Paying voluntary NI contributions?

kldubbleu

Hi, just wondering if anyone here can help?

I'm 37 and currently have 8 years where I didn't contribute enough NI and I want to know if it's worth making up the shortfall? Apparently I can only pay for the last 6 years and make up the shortfall as follows (at 2018/19 rates):

2008/09: £318
2009/10: 278.25
2010/11: £144.60

There are also gaps from 2000/01 to 2004/05 which are saying it's too late to pay for (although other posts on here have said I might be able to pay these too?).

I have 13 years where I paid enough and my SP forecast is currently £68 pw (with 31 years left to contribute until 5 April 2049 and a forecast of £164.35 if I contribute for another 21 years).

I called the future pensions centre who were very helpful but I'm still confused as they really only told me what it says on my NI record and what I already knew (that paying will mean I have to contribute another 18 years instead of 21).

Thanks in advance for any help.

molerat

There are also gaps from 2000/01 to 2004/05 which are saying it's too late to pay for (although other posts on here have said I might be able to pay these too?).

Where have you seen that ? You can currently only pay back to 2006 up until April 2023 with the price increasing after tomorrow, normally you can only pay back 6 years.



With less than 30 pre 2016 years held buying those will definitely add to your pension. You have 31 years left to accrue another 21 so 10 years spare, only you can make the call on whether paying that £740.85 is worth it. Bare in mind that if you step out in front of a bus that money is gone !