National Insurance Contributions

PoppyB19

I have recently been made redundant after 37 years employment.  I have paid NI for 37 years.  I am now a self employed sole trader. Do I need to pay voluntary NI? TIA

pramsay13

You can check your contributions and pension entitlement online. 
https://www.gov.uk/check-national-insurance-record

grumpyoldwoman

No, you pay different NI contributions when self employed, see here https://www.gov.uk/self-employed-national-insurance-rates . One rate is paid monthly and the other when you do your tax return. Or at least that's how it was when I last did it in 2016.

Bod_1234

I have a similar question, it's very unclear what happens when you have "enough stamps" for a full state pension.

I have 35 years of full contributions.

If I want to take time off and bum around, lets say, have I earned enough "stamps" to not have to worry about gaps?   They will of course allow me to buy stamps, but for what purpose?

mark55man

You need to check your record as 35 years only applies "automatically" to people wholly earning contributions after the 2016 changes.  depending on your circumstances 35 may be fine or may not be enough (esp if some years contracted out, where you paid less NI as you other pension was looking after you). But (this is a plus, not a minus) you have time for a second bite at the cherry - but you need to check your NI record and your state pension forecast to confirm what is needed.   

You can make a post on the pension forum - they get a lot and you will get an informed response there to help you understand the forecast.   Broadly the confusion is because the big figure up top is the most you can get, and the slightly smaller figure a few lines down is what you have currently earned and how many years you left to improve 

Bod_1234

So my forecast says this, which suggests regardless of what I do now (apart from die), I will get full state pension.  Is this correct?

Your forecast

• is not a guarantee and is based on the current law
• is based on your National Insurance record up to 5 April 2021
• does not include any increase due to inflation

£185.15 is the most you can get

You cannot improve your forecast any more.

If you’re working you may still need to pay National Insurance contributions until XX XX XXxx  as they fund other state benefits and the NHS.

Wicked_Lady

Bod_1234 said:

So my forecast says this, which suggests regardless of what I do now (apart from die), I will get full state pension.  Is this correct?

Your forecast

• is not a guarantee and is based on the current law
• is based on your National Insurance record up to 5 April 2021
• does not include any increase due to inflation

£185.15 is the most you can get

You cannot improve your forecast any more.

If you’re working you may still need to pay National Insurance contributions until XX XX XXxx  as they fund other state benefits and the NHS.

This will change if you opted out and paid lower NI contributions via your workplace.

molerat

Bod_1234 said:

So my forecast says this, which suggests regardless of what I do now (apart from die), I will get full state pension.  Is this correct?

Your forecast

• is not a guarantee and is based on the current law
• is based on your National Insurance record up to 5 April 2021
• does not include any increase due to inflation

£185.15 is the most you can get

You cannot improve your forecast any more.

If you’re working you may still need to pay National Insurance contributions until XX XX XXxx  as they fund other state benefits and the NHS.

Yes, you are at the full new pension.  Nothing you will do (or have done) can add or take away from that amount.

Wicked_Lady said:

This will change if you opted out and paid lower NI contributions via your workplace.

No it won't !