Retiring at 62

EP456

Thanks Mark.  I don’t have any missing years but like the OP, I intend to retire before SPA, and my record also states that I have 2 more years to pay to achieve full State Pension.  I couldn’t find anything on the Government site explaining how to make the purchase.

EP456

Forecast if you contribute another 2 years before 5 April 2029

£175.20 a week

molerat

https://www.gov.uk/pay-voluntary-class-3-national-insurance

thebullsback

So in a nutshell how much do I need to pay in voluntary contributions ?

xylophone

So in a nutshell how much do I need to pay in voluntary contributions ?

It is possible that you will have paid enough NI to make 20/21 a qualifying year.

If not, you will need to make voluntary contributions to make up the year ( some fraction of £795.60)

and  to pay for a full year 21/22 at whatever the rate is for that year.

This would bring you to within a whisker of a full NSP.

To get the full NSP you would need to contribute 22/23 at the rate then obtaining.

CapricornLass

Its currently £780 for a complete year.

According to Mr HMRC, part years don't count.  So what I would do is to check that this year has been fully paid - you will have to do that next F.Y and if there is any amount still outstanding for this year, then I would suggest that its worth paying (you will already have been making some contributions for this year, remember).  There is no point in paying any contributions for the year in which you reach SP, as it won't be a complete year. 

thebullsback

Ok Thank you ALL very much indeed for your advice and time very much apprreciated .Thank you

enthusiasticsaver

Just as an aside I am in the same position having retired at 58 with 3 years to make up to get full pension (3rd year gets me minimal though like OP) but I managed to get one extra year (2018-2019) as I do childcare one day a week for grandchildren so my DDs child benefit credits were transferred to me as she already had enough NI credits for the year through work. Anyone short of NI credits who does childcare for grandchildren can do this providing their DD or DS or DIL receives  child benefit and does not need the credits for their own record. 

LHW99

Anyone short of NI credits who does childcare for grandchildren can do this providing their DD or DS or DIL receives  child benefit and does not need the credits for their own record.

I would guess also that as long as the parent is registered for child benefit, even if they don't get it due to the family income, this would probably still work, but DYOR