National Insurance Stamps

benidorm59

This is causing great confusion at my knitting club. Several friends there are due to turn sixty and of course have to continue working till the designated retirement age. One has been told she will not have to pay stamp out of her wages after her sixtieth birthday. Is this true TIA

comeandgo

You pay national insurance, if your wage is over the lower limit, until you reach retirement age, which used to be 60 for women but now it's whatever your retirement age is.

benidorm59

After she said this I have been putting some figures into the calculator on this page and it seems to confirm this as well or I must be doing it wrong

TELLIT01

I wonder if there is some confusion between the number of years NI contribution required for full pension, and retirement age. I believe you continue paying NI up to state retirement age irrespective of whether you have contributed enough for full pension or not.

Cat_Loving_Lady

National insurance isn't just for pensions it's also for healthcare. If she earns above the tax threshold she will continue to pay NI until she retires.

Dazed_and_confused

National insurance isn't just for pensions it's also for healthcare. If she earns above the tax threshold she will continue to pay NI until she retires.

Not necessarily. If she continues to work after State Pension age she will stop having NI deducted if she earns over the amount where it would normally be deducted.

One has been told she will not have to pay stamp out of her wages after her sixtieth birthday. Is this true TIA

No. It is her State Pension age which matters.

Dazed_and_confused

I wonder if there is some confusion between the number of years NI contribution required for full pension, and retirement age. I believe you continue paying NI up to state retirement age irrespective of whether you have contributed enough for full pension or not.

Given the op's age they will be under transitional rules so there is no "number of years". That only applies to those starting their State Pension journey from April 2016.

The op should check their current State Pension entitlement on gov.uk so they understand what they have built up so far and what additional contributions might add.

Brynsam

benidorm59 wrote: »

This is causing great confusion at my knitting club. Several friends there are due to turn sixty and of course have to continue working till the designated retirement age. One has been told she will not have to pay stamp out of her wages after her sixtieth birthday. Is this true TIA

Told by whom...?

Have a read: https://www.gov.uk/national-insurance

Dazed_and_confused

A woman down the knitting club makes a change from man down the pub

General_Grant

benidorm59 wrote: »

This is causing great confusion at my knitting club. Several friends there are due to turn sixty and of course have to continue working till the designated retirement age. One has been told she will not have to pay stamp out of her wages after her sixtieth birthday. Is this true TIA

Good heavens, when did we stop paying for NI stamps?! (1975, I've just checked.) So probably none of those approaching their 60th birthday ever paid for a stamp.

What do you mean by "designated retirement age"? There's a state retirement age, employers may have used a different age but now, in general, we can't be forced to retire at any age. On the other hand, nobody is forcing people to work beyond the age they want to.

Xbigman

General_Grant wrote: »

Good heavens, when did we stop paying for NI stamps?! (1975, I've just checked.) So probably none of those approaching their 60th birthday ever paid for a stamp.

What do you mean by "designated retirement age"? There's a state retirement age, employers may have used a different age but now, in general, we can't be forced to retire at any age. On the other hand, nobody is forcing people to work beyond the age they want to.

When I was part time self employed in 1989 I didn't realise that I needed to pay NI in my main job plus pay again in my self employed job. I was sent a card to put stamps on with a snotty letter telling me to catch up. Stamps were certainly still around in the late 80's.


Darren