Question re NI/State pension

Legacy_user

I am 61 in June and will get my state pension at 66. The last few years, since 2015 ish, I have only worked part time and not earning enough to pay NI. I also had a few years like that earlier in my working life. My pension prediction shows that I don't quite have enough NI contributions to get full state pension. Does anybody know if/how I can go about paying NI, even though I don't earn enough, in order to get my full pension.

jools1985

Hi,

Do you know how many years you are short by? You will be able to a Voluntary Class 3 contribution

https://www.gov.uk/voluntary-national-insurance-contributions

Do you look after grandchildren while their parents work? If so you may be eligible for Specified Adult Childcare Credits

https://www.gov.uk/government/publications/national-insurance-application-for-specified-adult-childcare-credits-ca9176

xylophone

My pension prediction shows that I don't quite have enough NI contributions to get full state pension.

What exactly does your state pension statement say?

Read https://www.royallondon.com/Global/documents/GoodWithYourMoney/TOPPING-UP-YOUR-STATE-PENSION-GUIDE.pdf

taxaid.org.uk/guides/information/an-introduction-to-income-tax-national-insurance-and-tax-credits/national-insurance/national-insurance-for-employees-and-employers/national-insurance-thresholds

System

jools1985 wrote: »

Hi,

Do you know how many years you are short by? You will be able to a Voluntary Class 3 contribution

https://www.gov.uk/voluntary-national-insurance-contributions

Do you look after grandchildren while their parents work? If so you may be eligible for Specified Adult Childcare Credits

https://www.gov.uk/government/publications/national-insurance-application-for-specified-adult-childcare-credits-ca9176

Says I need to contribute another 2 years by 2023.
No, I only have grandchildren occasionally. That is not the reason I work part time.

System

xylophone wrote: »

What exactly does your state pension statement say?

Read https://www.royallondon.com/Global/documents/GoodWithYourMoney/TOPPING-UP-YOUR-STATE-PENSION-GUIDE.pdf

taxaid.org.uk/guides/information/an-introduction-to-income-tax-national-insurance-and-tax-credits/national-insurance/national-insurance-for-employees-and-employers/national-insurance-thresholds

Says I need to contribute another 2 yes before 2023. I will have to find out how to do that voluntarily, as I am not going to be increasing my hours at work.

xylophone

Says I need to contribute another 2 years by 2023.

Contribute or be credited? See

http://taxaid.org.uk/guides/information/an-introduction-to-income-tax-national-insurance-and-tax-credits/national-insurance/national-insurance-for-employees-and-employers/national-insurance-thresholds

If you earn between the Lower Earning Limit and the Primary Threshold you will get National Insurance ‘credits’ – that is you will be entitled to some basic National Insurance benefits, but won’t actually pay any National Insurance. These limits are respectively £113 and £157 per week for 2017/18.

Otherwise see link to Royal London booklet.

System

xylophone wrote: »

Contribute or be credited? See links in previous - you aren't eligible for credits?

Says contribute....

System

Gosh..this is complicated...lol.

molerat

ploppy57 wrote: »

Says contribute....

What is says and what it means can be very different.

As above, if you earn more than £113 per week you get credited with contributions.

If you are not being credited then their may be some scope for filling some pre 2016 part years if available, again the Royal London link gives the details.

System

Well it actually looks as though I owe 2 years at the moment but will actually owe 6 years by the time I retire as I have no plans to work extra hours.

jools1985

ploppy57 wrote: »

Well it actually looks as though I owe 2 years at the moment but will actually owe 6 years by the time I retire as I have no plans to work extra hours.

Probably not. If you are 2 years short now of having a full state pension you will remain 2 years short. The time frame doesn't lengthen. Does your pension statement say you currently have 33 qualifying years? Does it show you what you would receive now and at age 66 (it should).

As stated above you may have some part paid years which you could pay the shortfall for. You may only be a few weeks short on some of the older years. If you can give us more information as to what your statement says we may be able to help you