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Buying extra state pension, worth it?

Mark300zx · 2021-05-13 15:00:55

Hi, I have recently retired at 55 and looked at my state pension forecast, it said I had 39 years of contributions up until 2020, with that amount it said I would be circa £50 short of the full £680 per month. It said I am 3 years short of a full pension, which I believe would cost £800 per year, so please tell me if I am…

Comments

Silvertabby Posts: 10,609 Forumite

14 May 2021 at 10:36AM

Even if you don't qualify for class 2s, class 3s are still well worth it.

I need 4 years to take me to the max next year. Have just paid 2 years, and will pay the other 2 later this year/once the cost for 20/21 has been confirmed.

Even as a basic rate taxpayer, I will get my investment back after just 4 years. After that, it's all profit.

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