Guide discussion: Voluntary national insurance contributions

The_Hawk

jem16 said:

The_Hawk said:

Hi, this is my first time on this section of the forum.

I've managed to get a state pension forecast, via snail mail. My forecast indicates I have gaps in my NI record that I can fill.

However, like many others I've been unable to get through to the Future Pensions Centre on the phone number provided (0800 731 0175), despite many attempts over several weeks. In addition, I am unable to access the service via the Government Gateway as I do not have a passport or a photo driving licence.

Is there any other way I can contact the service to establish what the NI gaps are and the cost/benefits of plugging any such gaps?

If you look back through this thread you will see posts that ask for specific detail from your forecast. If you can answer those questions as best you can, someone here should be able to give you some ideas.

In round pounds, my forecast letter states:

• Estimate based on your National Insurance record up to 5 April 2022 = £163 a week.
• You have gaps in your National Insurance record that you can fill and make count towards your State Pension.
• The most you can improve your forecast to is £204 a week.

jem16

The_Hawk said:

jem16 said:

The_Hawk said:

Hi, this is my first time on this section of the forum.

I've managed to get a state pension forecast, via snail mail. My forecast indicates I have gaps in my NI record that I can fill.

However, like many others I've been unable to get through to the Future Pensions Centre on the phone number provided (0800 731 0175), despite many attempts over several weeks. In addition, I am unable to access the service via the Government Gateway as I do not have a passport or a photo driving licence.

Is there any other way I can contact the service to establish what the NI gaps are and the cost/benefits of plugging any such gaps?

If you look back through this thread you will see posts that ask for specific detail from your forecast. If you can answer those questions as best you can, someone here should be able to give you some ideas.

In round pounds, my forecast letter states:

• Estimate based on your National Insurance record up to 5 April 2022 = £163 a week.
• You have gaps in your National Insurance record that you can fill and make count towards your State Pension.
• The most you can improve your forecast to is £204 a week.

It’s best to give the exact figures rather than round figures. 

Can you give any idea of your NI record, in particular how many years pre 2016 and how many post 2016. Or at least total number of years you have? Were you contracted out? If so what is your COPE figure?

The_Hawk

jem16 said:

The_Hawk said:

jem16 said:

The_Hawk said:

Hi, this is my first time on this section of the forum.

I've managed to get a state pension forecast, via snail mail. My forecast indicates I have gaps in my NI record that I can fill.

However, like many others I've been unable to get through to the Future Pensions Centre on the phone number provided (0800 731 0175), despite many attempts over several weeks. In addition, I am unable to access the service via the Government Gateway as I do not have a passport or a photo driving licence.

Is there any other way I can contact the service to establish what the NI gaps are and the cost/benefits of plugging any such gaps?

If you look back through this thread you will see posts that ask for specific detail from your forecast. If you can answer those questions as best you can, someone here should be able to give you some ideas.

In round pounds, my forecast letter states:

• Estimate based on your National Insurance record up to 5 April 2022 = £163 a week.
• You have gaps in your National Insurance record that you can fill and make count towards your State Pension.
• The most you can improve your forecast to is £204 a week.

It’s best to give the exact figures rather than round figures. 

Can you give any idea of your NI record, in particular how many years pre 2016 and how many post 2016. Or at least total number of years you have? Were you contracted out? If so what is your COPE figure?

• Estimate based on your National Insurance record up to 5 April 2022 = £162.92 a week.
• You have gaps in your National Insurance record that you can fill and make count towards your State Pension.
• The most you can improve your forecast to is £203.69 a week.

Paid NI from 1976 to 2014, but would have been contracted out for much of that time. Took early retirement in 2014, so no payments since then. COPE figure is £87.18 per week.

molerat

Looks like you reach retirement soon with no years going forward ?  There should be 3 amounts on the forecast, what are they ?

You need 7 more years to reach your maximum, 16p short of the full pension.  So all years 2016-17 to 2022-23 are needed. 16-17 to 19-20 at £824.20 each, 20-21 at £795.60, 21-22 at £800.80, and 22-23 at £824.20.  16-17 ceases to be available after July and 20-21 and earlier increases to £907.40.  Any pre 2016 gaps will not add to the pension.

jem16

The_Hawk said:

jem16 said:

The_Hawk said:

jem16 said:

The_Hawk said:

Hi, this is my first time on this section of the forum.

