National Insurance question

[Deleted User]

I thought that to be creditted with a full years NI credits for State Pension purposes - you had to contribute 52 weeks / 12 months worth ?

On looking at my HMRC record - I see that (for some reason 1997/8 - I only paid 43 weeks worth - but am still credited with a full years NI

Does this mean that my missing 8 years can be built up at less cost than 8 full years ?

Dazed_and_C0nfused

What does your State Pension forecast show?

You need to post the full details, not just the headline figure.

Were you young then?  

p00hsticks

Deleted_User said:

I thought that to be creditted with a full years NI credits for State Pension purposes - you had to contribute 52 weeks / 12 months worth ?

On looking at my HMRC record - I see that (for some reason 1997/8 - I only paid 43 weeks worth - but am still credited with a full years NI

Does this mean that my missing 8 years can be built up at less cost than 8 full years ?

As I understand it you have to have earnings in the year of 52 x the weekly lower earnings limit (LEL), which is currently £120. So if you are a relatively high earner you can get a full years credits in just a few months 

[Deleted User]

I was earning about £15k - and paid £1167 in contributions

I was 35 years old

"Full year

You have contributions from

Paid employment: £1,167.60

National Insurance credits: 43 weeks

These may have been added to your record if you were ill/disabled, unemployed, caring for someone full-time or on jury service."

I was not ill/disabled/ unemployed/caring for someone or on jury service

and I no longer have my P60 from 23 years ago....

[Deleted User]

p00hsticks said:

Deleted_User said:

I thought that to be creditted with a full years NI credits for State Pension purposes - you had to contribute 52 weeks / 12 months worth ?

On looking at my HMRC record - I see that (for some reason 1997/8 - I only paid 43 weeks worth - but am still credited with a full years NI

Does this mean that my missing 8 years can be built up at less cost than 8 full years ?

As I understand it you have to have earnings in the year of 52 x the weekly lower earnings limit (LEL), which is currently £120. So if you are a relatively high earner you can get a full years credits in just a few months 

So - you are saying that someone earning more than £120 per week can get away with contributing less than 52 weeks NI  (albeit at a higher rate) and still get credited with 12 months ?

p00hsticks

Deleted_User said:

I was earning about £15k - and paid £1167 in contributions

I was 35 years old

"Full year

You have contributions from

Paid employment: £1,167.60

National Insurance credits: 43 weeks

These may have been added to your record if you were ill/disabled, unemployed, caring for someone full-time or on jury service."

I was not ill/disabled/ unemployed/caring for someone or on jury service

and I no longer have my P60 from 23 years ago....

So comparing it to my record, it's not that you've only paid 43 weeks, but rather that you've somehow been creditted for 43 weeks, and the payments from paid employment makes up the full year (when I've been working for a full year it just shows as a single entry that gives the total contribution amount from paid employment - credits only show for the periods during university summers when I was claiming JSA).

comeandgo

Deleted_User said:

p00hsticks said:

Deleted_User said:

I thought that to be creditted with a full years NI credits for State Pension purposes - you had to contribute 52 weeks / 12 months worth ?

On looking at my HMRC record - I see that (for some reason 1997/8 - I only paid 43 weeks worth - but am still credited with a full years NI

Does this mean that my missing 8 years can be built up at less cost than 8 full years ?

As I understand it you have to have earnings in the year of 52 x the weekly lower earnings limit (LEL), which is currently £120. So if you are a relatively high earner you can get a full years credits in just a few months 

So - you are saying that someone earning more than £120 per week can get away with contributing less than 52 weeks NI  (albeit at a higher rate) and still get credited with 12 months ?

Yes, I retired in July and have a full year for my state pension calculation.

[Deleted User]

p00hsticks said:

Deleted_User said:

I was earning about £15k - and paid £1167 in contributions

I was 35 years old

"Full year

You have contributions from

Paid employment: £1,167.60

National Insurance credits: 43 weeks

These may have been added to your record if you were ill/disabled, unemployed, caring for someone full-time or on jury service."

I was not ill/disabled/ unemployed/caring for someone or on jury service

and I no longer have my P60 from 23 years ago....

So comparing it to my record, it's not that you've only paid 43 weeks, but rather that you've somehow been creditted for 43 weeks, and the payments from paid employment makes up the full year (when I've been working for a full year it just shows as a single entry that gives the total contribution amount from paid employment - credits only show for the periods during university summers when I was claiming JSA).

So do you think that I have lost out or not? 

sheramber

You didn't pay 43 weeks contributions. You were given credits for 43 weeks. Were you claiming any benefits for part of that year?

molerat

Deleted_User said:

So do you think that I have lost out or not? 

The year is full, it counts. Nothing lost, nothing gained. That is all there is to say about it !

[Deleted User]

sheramber said:

You didn't pay 43 weeks contributions. You were given credits for 43 weeks. Were you claiming any benefits for part of that year?

Nope - I was working full time