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Tax and NI near retirement.
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BobQ
Posts: 11,181 Forumite

I plan to give up work in Nov21 when I am 65. State retirement age is 66.
Never having retired before (obviously!) I was wondering about two matters
Firstly if I retire 7 months into the next tax year, can I still make contributions to a personal DC pension up to the amount allowed based on only 7 months salary?
Secondly for NI will 2021/22 count as a qualifying year as I will have worked for only 7 months of it. Also can I pay voluntary contributions for part of the following year up to my 66th birthday and will that be prorataed
Never having retired before (obviously!) I was wondering about two matters
Firstly if I retire 7 months into the next tax year, can I still make contributions to a personal DC pension up to the amount allowed based on only 7 months salary?
Secondly for NI will 2021/22 count as a qualifying year as I will have worked for only 7 months of it. Also can I pay voluntary contributions for part of the following year up to my 66th birthday and will that be prorataed
Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.
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You're probably better off asking over on the Pensions boardAs far as whether the 2021/22 year will count as a qualifying year, it will depend on how much you earn in those 7 months.And any NI payments you make in 2022/23 will have no afffect on your state pension entitlement, as the tax year in which you reach state retirement age is not included in the pension calculations.
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