I've managed to get a state pension forecast, via snail mail. My forecast indicates I have gaps in my NI record that I can fill.

However, like many others I've been unable to get through to the Future Pensions Centre on the phone number provided (0800 731 0175), despite many attempts over several weeks. In addition, I am unable to access the service via the Government Gateway as I do not have a passport or a photo driving licence.

Is there any other way I can contact the service to establish what the NI gaps are and the cost/benefits of plugging any such gaps?

If you look back through this thread you will see posts that ask for specific detail from your forecast. If you can answer those questions as best you can, someone here should be able to give you some ideas.

In round pounds, my forecast letter states:

• Estimate based on your National Insurance record up to 5 April 2022 = £163 a week.
• You have gaps in your National Insurance record that you can fill and make count towards your State Pension.
• The most you can improve your forecast to is £204 a week.

It’s best to give the exact figures rather than round figures. 

Can you give any idea of your NI record, in particular how many years pre 2016 and how many post 2016. Or at least total number of years you have? Were you contracted out? If so what is your COPE figure?

• Estimate based on your National Insurance record up to 5 April 2022 = £162.92 a week.
• You have gaps in your National Insurance record that you can fill and make count towards your State Pension.
• The most you can improve your forecast to is £203.69 a week.

Paid NI from 1976 to 2014, but would have been contracted out for much of that time. Took early retirement in 2014, so no payments since then. COPE figure is £87.18 per week.

So based on the fact that you have 38 years of NICs plus a high COPE, your Starting amount in 2016 will have been based on the old system as it was higher for you. Only voluntary NI from 2016/17 will improve your pension. 

You are £40.93pw short of the full nSP. That means that you need just slightly over 7 years to reach it as each year you buy currently pays £5.82pw to your state pension. However by the looks of it you cannot quite get there as it says the most you can improve your pension to is £203.69 but only short by 15p. 

Currently 2020/21 and 2021/22 are the cheapest to buy at £795.60 and £800.80. The other years are £824.20. These prices will change for some on 1st August and become £907.40. 

The_Hawk

molerat said:

Looks like you reach retirement soon with no years going forward ?  There should be 3 amounts on the forecast, what are they ?

You need 7 more years to reach your maximum, 12p short of the full pension.  So all years 2016-17 to 2022-23 are needed. 16-17 to 19-20 at £824.20 each, 20-21 at £795.60, 21-22 at £800.80, and 22-23 at £824.20.  16-17 ceases to be available after July and 20-21 and earlier increases to £907.40. Any pre 2016 gaps will not add to the pension.

Due to reach state retirement age just before the end of this year.

• Estimate based on your National Insurance record up to 5 April 2022 = £162.92 a week.
• Forecast if you contribute until 5 April 2023 = £168.74 a week.
• The most you can improve your forecast to is £203.69 a week.

molerat

The_Hawk said:

molerat said:

Looks like you reach retirement soon with no years going forward ?  There should be 3 amounts on the forecast, what are they ?

You need 7 more years to reach your maximum, 12p short of the full pension.  So all years 2016-17 to 2022-23 are needed. 16-17 to 19-20 at £824.20 each, 20-21 at £795.60, 21-22 at £800.80, and 22-23 at £824.20.  16-17 ceases to be available after July and 20-21 and earlier increases to £907.40. Any pre 2016 gaps will not add to the pension.

Due to reach state retirement age just before the end of this year.

• Estimate based on your National Insurance record up to 5 April 2022 = £162.92 a week.
• Forecast if you contribute until 5 April 2023 = £168.74 a week.
• The most you can improve your forecast to is £203.69 a week.

Confirms my thoughts as above (apart from my 12p should be 16p typo)

The_Hawk

Thank you to @jem16 and @molerat, I now have some very useful figures to work with.

5Yekram8

According to my forecast I will receive £203.85 pw. I have 43 years of full contributions, 2 years to contribute until I receive my pension and 5 years when I did not contribute enough, 2010-2015.
I just need to know if I need to fill in the 5 years? Is the forecast based on the assumption that I will pay the missing years?
I have tried and tried calling the GOV pension forecast number but continue to be unsuccessful with getting through!

molerat

What exactly does the forecast show? Not just the top line amount, are there other amounts? What does it say after that amount? The forecast will clearly state if you need to do anything to reach that figure.