State Pension with No qualifying years?

paulelton007

Any guidance appreciated …
My wife is 55 and has never been employed. Is it possible to buy with cash enough years of NI entitlements to achieve some level of State Pension?
Would this make sense?

TheMilkmansDad

have you/she checked on line to see what her forecast is?

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

MallyGirl

If she has claimed child benefit she may have some NI credits

Linton

Resultant SP dependent on the state pension forecast. But as a starter.....

She can make voluntary payments for £803 per NI year.  As of right now she could pay for 2006-2022, 17 years, which would cost £17X£803 =£13651.  That would provide a State Pension of £185.15 X 17/35= approx £90/week= approx £4693/year.  So it would pay for itself in about 3 years. And she could continue to pay for extra years until but not including the year in which she is due to start her SP.

She will lose the right to buy the 2006-2016 years at the start of April 2023.  If she chose not to there would be less opportunity to pay for extra years, burt still worthwhile.

paulelton007

Thanks so much, I contacted Future Pension then HMRC and indeed we can buy NI entitlements back to 2006. So today has been a good day thanks to those that responded.