Guide discussion: Voluntary national insurance contributions

p00hsticks

DancingFlamingo said:

However also a further two years when part payments were made:

2020-21 needs £336.60 to make up shortfall by 5/4/2027

2021-22 needs £46.20 to make up shortfall by 5/4/2028

My interpretation of the statement is that if I make the payments of £336.60 and £46.20 by 5/4/2024 I don't have to make the payments for 2006-07 and 2007-08 and I will have made up my two years deficit.

If this is correct then I can delay seeking a reference number until post 5/4 and free up the phone lines for someone else.

Almost correct. The price of the 2020-21 year will rise after April, as it's only the previous two years that are charged at their initial rates, after that they are priced the same as the current year.
I don't have the figures to hand but I'm sure someone else will be able to tell you what you can expect to pay for that year after April. Whether the saving  is significant enough to brave the pre-April phone line will be for you to judge. 

London2023

I am fairly sure that paying class 3 VC for 2006-2016 is to my benefit.  (ie each year would increase my state pension)

68 y/o retired in 2000 no income, benefits, pension since. I have a private pension pot but not accessed it yet.

Have my NI record (via gov gateway) confirming no contributions since 2000 and could pay £824.20 for each year from 2006.  Also:

21 Years of full contributions

27 years when you did not contribute enough.

I recently rang Pension Service who were a bit vague. Said they would send me a letter but that may arrive after 6 April.

I had a statement from DWP in 2016 showing estimated state Pension £97 pw and estimated COPE amount £28 pw.

Thinking I’ll pay HMRC £9,066.20 for the 11 years 2006-2016.

Any views? Have I overlooked something?                                                

molerat

p00hsticks said:

DancingFlamingo said:

However also a further two years when part payments were made:

2020-21 needs £336.60 to make up shortfall by 5/4/2027

2021-22 needs £46.20 to make up shortfall by 5/4/2028

My interpretation of the statement is that if I make the payments of £336.60 and £46.20 by 5/4/2024 I don't have to make the payments for 2006-07 and 2007-08 and I will have made up my two years deficit.

If this is correct then I can delay seeking a reference number until post 5/4 and free up the phone lines for someone else.

Almost correct. The price of the 2020-21 year will rise after April, as it's only the previous two years that are charged at their initial rates, after that they are priced the same as the current year.
I don't have the figures to hand but I'm sure someone else will be able to tell you what you can expect to pay for that year after April. Whether the saving  is significant enough to brave the pre-April phone line will be for you to judge. 

After April 20-21 will be £383.90 and 21-22 will stay at £46.20 until April 2024.  But without further information who knows what effect they will have on the pension amount.

London2023

Thanks molerat. No pension yet. Defferd

London2023

I don't know! The 2016 DWP statement is the last info I have

DancingFlamingo

Dazed_and_C0nfused said:

DancingFlamingo said:

As with everyone I am struggling to get through to FPC but looking at my NI statement I wonder if I can delay payment until post 5/4/2023. Situation is:

State pension due in November 2024

43 years of full contributions

2 years to contribute before 5 April 2024

5 years when you did not contribute enough

Two of the missing years are 2006-07 and 2007-08 when my statement says the 'year is not full' although I have P60 for latter year and payslips for former showing that I did pay a full year, but not sure that time is on my side to make an appeal.

However also a further two years when part payments were made:

2020-21 needs £336.60 to make up shortfall by 5/4/2027

2021-22 needs £46.20 to make up shortfall by 5/4/2028

My interpretation of the statement is that if I make the payments of £336.60 and £46.20 by 5/4/2024 I don't have to make the payments for 2006-07 and 2007-08 and I will have made up my two years deficit.

If this is correct then I can delay seeking a reference number until post 5/4 and free up the phone lines for someone else.

Thanks.

Is there any reason you haven't provided your forecast figure and, more importantly, the amount of State Pension you have a really accrued to date?

Sorry it was my first ever post and I was trying to keep my details as concise as possible.

Estimate is £182.36 up to 5/4/22 with a forecast of £185.15 if I contribute another year up to 5/4/2024 (although NI Statement says to contribute another 2 years before 5/4/2024).

I am working but it's part-time (one job) and zero hours (second job) and together the income is below the NI threshold, so I am unlikely to make any additional payments through my employers before 5/4/2024. 

molerat

DancingFlamingo said:

Dazed_and_C0nfused said:

DancingFlamingo said:

As with everyone I am struggling to get through to FPC but looking at my NI statement I wonder if I can delay payment until post 5/4/2023. Situation is:

State pension due in November 2024

43 years of full contributions

2 years to contribute before 5 April 2024

5 years when you did not contribute enough

Two of the missing years are 2006-07 and 2007-08 when my statement says the 'year is not full' although I have P60 for latter year and payslips for former showing that I did pay a full year, but not sure that time is on my side to make an appeal.

