go back 6 years or 16 for full pension

hilla_2

I an due to reach state pension age on 30/12/ 1957. I have 33 qualifying years and need to pay another 2 years contribtions to get a full pension. I don't currently work and am not a carer so would need to pay these from my savings. I have spotted that in the year 2012-2013 i made 48 weeks of contributions so only need to pay £63.40 to get an extra qualifying year. I was under the impression that you can only pay for the past 6 years. Has this changed recently? if i paid this £63.40 would it give me an extra year entitlement for my state pension?

Dazed_and_C0nfused

On what basis do you think 35 years will mean you reach the standard new State Pension?

Is it an assumption or from looking, in detail, at your State Pension forecast on gov.uk?

xylophone

I an due to reach state pension age on 30/12/ 1957

Is this your date of birth?

Have you actually obtained a state pension forecast?

What exactly does it say?

https://www.gov.uk/check-state-pension

hilla_2

xylophone said:

I an due to reach state pension age on 30/12/ 1957

Is this your date of birth?

Have you actually obtained a state pension forecast?

What exactly does it say?

https://www.gov.uk/check-state-pension

yes sorry date of birth

You need to continue to contribute National Insurance to reach your forecast

Estimate based on your National Insurance record up to 5 April 2021

£179.13 a week

Forecast if you contribute another 2 years before 5 April 2023

£185.15 a week

£185.15 is the most you can get

After State Pension age, 30 December 2023, you no longer pay National Insurance contributions.

Your forecast may be different if there are any changes to your National Insurance information. There is more about this in the terms and conditions.

You’ve been in a contracted-out pension scheme

Like most people, you were contracted out of part of the State Pension.

Putting off claiming

You can put off claiming your State Pension from 30 December 2023. Doing this may mean you get extra State Pension when you do come to claim it. The extra amount, along with your State Pension, forms part of your taxable income.

More on putting off claiming (opens in new tab)

Print your State Pension summary

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Get help

Helpline 0800 731 0181

Textphone 0800 731 0176

Monday to Friday: 8:30am to 3:30pm

molerat

How many pre and how many post 2016 years do you have ?  What is the COPE amount ?

It is unlikely the pre 2016 year will add value but the above will confirm.

One year will bring your pension up to £184.42, the second will only add another 73p.

hilla_2

molerat said:

How many pre and how many post 2016 years do you have ?  What is the COPE amount ?

It is unlikely the pre 2016 year will add value but the above will confirm.

One year will bring your pension up to £184.42, the second will only add another 73p.

 4 years post 2016

34 before 2016 but I had a private pension for some of thos e years so paid lower contributions.

hilla_2

what is COPE?

molerat

hilla_2 said:

what is COPE?

Click on the link in "You've been in a contracted-out pension scheme"

hilla_2

In last weeks email Martin states

Until 5 April 2023, you can buy years to plug NI gaps back to 2006. After that, it's only back six years. When the transitional arrangements end, the number of extra years purchasable drops, so checking now is key. Those at or near state pension age will find it relatively easy to see if topping up may help.

If you're younger, the check shows how many years you already have, and how many are left. If a shortfall is likely and you've NI gaps for 2006 to 2016, you need to decide by the tax-year end whether to top up. Though the younger you are, the more time you have to earn the max years through work or NI credits. That's why I've said this is roughly for over-45s or maybe over-50s, as under that you've so many years left until state pension age, it'd be taking a real risk to buy now unless you're sure you won't make them up later (eg, as you live overseas).

molerat

But that is not the whole story.  if you have in excess of 30 pre 2016 years, especially if you were in a contracted out scheme, purchasing more may not add value.  That is why the COPE amount is important.

hilla_2

molerat said:

How many pre and how many post 2016 years do you have ?  What is the COPE amount ?

It is unlikely the pre 2016 year will add value but the above will confirm.

One year will bring your pension up to £184.42, the second will only add another 73p.

COPE amount is £30.05 a week