Voluntary Class 3 NI Contributions – How to Pay

SeeMe

Goldiegirl wrote: »

I pay my NIC via my Halifax account, and the 18 digit code is just fine. If you look, the 18 digit code includes the amount you are paying, so near the start of the sequence you'll see the numbers 74100, therefore HMRC will know what year you are paying

Yes the number 74100 is there for me.

sanfairyanne

I had huge issues paying mine. I must have wasted 10 hours on the phone with the NIC office. In the end I asked if I could record the conversation. They don’t like that!
Once recording I politely explained my predicament and refused to put the phone down until I had things sorted out. Eventually I got passed on to someone in upper management who helped tremendously.
I should say that I had unusual issues that were beyond the scope of the regular staff manning the phones. It seems I’m now up to date and only have 12 more years of paying before I’ll have accrued the required 35 years.

stamboy

woolly_wombat wrote: »

Be aware that if you have opted out of SERPS/S2P in the past then it might only be worth paying voluntary NICs from 6th April 2016 onwards.

Can somebody please explain this to me as I don't understand bit to be honest.

Thanks

p00hsticks

stamboy wrote: »

Can somebody please explain this to me as I don't understand bit to be honest.

Thanks

It's related to the calculation of an individuals 'starting amount' at the time the new State Pension (nSP) was bought in on 6/4/2016. When first introduced, a calculation of pension to date was done for everyone using both old and new rules, and the higher of the two amounts became that persons 'starting amount' at 6/4/16.

Depending on the figures going into those calculations, buying any missing NI years prior to 2016-17 may or may not have any benefit in terms of increasing your eventual state pension amount.

If you have a particuar case in mind and you post the details from your personal state pension forecast (how many years obtained to date, what years are missing, current and predicted pension amount, years still required, COPE amount) then people can advise further.

jsinc

stamboy wrote: »

Can somebody please explain this to me as I don't understand bit to be honest.
Thanks

Royal London have a decent explainer/flowchart:
https://www.royallondon.com/media/good-with-your-money-guides/topping-up-your-state-pension/

stamboy

jsinc wrote: »

Royal London have a decent explainer/flowchart:
https://www.royallondon.com/media/good-with-your-money-guides/topping-up-your-state-pension/

Very useful article many thanks

SeeMe

OldBeanz wrote: »

Checking my diary I paid on 26/4 and was advised to check three weeks later, finding my record had been updated.

Sent mine by faster payment 5 weeks ago, no update showing yet so will probably give them a ring next week.

newleaf

SeeMe wrote: »

Sent mine by faster payment 5 weeks ago, no update showing yet so will probably give them a ring next week.

Good luck getting to actually speak to someone! I've been trying for days. You go through all the voice recognition security checks only to be told after 3.5 minutes 'Sorry, we're unable to deal with your call right now. Goodbye!'
The BACS payment I made at the beginning of July is not recorded in my records, and since it was a hefty wad of money, I'd really like to see it evidenced!

newleaf

Finally, my NI record has been updated this week with the large online payment I made at the beginning of July.
I sent a direct debit form off at the same time, for ongoing contributions, and that still hasn't been actioned.

molerat

Have the goalposts been moved or is there a bit of misinformation on the.gov page re contributions cost for 2010-16 ?
https://www.gov.uk/voluntary-national-insurance-contributions/rate
Certainly does not tally with what was previously published re the 2019 cut off or what my NI record states.