35 years NI contributions

Tom99

xylophone wrote: »

At 6/4/16, two calculations were done - if your relative was never in a contracted out pension scheme then his were
1 - (NI years/30 x £119.30) + Additional State Pension

2 - (NI years/ 35) x £155.65.

His "starting amount" was the higher of the two.

Assuming that he was not working and paying (or being credited) with NI, then he could make voluntary contributions to increase his NSP.

See https://www.royallondon.com/siteassets/site-docs/media-centre/good-with-your-money-guides/topping-up-your-state-pension-guide.pdf

That is correct. So 35yrs is a test applied to all those retiring after April 2016, not 'only for youngsters.'

Novice_investor101

I checked my gov gateway account yesterday, it says I've a full record for 22 years, & I need another 12 years of full contributions to get the full SP. I'm 37, so a long way from retirement yet, but my NI record will be complete by age 50/51.

I was contracted out in a DB scheme for 10 years but it seems that I'll still get the full SP & also the benefit of the contracting out liability taken on by my ex employer in their DB scheme. These two added together will give me enough income to live off from age 68. Prior to that I'm busy building a DC pot, LISA & S&S isa to be able to retire long before age 68 - my aim is age 60, but it might be sooner if my investments do well enough.