National insurance contributions

I'm 60 next March, unemployed but a full time carer for a parent claiming carer's allowance. I was checking my state pension forecast, so I logged in to my ni history via UK government gateway website and found out that I have made enough ni contributions to qualify for full state pension in another 8 years or so at the current government legislation. But I have quite a few ni contributions shortfalls from previous years especially in last 5 year's as a full time carer but I didn't claim carer's allowance until last few years. I have options to make voluntary contributions until April 2023, but total amount is £3,645!!! 
I could pay it but would really struggle financially especially now with cost of living crisis!  if the state pension forecast says I qualify for full pension is there any justified reason for me to pay it? Any helpful advice would be much appreciated, especially if anyone has similar situation!
«1

Comments

  • What exactly does your forecast show?

    What is important is the amount you have actually accrued to date, not the likely headline figure of £185.15/week.


  • adeo said:
    I'm 60 next March, unemployed but a full time carer for a parent claiming carer's allowance. I was checking my state pension forecast, so I logged in to my ni history via UK government gateway website and found out that I have made enough ni contributions to qualify for full state pension in another 8 years or so at the current government legislation. But I have quite a few ni contributions shortfalls from previous years especially in last 5 year's as a full time carer but I didn't claim carer's allowance until last few years. I have options to make voluntary contributions until April 2023, but total amount is £3,645!!! 
    I could pay it but would really struggle financially especially now with cost of living crisis!  if the state pension forecast says I qualify for full pension is there any justified reason for me to pay it? Any helpful advice would be much appreciated, especially if anyone has similar situation!
    We’re you self employed during that time 😎, because if you were and made less than £500 a year you did not
    have to tell HMRC, plus you could pay class 2,  £3.15 a week or £163.80 a year.
    My friend wife cut hair a few times a month, so did not need to register as self employed.
    Called and asked if she could pay some ni, £819 later and 5 year of ni credit.

  • adeo
    adeo Posts: 113 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    What exactly does your forecast show?

    What is important is the amount you have actually accrued to date, not the likely headline figure of £185.15/week.


    £185.15/week
  • adeo
    adeo Posts: 113 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    adeo said:
    I'm 60 next March, unemployed but a full time carer for a parent claiming carer's allowance. I was checking my state pension forecast, so I logged in to my ni history via UK government gateway website and found out that I have made enough ni contributions to qualify for full state pension in another 8 years or so at the current government legislation. But I have quite a few ni contributions shortfalls from previous years especially in last 5 year's as a full time carer but I didn't claim carer's allowance until last few years. I have options to make voluntary contributions until April 2023, but total amount is £3,645!!! 
    I could pay it but would really struggle financially especially now with cost of living crisis!  if the state pension forecast says I qualify for full pension is there any justified reason for me to pay it? Any helpful advice would be much appreciated, especially if anyone has similar situation!
    We’re you self employed during that time 😎, because if you were and made less than £500 a year you did not
    have to tell HMRC, plus you could pay class 2,  £3.15 a week or £163.80 a year.
    My friend wife cut hair a few times a month, so did not need to register as self employed.
    Called and asked if she could pay some ni, £819 later and 5 year of ni credit.

    No , last 5 years unemployed and carer for parent.
  • Voyager2002
    Voyager2002 Posts: 16,104 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    You really need to telephone them: the rules for calculating how much pension you get are complicated and so their advice is irreplacable.
  • whizzywoo
    whizzywoo Posts: 757 Forumite
    Fifth Anniversary 500 Posts Photogenic Name Dropper
    edited 27 September 2022 at 8:17AM
    Probably better posting on the Pensions board.  There are a lot of knowledgeable people on there about the State Pension.  They will want to know all the info from your State Pension Forecast.
    https://forums.moneysavingexpert.com/categories/pensions-annuities-retirement-planning
    "All shall be well, and all shall be well, and all manner of thing shall be well."  :) 
  • adeo said:
    adeo said:
    I'm 60 next March, unemployed but a full time carer for a parent claiming carer's allowance. I was checking my state pension forecast, so I logged in to my ni history via UK government gateway website and found out that I have made enough ni contributions to qualify for full state pension in another 8 years or so at the current government legislation. But I have quite a few ni contributions shortfalls from previous years especially in last 5 year's as a full time carer but I didn't claim carer's allowance until last few years. I have options to make voluntary contributions until April 2023, but total amount is £3,645!!! 
    I could pay it but would really struggle financially especially now with cost of living crisis!  if the state pension forecast says I qualify for full pension is there any justified reason for me to pay it? Any helpful advice would be much appreciated, especially if anyone has similar situation!
    We’re you self employed during that time 😎, because if you were and made less than £500 a year you did not
    have to tell HMRC, plus you could pay class 2,  £3.15 a week or £163.80 a year.
    My friend wife cut hair a few times a month, so did not need to register as self employed.
    Called and asked if she could pay some ni, £819 later and 5 year of ni credit.

    No , last 5 years unemployed and carer for parent.
    Me too for my best friend 9 years.
    So you did not cut Neighbour’s grass during the summer for £10 a garden ?????.
    In your spare time, 
  • p00hsticks
    p00hsticks Posts: 14,313 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 27 September 2022 at 8:52PM
    adeo said:
    What exactly does your forecast show?

    What is important is the amount you have actually accrued to date, not the likely headline figure of £185.15/week.


    £185.15/week

    It ought to say more than that. It should  say something like
    'your forecast is  £185.15,  £805.07 a month, £9660,86 a month'
    and then either something like
    'You cannot improve on this forecast any more' or
    'You need to continue to contribute National Insurance to reach your forecast'
    Which is it ? 
    If the latter, it will then go on to say how many more years you need to contribute
  • molerat
    molerat Posts: 34,360 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Now being answered in the pensions board.
  • adeo
    adeo Posts: 113 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    adeo said:
    What exactly does your forecast show?

    What is important is the amount you have actually accrued to date, not the likely headline figure of £185.15/week.


    £185.15/week

    It ought to say more than that. It should  say something like
    'your forecast is  £185.15,  £805.07 a month, £9660,86 a month'
    and then either something like
    'You cannot improve on this forecast any more' or
    'You need to continue to contribute National Insurance to reach your forecast'
    Which is it ? 
    If the latter, it will then go on to say how many more years you need to contribute
    See screenshot!
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.1K Banking & Borrowing
  • 252.8K Reduce Debt & Boost Income
  • 453.1K Spending & Discounts
  • 243.1K Work, Benefits & Business
  • 597.5K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 256.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.