what's counted/not ... or how to tell.

    Is there an easy way to absolutely know?

    Get a state pension forecast;
    https://www.gov.uk/check-state-pension

    Although if you've done your return online there may already be a link on that system to your personal tax account, which "should" have links to useful things like NI record and pension forecast.

    I don't know if there is, because I've never done a tax return online, just gone for a pension forecast which also gave me access to my tax account, as I found when they told me I had a refund to claim last year.

    If there isn't, then give the link above a try. You'll need various bits of information to get signed up through the validating partner but I found it pretty painless to sign up, even without a passport.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
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    chris_m wrote: »
    Get a state pension forecast;
    https://www.gov.uk/check-state-pension
    Poor timing by them, page says "This service is unavailable due to maintenance."
    chris_m wrote: »
    ... there may already be a link on that system to your personal tax account, which "should" have links to useful things like NI record and pension forecast.
    Bizarrely there is a link, which doesn't tell you. It says it will, but when you get there it's just a list of irrelevant information documents.

    Oh well.

    I went back and changed my submission to not pay it... I can always top it up later probably.... it's all moot really with such small sums it's neither here nor there if I pay it or not really.
  • michaels
    michaels Posts: 29,141 Forumite
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    I thought to make up a pension year cost about £700 and this would then entitle you to about an extra £200 per year 'for ever' in retirement (until you are up to the max)? I also thought there was not unlimited backdating of this extra payment so you couldn't just pay up all your missing years at age 66 so probably worth checking where you are now to work out if it is worth doing.
    I think....
  • michaels
    michaels Posts: 29,141 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I don't know... I wasn't then they changed the rules and I was, then they changed the rules and I'm not sure.

    Started full-time aged 18, so when they changed it down to 30 years I was "in"... then they changed it to 35 years and I'm not sure what's counted/not ... or how to tell.

    Is there an easy way to absolutely know?

    P.S. I did start that previous post with "do not quote ... " :)

    Did someone quote something they shouldn't have done? (innocet whistling smiley)

    With the abolition of SERPS (later called S2P) you may not need to have made 35 years as SERPS/S2P contributions count as extra years hence I am already at max dispite having only worked just over 20 years - which of course means any NI I pay now adds nothing to my pension entitlement, which is another good reason for em to try to avoid as much tax and NI as possible.

    Did I mention that next year I plan to only work 70% of a full week as my loss in total renumeration (net pay plus pension contributions) will be less than 7% for 30% less hours.....
    I think....
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
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    michaels wrote: »
    .....

    Whoosh... I really don't understand any of it at all, to be honest.

    I just know that in 10 years' time I'll be getting a state pension and that'll be it.
  • Pyxis
    Pyxis Posts: 46,077 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    edited 31 January 2017 at 7:54PM
    Ooh! Pastures! Right to the wire! :D (with your tax return, I mean!)

    Apparently, I'm due a rather nice rebate! :j
    I should get a small one for 2016/17 too, but then it'll probably all get returned to the Revenue in 2017/18 when certain stuff comes to fruition.:D


    silvercar wrote: »
    A friend has a Nissan Leaf. Says the range is vastly extended if you pootle along at 40mph. Also some parking bays in London, not only offer free parking but you can charge the car for free. There is some app on the car's satnav that tells you where the nearest charging points are, these include homes that have installed fast charging points. I think there is a kind of community spirit where you welcome other Leaf drivers to charge at your place.

    The Aygo has a 1 litre engine, motorway driving isn't fun.

    My first car was only a 1 litre, and that was the car I did 16 years up and down motorways in! :D

    It was very happy cruising at 80mph. Ok, it took half an hour to get up to 70/80, didn't like hills much, and I very rarely overtook anything on single-carriageway roads because its acceleration was like driving through treacle. It stood me in very good stead, though, carting humans, animals and a lot of possessions including, at one time, a kitchen sink!
    (I just lurve spiders!)
    INFJ(Turbulent).

    Her Greenliness Baroness Pyxis of the Alphabetty, Pinnacle of Peadom and Official Brainbox
    Founder Member: 'WIMPS ANONYMOUS' and 'VICTIMS of the RANDOM HEDGEHOG'
    I'm in a clique! It's a clique of one! It's a unique clique!
    I love :eek:



  • chris_m
    chris_m Posts: 8,250 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Whoosh... I really don't understand any of it at all, to be honest.
    I just know that in 10 years' time I'll be getting a state pension and that'll be it.

    In that case I'd strongly recommend that you keep checking that link I posted for when the system becomes active again - so you can
    a) see what they forecast you to get (*) and,
    b) see if you are short of NI contributions in case you are able to buy added years to increase the pension.

    (*) the forecast is only based on the current SP rate - the final sum is likely to be somewhat more as the SP gets uprated each year, so that's 10 years of increases according to inflation, wages or whatever the government decides to use. I can't see the triple lock lasting much longer, although the way things are going inflation will probably exceed the 2.5% part before too long.
  • Pyxis
    Pyxis Posts: 46,077 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    Re the NI and pensions, it really is worth finding out what your status is, and deffo worth paying anything you need to, to enhance your pension entitlement.

    There's always the risk, if you don't, that they might change the rules at some point, e.g. not being able to buy extra years etc., so don't take a chance on that happening. :(



    Edit...crossed post with Chris.
    (I just lurve spiders!)
    INFJ(Turbulent).

    Her Greenliness Baroness Pyxis of the Alphabetty, Pinnacle of Peadom and Official Brainbox
    Founder Member: 'WIMPS ANONYMOUS' and 'VICTIMS of the RANDOM HEDGEHOG'
    I'm in a clique! It's a clique of one! It's a unique clique!
    I love :eek:



  • silvercar
    silvercar Posts: 49,681 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    There is a link to the pension years calculator on the same page you submit a tax return.

    One and half hours on the phone to the car insurer and the car insurance is sorted. Including some time reminding them of their promise that named drivers will be credited with NCD for the time they were covered as named drivers.

    Cheapest option was to agree to move my car over to them next November! So this car is insured on its own but on a multi car policy.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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