National insurance contributions

Madeinireland

Hi,

My wife is three years short of a full pension. I had read somewhere that it wasn’t worth paying for additional years prior to 2016 as that wouldn’t really add any value to your pension and that therefore you should only pay for years after 2016. My wife has an almost full year (£90 short) in 2013/14.

This morning I read a post where I understand the government as part of the new arrangement allows you upto 2023 to pay for years after 2006. Why have they done that if there is no benefit?

Is it worth paying the £90 and would it generate an additional £4.80 per week or whatever the amount is?

Thanks...

Dazed_and_confused

Google Royal London topping up your State Pension.

Excellent in depth guide to what can be quite a complicated subject

p00hsticks

Madeinireland wrote: »

This morning I read a post where I understand the government as part of the new arrangement allows you upto 2023 to pay for years after 2006. Why have they done that if there is no benefit?

Because for some people there will be a benefit.

The Royal London guide Dazed and Confused has mentioned will take you through it in detail, but briefly (assuming your wife is not going to fill any gaps going forwards by working in the future) -

- If your wife had less than 30 years contributions prior to 2016 it (almost ?) definitely would be worth buying pre-2016 years

- If your wife had more than 35 years contributions prior to 2016 it definitely won't be worth buying pre-2016 years

- If your wife had between 30 and 35 years contributions prior to 2016 it will dpened on your particular circumstances

Madeinireland

She has exactly 33 years of contribution prior to 2016 and now has 35 years. So it sounds like it’s worth investigating.

Thanks...

nigelbb

Madeinireland wrote: »

She has exactly 33 years of contribution prior to 2016 and now has 35 years. So it sounds like it’s worth investigating.

Thanks...

Isn't 35 years contributions what is required for a full UK state pension?

Silvertabby

nigelbb wrote: »

Isn't 35 years contributions what is required for a full UK state pension?

35 years of full (ie, not contracted out) NI contributions.

molerat

https://forums.moneysavingexpert.com/discussion/5740852/state-pension-question-again-sorry
Your post from 2017. With a £70 COPE definitely no value from purchasing pre 2016 contributions.

p00hsticks

nigelbb wrote: »

Isn't 35 years contributions what is required for a full UK state pension?

It is for the new State Pension, introduced in 2016.

Immediately before that it was 30 (and up to 2010, it was 44 years for men and 39 for women).

For anyone with contributions both before and after 2016, the exact number of years needed will depend on an individuals circumstances.