State Pension

wkt54

Hi

I will be 66 on 15 November 2020 and due the State Pension.

I have just checked my forecast for the first time.

It says I have contributed 33 years, and am 2 years short, which I can pay.

But I don't see how to do this.

I will be in Egypt for a few months so will not be able to phone them.

Can someone tell me how I can pay the 2 years.

Thank you

Browntoa

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

Dazed_and_confused

Before doing anything are you able to say what your current forecast is and what the 2 years additional contributions would entitle you to?

I think someone under what are effectively transitional rules at the moment could have the maximum with 33 years contributions.

Browntoa

In particular

https://www.gov.uk/pay-voluntary-class-3-national-insurance

If not self employed

xylophone

What exactly does the forecast say?

wkt54

Thank you for your replies.

It says I will receive 133 pounds a week.

Then it mentions 142 and 157, but I don't know which one I would receive if I paid the 2 years.

The 2 cheapest years are 350 and 400.

Thanks

xylophone

It says I will receive 133 pounds a week.

Then it mentions 142 and 157, but I don't know which one I would receive if I paid the 2 years.

But what exactly does it say?

Try this

https://www.royallondon.com/siteassets/site-docs/media-centre/good-with-your-money-guides/topping-up-your-state-pension-guide.pdf

molerat

wkt54 wrote: »

Thank you for your replies.

It says I will receive 133 pounds a week.

Then it mentions 142 and 157, but I don't know which one I would receive if I paid the 2 years.

The 2 cheapest years are 350 and 400.

Thanks

You need 5 years to make it up to the £157.

You currently have (at April 18 ?) £133. 18-19 and 19-20, years going forward, will get you to £142. There are 3 prior years available, purchasing those will bring you up to £157 which is the maximum you can achieve.

More exact detail, including any COPE amount, from your forecast needed though.

wkt54

Hi Xylophone

This is what it says

estimate based on your National Insurance record up to 5 April 2018
£133.19 a week
Forecast if you contribute until 5 April 2020
£142.58 a week
You can improve your forecast
You have shortfalls in your National Insurance record that you can fill and make count towards your State Pension.

The most you can increase your forecast to is
£157.68 a week

Molerat

So if I pay 2 years I will get 142 pounds a week?

16/17 is 733 pounds and 17/18 744.

The last 5 years is in total 3600 pounds.

I don't think I will bother paying and just get the 133.

Thank you for your help

molerat

Not paying the extra, unless you have a very short life expectancy, is a short sighted move. The payback of capital, especially if they are part full years, is less than 4 years, way better than any annuity you could buy.

wkt54

I misunderstood at first.

I will not be contributing 18/19 or 19/20.

I am in Egypt and am living of my work pension.

If I pay 741 pounds for 17/18 and 733 for 16/17, will I get 142?

Am I able to do that now or must I wait until after I start getting the pension?

Thanks