State pension question!

jem16

Dazed_and_C0nfused said:

p00hsticks said:

Dazed_and_C0nfused said:

Quite possibly.

The starting point would be for them to check their forecast on gov.uk.

Except that (I think someone on this board previously has reported ) if they don't have ten years qualifying credits I'm not sure that a forecast would be visible to them.

They'd need to either contact the Futire Pension Centre or look at their NI record (available via their online tax account I think if they have their access to it set up).

Has friend ever claimed any benefits (JSA, ESA, Universal Credit, Child Benefit etc) ? A lot of those come with NI credits attached...

I'm not sure that's right otherwise no youngsters would have access to one. 

Not that they'd necessarily be interested yet but don't see why they wouldn't be able to see their forecast of £185.15 even if 30+ years were needed to get to it?

My son and I were just checking this out recently as he now lives in Canada and I was telling him about paying voluntary Class 2 NICs. He has 9 years so just under the 10 year rule. His forecast does show but all it says is that it would be £185.15 subject to further contributions. 

NedS

Dazed_and_C0nfused said:

p00hsticks said:

Dazed_and_C0nfused said:

Quite possibly.

The starting point would be for them to check their forecast on gov.uk.

Except that (I think someone on this board previously has reported ) if they don't have ten years qualifying credits I'm not sure that a forecast would be visible to them.

They'd need to either contact the Futire Pension Centre or look at their NI record (available via their online tax account I think if they have their access to it set up).

Has friend ever claimed any benefits (JSA, ESA, Universal Credit, Child Benefit etc) ? A lot of those come with NI credits attached...

I'm not sure that's right otherwise no youngsters would have access to one. 

Not that they'd necessarily be interested yet but don't see why they wouldn't be able to see their forecast of £185.15 even if 30+ years were needed to get to it?

Either way, they would be able to see their NI record and see how many full years they have.

Audaxer

If the OP's friend has no record of NI contributions to date, and now paid voluntary contributions for the next 10 years until 67, just wondering how much that would make them eligible for? Presumably it would still be worthwhile starting even this late if they could afford the contributions.

Dazed_and_C0nfused

Audaxer said:

If the OP's friend has no record of NI contributions to date, and now paid voluntary contributions for the next 10 years until 67, just wondering how much that would make them eligible for? Presumably it would still be worthwhile starting even this late if they could afford the contributions.

£52.90/week at today's rates (assuming a £0 starting point).

Audaxer

Dazed_and_C0nfused said:

Audaxer said:

If the OP's friend has no record of NI contributions to date, and now paid voluntary contributions for the next 10 years until 67, just wondering how much that would make them eligible for? Presumably it would still be worthwhile starting even this late if they could afford the contributions.

£52.90/week at today's rates (assuming a £0 starting point).

Thanks. I had wondered if there was a higher minimum rate for anyone just qualifying for SP with 10 years contributions, but I see that £52.90 per week would be the minimum. Will obviously be a good bit higher with inflation being added to it, so certainly worth doing if the OP's friend is able to make voluntary contributions from their inheritance.  

calcotti

They cannot may contributions for the yearn which they reach pension age. They can pay backdated contributions for up to the last six years.

molerat

calcotti said:

They cannot may contributions for the yearn which they reach pension age. They can pay backdated contributions for up to the last six years.

Currently back 16 years, to 2006-07, until April next year.

Dazed_and_C0nfused

And it's always possible the op received starting credits for 3 years meaning only another 7 would be needed.

https://www.gov.uk/hmrc-internal-manuals/national-insurance-manual/nim41210

RobM99

Thanks all, I think a financial expert mught be a port of call!

xylophone

Thanks all, I think a financial expert mught be a port of call!

I'd have thought that he might first try a call to the Future Pension Centre.

https://www.gov.uk/future-pension-centre