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Last few months working - will they be enough for State Pension added year ?
MoosMum
Posts: 40 Forumite
Planning to finish June 23 , 23/24 is the last year I need to contribute to get full SP having been contracted out for a number of years. I have checked my State Pension Forecast.
Expect to earn around 11k from April to June 23.
I've had conflicting advice from colleagues and friends as to whether this will be enough to count as a full years contribution as I will have only worked a couple of months in the tax year but will be be above lower earnings limit. I can't ask HR in the organisation as don't want to alert them to my plans !
Please could someone help please ?
Expect to earn around 11k from April to June 23.
I've had conflicting advice from colleagues and friends as to whether this will be enough to count as a full years contribution as I will have only worked a couple of months in the tax year but will be be above lower earnings limit. I can't ask HR in the organisation as don't want to alert them to my plans !
Please could someone help please ?
0
Comments
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It's likely to yes.
https://www.litrg.org.uk/tax-guides/students/going-abroad/national-insurance
NB. The link is about going abroad but explains it quite well1 -
Many thanks when I spoke with someone recently it was suggested that as I would only be working 2/3 months then I would have to 'top up for the remainder of the year which didn't make sense !!
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Qualifying years are usually updated annually so it would be worth checking your State Pension forecast on gov.uk in May/June next year and you should see the outcome then.1
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For the year to count toward your State Pension based on earnings, you must earn over the Lower Earnings Limit (LEL) of £6,396.Additionally, earnings above the Upper Earning Limit do not count, so for example you cannot meet the LEL by earning £6,396 in one month - it must be split over a minimum of 7 weeks (£6396/£967 = 6.6).If you have earnings over £6,396 evenly split between April-June, then the year will qualify towards your State Pension.
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