Paying missing NICs reduced my pension

greenglide

I had suspicions that you work for DWP or hmrc,

No I don't, and I never have.

I do know some people who do though!

soft_toy

Thanks very much molerat and xylophone

My original post mentioned that my forecast had gone down since filling a gap in my past NICs record. Please tell me there is no way it could have had an adverse affect and it is just as molerat said that they may have been using uprated figures in the latest quote.

Moving on and chalking that up to experience..

So the bottom line is, 35 full years of NI contributions means you cannot improve your starting point because it is already at the New State Pension level.
I suppose in my case it is then reduced because I paid a reduced level of NIC for the years I was contracted out.
Have I got it?

It's a shame the pensions site doesn't make it clear because it said regarding my pension quote:

How to increase it.
1. Fill gaps in your National Insurance record
You have years on your National Insurance record which do not count towards your State Pension. You may improve your forecast by filling them.

Because of this we have checked my wife's forecast.
She has 37 years of full contributions but is also being given the same information.
Without the information from you guys we might have been tempted to fill some previous gaps.

My wife no longer works and her forecast states based on current contributions she will receive £120.95 but if she continues to contribute this rises to £149.40. (pension date is March 2023)
So from the advice previously given we should ignore the previous gaps in her record (pre 2016 and concentrate on filling gaps between now and 2023. Does that seem reasonable?

Thanks guys for all the help and info so far.

sdfuk

Hi

I have only paid 14 (qualifying) years NICs as I have stayed at home looking children. My NI record shows that I can back pay up to 9 years of NICs.

As my wife is a high earner we do get child benefit and therefore NI credits do not apply.

What are my options to get the full state pension? Pay all of the missed years and carry on paying thereafter? Or will HM Revenue look at the contributions my wife has made and transfer these to me?

Thanks for any help
S

Mojisola

sdfuk wrote: »

As my wife is a high earner we do get child benefit and therefore NI credits do not apply.

Assuming you mean you don't get CB -

Yes, they do.
https://www.gov.uk/national-insurance-credits/eligibility
You’re a parent registered for Child Benefit for a child under 12 (even if you don’t receive it)
You get Class 3 credits automatically

xylophone

My wife no longer works and her forecast states based on current contributions she will receive £120.95 but if she continues to contribute this rises to £149.40. (pension date is March 2023)
So from the advice previously given we should ignore the previous gaps in her record (pre 2016 and concentrate on filling gaps between now and 2023. Does that seem reasonable?

See https://forums.moneysavingexpert.com/discussion/comment/70541348#Comment_70541348

and check links post 4 and post 10.

soft_toy

Once again xylophone THANK YOU.
You're an absolute star and a beacon of light in this fog of confusion,misinformation and ignorance.

I am sure the "truth is out there" somewhere........ the problem is finding it, so thanks again for your very specific directions

Shame this level of detail and information isn't available on the Government sites.

atush

sdfuk wrote: »

Hi

I have only paid 14 (qualifying) years NICs as I have stayed at home looking children. My NI record shows that I can back pay up to 9 years of NICs.

As my wife is a high earner we do get child benefit and therefore NI credits do not apply.

What are my options to get the full state pension? Pay all of the missed years and carry on paying thereafter? Or will HM Revenue look at the contributions my wife has made and transfer these to me?

Thanks for any help
S

AS the child carer, the CB should be in YOUR name, not hers. As you will get NICS from this up until the youngest child reaches 12. After that, you have to work or pay voluntary contributions (or be claiming some sort of benefit).

xylophone

You're an absolute star and a beacon of light in this fog of confusion,misinformation and ignorance.

Thanks, but I think this compliment actually belongs to Snowman who has done all the work!:)