Retirement & State Pension

valio247

Thanks to all for the comments & advice. In response to some of the advice:


pip895 - To buy the 2 partial years would cost a total of £988.60 which seems a lot just for a few extra £'s per week (although I realise in the long term it may pay for itself but personally not worth it).


xylophone - thanks for the link to the guide, very useful.



Currently I am semi-retired but still work part-time and will have contributed enough for year 2017-18.


But to return to my original post, if I fully retired and made no further NI contributions of any description before Apr 2022, would I be correct in saying that my current figure of £137.74 will not decrease in any way? (currently I assume small increases due to this years contributions and inflation).


Many thanks again to everyone.

molerat

valio247 wrote: »

pip895 - To buy the 2 partial years would cost a total of £988.60 which seems a lot just for a few extra £'s per week (although I realise in the long term it may pay for itself but personally not worth it).

In all likelihood paying up those partial years would give you nothing at all as I assume they are pre 2016.

xylophone

The amount does not decrease - for annual increase see

https://www.gov.uk/new-state-pension/how-its-calculated

valio247

The partial years are for 2012/13 and 2013/14 so no point whatsoever in paying them up. Thanks again to everyone for all comments, all is a bit clearer now.