However also a further two years when part payments were made:

2020-21 needs £336.60 to make up shortfall by 5/4/2027

2021-22 needs £46.20 to make up shortfall by 5/4/2028

My interpretation of the statement is that if I make the payments of £336.60 and £46.20 by 5/4/2024 I don't have to make the payments for 2006-07 and 2007-08 and I will have made up my two years deficit.

If this is correct then I can delay seeking a reference number until post 5/4 and free up the phone lines for someone else.

Thanks.

Is there any reason you haven't provided your forecast figure and, more importantly, the amount of State Pension you have a really accrued to date?

Sorry it was my first ever post and I was trying to keep my details as concise as possible.

Estimate is £182.36 up to 5/4/22 with a forecast of £185.15 if I contribute another year up to 5/4/2024 (although NI Statement says to contribute another 2 years before 5/4/2024).

I am working but it's part-time (one job) and zero hours (second job) and together the income is below the NI threshold, so I am unlikely to make any additional payments through my employers before 5/4/2024. 

£185.15 - £182.36 =  £2.79.  One year will add that amount.  So you may as well wait until somewhere before April 2024 and buy that 21-22 for £46.20, the same price as it is today.

Dazed_and_C0nfused

DancingFlamingo said:

Dazed_and_C0nfused said:

DancingFlamingo said:

As with everyone I am struggling to get through to FPC but looking at my NI statement I wonder if I can delay payment until post 5/4/2023. Situation is:

State pension due in November 2024

43 years of full contributions

2 years to contribute before 5 April 2024

5 years when you did not contribute enough

Two of the missing years are 2006-07 and 2007-08 when my statement says the 'year is not full' although I have P60 for latter year and payslips for former showing that I did pay a full year, but not sure that time is on my side to make an appeal.

However also a further two years when part payments were made:

2020-21 needs £336.60 to make up shortfall by 5/4/2027

2021-22 needs £46.20 to make up shortfall by 5/4/2028

My interpretation of the statement is that if I make the payments of £336.60 and £46.20 by 5/4/2024 I don't have to make the payments for 2006-07 and 2007-08 and I will have made up my two years deficit.

If this is correct then I can delay seeking a reference number until post 5/4 and free up the phone lines for someone else.

Thanks.

Is there any reason you haven't provided your forecast figure and, more importantly, the amount of State Pension you have a really accrued to date?

Sorry it was my first ever post and I was trying to keep my details as concise as possible.

Estimate is £182.36 up to 5/4/22 with a forecast of £185.15 if I contribute another year up to 5/4/2024 (although NI Statement says to contribute another 2 years before 5/4/2024).

I am working but it's part-time (one job) and zero hours (second job) and together the income is below the NI threshold, so I am unlikely to make any additional payments through my employers before 5/4/2024. 

Paying NI when working isn't necessary to add further years, you have to be earning above the LEL (£123/week).

But you only need one further year to reach your personal maximum of £185.15/week.

So paying back years might not be necessary.

London2023

Molerat. in 2016 it was £97 pw (plus £28 COPE). In 2000 DWP sent me an invitation letter to claim SP but no figures were included.

Janie2008

DancingFlamingo said:

Dazed_and_C0nfused said:

DancingFlamingo said:

As with everyone I am struggling to get through to FPC but looking at my NI statement I wonder if I can delay payment until post 5/4/2023. Situation is:

State pension due in November 2024

43 years of full contributions

2 years to contribute before 5 April 2024

5 years when you did not contribute enough

Two of the missing years are 2006-07 and 2007-08 when my statement says the 'year is not full' although I have P60 for latter year and payslips for former showing that I did pay a full year, but not sure that time is on my side to make an appeal.

However also a further two years when part payments were made:

2020-21 needs £336.60 to make up shortfall by 5/4/2027

2021-22 needs £46.20 to make up shortfall by 5/4/2028

My interpretation of the statement is that if I make the payments of £336.60 and £46.20 by 5/4/2024 I don't have to make the payments for 2006-07 and 2007-08 and I will have made up my two years deficit.

If this is correct then I can delay seeking a reference number until post 5/4 and free up the phone lines for someone else.

Thanks.

Is there any reason you haven't provided your forecast figure and, more importantly, the amount of State Pension you have a really accrued to date?

Sorry it was my first ever post and I was trying to keep my details as concise as possible.

Estimate is £182.36 up to 5/4/22 with a forecast of £185.15 if I contribute another year up to 5/4/2024 (although NI Statement says to contribute another 2 years before 5/4/2024).

I am working but it's part-time (one job) and zero hours (second job) and together the income is below the NI threshold, so I am unlikely to make any additional payments through my employers before 5/4/2024. 

The most you can get is £185.15 and you will already get £182.36 so no point paying for 2 years. You can pay for the cheapest year and that will get you the extra few pounds to make it up to £185.15.