State Pension and credits for child benefit

baileysbattlebus

Hi

I wonder if anyone could advise on this:

Back in 1975 I lived on the Isle of Man for nine months which has meant I haven't been able to get a state pension forecast or see my NI contributions until now - 3 months before my state pension is due to begins

I have just had a state pension forecast which shows I have 33 qualifying years, however, my NI records show that for years 79/80, 80/81, 81/82 and 82/83 are years when I made no NI contributions. My children were born in 1979, 1980 and 1982 and from 1979 onwards I was in receipt of child benefit in my name for them. Year 83/84 shows NI credits for 52 weeks.

Would those missing years increase my state pension qualifying to 35? Is it worth trying to sort it out?

molerat

Any post 1978 years should be shown for child benefit credits but the 35 years may be of little relevance as you are on the transitional arrangement.  More important is how much your pension statement shows you will / could be receiving - all 3 amounts needed. How many post 2016 years does it show ?  Does the forecast show a COPE amount ?

baileysbattlebus

Hi Molerat

thanks for your reply....these are the only figures on the forecast.....or am I missing something?

COPE amount £36.49

Estimated based on NI record to 5 April 2019 £149.95

Forecast if contribute to 5 April 2020 £154.96

molerat

No £xxx.xx is the most you can get ? 

Those missing years will not get you anything, At April 2016 when the starting amount calculation was done 35 new pension = £155.65 - £36.49 = £119.16.  30 old pension = £119.30 so the maximum 30 years of old pension is the higher of the 2 plus you had some additional pension on top of that old pension figure bringing it to around £124.53. £133.23 based on later information provided.

baileysbattlebus

HI Molerat

Thanks again!

The most I can get is £169.98.....does that make a difference?

xylophone

You made no contributions 2016/20?

baileysbattlebus

No, I took early retirement and haven't worked since 2010.....

molerat

You can purchase 2016-17, 17-18, 18-19 and 19-20 to achieve that maximum amount. The forecast will show how much each of those years will cost. 

Do you look after grandchildren whilst the parent is at work ?

baileysbattlebus

I do look after a grandchild but only during the school holidays not during the normal schoool week

molerat

If they are under 12 and the parent is paying NI contributions you can have their credits transferred to you for the weeks that you are looking after them, that is worth £15 per week in saved class 3 contributions, well worth looking into if you intend to make up the gaps - MrsM saved £3K. https://www.gov.uk/government/publications/national-insurance-credits-for-adults-who-care-for-a-child-under-12-fact-sheet/specified-adult-childcare-credits-fact-sheet

baileysbattlebus

Thanks for your help, I will look into national insurance credits.

Thanks again.