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bostonerimus

JoeCrystal wrote: »

Well, it is most likely it will increase at some point in the future, Before 2010, a man could generally get a full basic state pension with 44 years of National Insurance Contributions, and a woman could get a full pension for 39 years. It seems logical that as there are fifty years between 18 and 68, they might as well.

Previously 30 years of NI would get you the full basic state pension and then they upped the requirement to 35 years, but it was actually a good deal because my projected pension went from around 120/week to 154/week under the new flat rate and now that's increases to 168/week.

pensionpawn

bostonerimus wrote: »

Previously 30 years of NI would get you the full basic state pension and then they upped the requirement to 35 years, but it was actually a good deal because my projected pension went from around 120/week to 154/week under the new flat rate and now that's increases to 168/week.

Was that for people with 30-34 years of NI payment too?

I will be spitting feathers if I give up work at 55 - 57, having qualified for full SP, only to find that two years before reaching SP the government propose increasing the number of qualifying years by another 5. Many others will also have factored full SP into their retirement plan and I could imagine that being just as popular as Brexit!

pathsofdarkness

I don't have 18/19 data yet. My summary is:
* 16 years of full contributions
* 30 years to contribute before 5 April 2048
* 6 years when you did not contribute enough

So far I have built up around £87 p/w. I also have Contracted Out Payment Equivalent of about £7 p/w. Doesn't tell me which years the COPE is from unfortunately which makes it difficult to know how many of the 30 remaining years I need in order to get a full State Pension and thus plan my earliest retirement date.

michaels

I got to 35 years 1 or 2 years ago but unfortunately that doesn't mean they won't charge me NI for the remaining 20 years to my spa. Should have contracted out.

bostonerimus

pensionpawn wrote: »

Was that for people with 30-34 years of NI payment too?

I will be spitting feathers if I give up work at 55 - 57, having qualified for full SP, only to find that two years before reaching SP the government propose increasing the number of qualifying years by another 5. Many others will also have factored full SP into their retirement plan and I could imagine that being just as popular as Brexit!

Set up an account on the HMRC website and look at your NI record and pension forecast.

Mine shows:

Pension forecast 168.60

* 35 years of full contributions
* 10 years to contribute
* 6 years when you did not contribute enough

as I pay voluntary NICs I can now stop, but if they up the contributions necessary again I might lose out....that's the risk.

Couch_potato_46

Mine hasn't updated yet but is showing £168.60 which cannot be increased.

30 years of full contributions
20 years to contribute
1 year when you didn't contribute enough.

I think the forecast has gone up even though the 2018/2019 details aren't available yet. Hopefully the 31 years is enough ��

pensionpawn

bostonerimus wrote: »

Set up an account on the HMRC website and look at your NI record and pension forecast.

Mine shows:

Pension forecast 168.60

* 35 years of full contributions
* 10 years to contribute
* 6 years when you did not contribute enough

as I pay voluntary NICs I can now stop, but if they up the contributions necessary again I might lose out....that's the risk.

Already done some time ago, hence post 11.

I accept that the government may in future yet again change the number of qualifying years, however my point is that once you've achieved full SP status under an existing or previous set of rules, any future changes to full SP qualifying rules should only impact those yet to secure full SP status.

GunJack

I'm sure the Govt have said there should be, in future, 10 year's notice of any further pension changes, but given the new system only came in in 16-17 it's unlikely they're going to change it again in the forseeable....

GunJack

xylophone wrote: »

but you'll have to keep shelling out in the meantime:(

That is a joke that's worthy of my dad

eastcorkram

I'm not sure mine is right, as it doesn't really make sense.
It says my forecast is £170.53. Then it says, you need to continue to contribute to reach your forecast. Fair enough.

Then it says, your forecast based on contributions to April 2019, is £170.53