Opt out of state pension?

Adly812

Can you opt out of paying state pension national insurance contributions? Say you didn’t want to receive a state pension at retirement age, could you opt out of contribution or is it something every working individual has to pay into?

westv

Why would anybody be so stupid?

dunstonh

Can you opt out of paying state pension national insurance contributions?

NI doesnt just go towards the state pension. No you cant.

It wouldnt be cost effective to do so either.

Adly812

Westv, maybe because that person won’t reach pension age... instead of them being stupid, maybe your being ignorant and rude

AnotherJoe

Smb3088 wrote: »

Can you opt out of paying state pension national insurance contributions? Say you didn’t want to receive a state pension at retirement age, could you opt out of contribution or is it something every working individual has to pay into?

The latter.

lisyloo

No you can’t.

It’s a bit like a mandatory insurance scheme.
Some don’t get to claim, some claim a little, some claim a lot.
It’s based on need.
Those who aren’t alive, don’t need money to live on.

westv

Smb3088 wrote: »

Westv, maybe because that person won’t reach pension age... instead of them being stupid, maybe your being ignorant and rude

Me? No, not really.

Lisbon

Smb3088 wrote: »

Westv, maybe because that person won’t reach pension age... instead of them being stupid, maybe your being ignorant and rude

Having been watching recent answers on this board, it seems to be a growing trend. A small clique of regulars seem to assume that those posting are being deliberately stupid, naive etc and answer accordingly. Doesn't seem to have occurred to them that many of those asking for answers are doing so precisely because they don't know, and are hoping for enlightenment, not a put down. Perhaps the posters in question should give themselves a breather if they are tired of answering politely and constructively?

atush

Smb3088 wrote: »

Westv, maybe because that person won’t reach pension age... instead of them being stupid, maybe your being ignorant and rude

If they ownt make pension age, that might be die to ill health or perhaps criminal activity. Compensation for which, in free health care (and you should be ashamed to know how much that costs elsewhere) and crimial comepnsation/social wealfare is included in NI.

It is a fallacy it pays for just pensions.

DairyQueen

There used to be a (semi) opt-out scheme for one sector of society. it was referred to as the 'married woman's stamp' and was withdrawn sometime in the 1970s. I have yet to meet a woman who paid reduced NI contributions and who hasn't since regretted it. This includes almost every female in my extended family who is now over 70.

EDIT: I should have said "withdrawn for new entrants in the 1970s".

Dox

Perfectly sensible question - clearly asking for information, not abuse.

It used to be possible to opt out (technical term was contract out) of the state additional pension (SERPS/S2P) and vast numbers did so until contracting out was finally abolished fairly recently. Maybe westv simply didn't know this when posting his/her response.

It's never been possible to opt out of the basic state pension if you are working and earn above a certain minimum level (revised each year).