Is it worth me making contributions

JMOW

I am 52 years old female and finished working a year ago when we moved location - I have 35 years of NI Contributions from my working life - would it be worth me making voluntary contributions ? really have no idea other than before I finished work I requested a pension forecast which said I would be entitled to the full Basic State Pension !! I do not receive any benefits of any kind - (kept wife lol)

Dazed_and_confused

Basic State Pension ended in April 2016.

You can get an upto date forecast today on your personal tax account on gov.uk.

You really need to post the full details from that.

JMOW

Thanks got all info I need from the Gov.uk site you suggested - not worth paying more contributions in my case

atush

You can however put 2880 into a PP or Sipp, and it becomes 3600 with TR (even if you dont pay any tax).

Audaxer

JMOW wrote: »

Thanks got all info I need from the Gov.uk site you suggested - not worth paying more contributions in my case

Are you forecast to get the maximum £159.55 per week?

Jerben

Audaxer wrote: »

Are you forecast to get the maximum £159.55 per week?

OP
Does the forecast assume that you will continue to pay further NI contributions?
Be very careful with the wording on the forecast!

xylophone

Do you expect to receive an occupational pension?

If so, was the scheme contracted out?

What exactly did your new state pension statement say?

https://www.gov.uk/check-state-pension

Even if you now have no relevant earnings, you can still contribute up to £2880 to a personal pension and receive tax relief of £720.

badmemory

JMOW wrote: »

I am 52 years old female and finished working a year ago when we moved location - I have 35 years of NI Contributions from my working life - would it be worth me making voluntary contributions ? really have no idea other than before I finished work I requested a pension forecast which said I would be entitled to the full Basic State Pension !! I do not receive any benefits of any kind - (kept wife lol)

You don't want the full basic state pension you need all the NEW state pension. If you don't have enough there are ways of earning NI credits that cost nothing & can make it up. Please check the wording carefully as already suggested.

margih

I do not earn enough to pay NI . I have 44 years up to April 2016 I want to know if I can claim tax credits but keep getting told that I need to sign on . But I am employed as a casual library assistant so this is not an option. How can I claim any further NI credits

p00hsticks

margih wrote: »

I do not earn enough to pay NI . I have 44 years up to April 2016 I want to know if I can claim tax credits but keep getting told that I need to sign on . But I am employed as a casual library assistant so this is not an option. How can I claim any further NI credits

Have you got a state pension forecast yet ?
https://www.gov.uk/check-state-pension

This will give you some idea of what gaps you have in your record.

Once you've got that come back with what it says (I recommend starting a new thread of your own) and people should be able to suggest some possible options if needed.

margih

My pension forecast is very confusing In big numbers at the top it says that on 10.8.2022 it is 159.55. Then underneath it says I need to contribute to reach this forecast and based on my record to 2017 it is 141.90. If I contribute for the next 4 years it will be 159.55. But I don't earn enough !! I have posted a new thread to see if there is any way I can get credits as a low earner.