Another Class 3 query...just short of full NSP

Funkyfreddy

Another Class 3 query please – have looked (or reckon to have) but haven't hit on the thread just yet...neighbours current forecast for the NSP is £169.91pw and he says his only incomplete years are from 2019 with State Pension in 2024.

Just seeking confirmation if possible please if he makes Class 3 contributions for just one year; 2019/20 @ £15pw does that accrue 1/35th of the current £175.20 or 1/35th of £168.35 as it was in 2019/20 ?

Either way that would be just a bit short of £175.20 – would the only way to get the extra £0.29pw be a complete year ?

MTIA.

Dazed_and_C0nfused

It is 1/35th of the current year value.

From 6 April this would become 1/35th of the new year value.

Yes, he would need a complete year to add the final bit.  The cheapest way of paying for this would be if they started a small business and paid voluntary Class 2 National Insurance of c£160.  But that involves completing a Self Assessment return so they may not think it worthwhile.  But after 12 or so years from State pension starting they would be in profit.

Funkyfreddy

Thanks D&C