NI Contributions

Dazed_and_C0nfused

MouldyOldDough said:

Interestingly - it also says

Which I didn't think was possible when my contributions were paid by DWP benefits ?

Anyone confirm this ?

And if it is - and I put off my state pension by 12 months - how much more will I receive ?

You didn't think what was possible?

Reaching the standard new State Pension or something else?

By deferring for 52 weeks, you’ll get an extra £10.70 a week (just under 5.8% of £185.15).

https://www.gov.uk/deferring-state-pension/what-you-get

jem16

MouldyOldDough said:

It says....

Which I guess answers my question ?

So you only need a further 8 years of NICs or NI Credits. 

jem16

MouldyOldDough said:

Interestingly - it also says

Which I didn't think was possible when my contributions were paid by DWP benefits ?

Anyone confirm this ?

And if it is - and I put off my state pension by 12 months - how much more will I receive ?

Yes it’s perfectly possible. It doesn’t matter how you get a qualifying year whether it’s by NI Credits or actual paid contributions. So long as you get 8 more qualifying years from 2020/21 to reaching SPA then you will receive a full new state pension. 

MouldyOldDough

jem16 said:

MouldyOldDough said:

Interestingly - it also says

Which I didn't think was possible when my contributions were paid by DWP benefits ?

Anyone confirm this ?

And if it is - and I put off my state pension by 12 months - how much more will I receive ?

Yes it’s perfectly possible. It doesn’t matter how you get a qualifying year whether it’s by NI Credits or actual paid contributions. So long as you get 8 more qualifying years from 2020/21 to reaching SPA then you will receive a full new state pension. 

How much more would I receive at todays rates? 

NedS

MouldyOldDough said:

NedS said:

MouldyOldDough said:

I am now being paid my contributions from an "empty" ESA payment by DWP

However - this was set up 10 months ago - so, presumably won't affect 2021/22 ?

How many months will need paying before a FULL YEAR appears on a specfic year ? 12 ?

I may just make the full 41 years for a full state pension

Assuming you have no earnings and are basing this off NI credits only, you will need to have been credited for 50 out of 52 weeks in a tax year for that year to count towards your state pension. So if you have only been claiming ESA for the last 10 months, you may not have been credited for 50 weeks last tax year (and even if you have it is unlikely that the outcome for 2021/22 is showing yet as this normally takes a few months for HMRC to update the records?)
On what date did your ESA claim start?

I have no earnings liable to NI

My ESA claim started on 01 June 2021 but as I said - it is a NI only claim

So unfortunately 2021/22 will not count for you as you have not been credited (from ESA) for 50 weeks in the tax year (your claim having started 7-8 weeks into the tax year). Assuming you continue to claim ESA and receive credits, further credited years are possible.

Dazed_and_C0nfused

MouldyOldDough said:

jem16 said:

MouldyOldDough said:

Interestingly - it also says

Which I didn't think was possible when my contributions were paid by DWP benefits ?

Anyone confirm this ?

And if it is - and I put off my state pension by 12 months - how much more will I receive ?

Yes it’s perfectly possible. It doesn’t matter how you get a qualifying year whether it’s by NI Credits or actual paid contributions. So long as you get 8 more qualifying years from 2020/21 to reaching SPA then you will receive a full new state pension. 

How much more would I receive at todays rates? 

It's shown in your forecast, £144.34 increases to £185.15 so an extra £40.81/week.

The first 7 years each add £5.29/week and the 8th the final £3.78/week.

MouldyOldDough

Dazed_and_C0nfused said:

MouldyOldDough said:

jem16 said:

MouldyOldDough said:

Interestingly - it also says

Which I didn't think was possible when my contributions were paid by DWP benefits ?

Anyone confirm this ?

And if it is - and I put off my state pension by 12 months - how much more will I receive ?

Yes it’s perfectly possible. It doesn’t matter how you get a qualifying year whether it’s by NI Credits or actual paid contributions. So long as you get 8 more qualifying years from 2020/21 to reaching SPA then you will receive a full new state pension. 

How much more would I receive at todays rates? 

It's shown in your forecast, £144.34 increases to £185.15 so an extra £40.81/week.

The first 7 years each add £5.29/week and the 8th the final £3.78/week.

Sorry I meant extra on top of the normal pension - from extra years contributions 

MouldyOldDough

Dazed_and_C0nfused said:

MouldyOldDough said:

Interestingly - it also says

Which I didn't think was possible when my contributions were paid by DWP benefits ?

Anyone confirm this ?

And if it is - and I put off my state pension by 12 months - how much more will I receive ?

You didn't think what was possible?

Reaching the standard new State Pension or something else?

By deferring for 52 weeks, you’ll get an extra £10.70 a week (just under 5.8% of £185.15).

https://www.gov.uk/deferring-state-pension/what-you-get

That's got to be worth it

p00hsticks

MouldyOldDough said:

Dazed_and_C0nfused said:

MouldyOldDough said:

jem16 said:

MouldyOldDough said:

Interestingly - it also says

Which I didn't think was possible when my contributions were paid by DWP benefits ?

Anyone confirm this ?

And if it is - and I put off my state pension by 12 months - how much more will I receive ?

Yes it’s perfectly possible. It doesn’t matter how you get a qualifying year whether it’s by NI Credits or actual paid contributions. So long as you get 8 more qualifying years from 2020/21 to reaching SPA then you will receive a full new state pension. 

How much more would I receive at todays rates? 

It's shown in your forecast, £144.34 increases to £185.15 so an extra £40.81/week.

The first 7 years each add £5.29/week and the 8th the final £3.78/week.

Sorry I meant extra on top of the normal pension - from extra years contributions 

You don't get any extra if you go over the number of years needed.

Dazed_and_C0nfused

MouldyOldDough said:

Dazed_and_C0nfused said:

MouldyOldDough said:

Interestingly - it also says

Which I didn't think was possible when my contributions were paid by DWP benefits ?

Anyone confirm this ?

And if it is - and I put off my state pension by 12 months - how much more will I receive ?

You didn't think what was possible?

Reaching the standard new State Pension or something else?

By deferring for 52 weeks, you’ll get an extra £10.70 a week (just under 5.8% of £185.15).

https://www.gov.uk/deferring-state-pension/what-you-get

That's got to be worth it

It can be but remember it is costing you £9.6k to buy that extra £10.70/week.

So live long enough and it's a good buy.