Pension & National Insurance Contributions Got me stumped!!

kuratowski

And I need only 31 years to obtain the max state pension.  I'm one of the ones who loses from the new state pension rules!

Silvertabby

kuratowski said:

And I need only 31 years to obtain the max state pension.  I'm one of the ones who loses from the new state pension rules!

Yes, indeed.  Under the old rules you could have accrued further additional State pension up to the maximum £310 per week.  Now you will be capped at £185.15.

Blue_Butterfly

I'm now on my 50th and last year of NI to reach £185.15. I spent my entire career in the NHS and was contracted out for most of it. The new state pension started just after I had semi retired, when I needed 7 more years of NI. I got 3 years of class 1 NI by working a few hours a week. I'm caring for a disabled relative so have been able to claim carer's credit to get NI credits for my last 4 years. I'm a really big winner from the new pension system.

Ironically the years when I actually paid the most NI (31-43) did not add anything to my state pension, and the years where I paid the least have added the most. These were the post 2016 years as above, and my early pre 1978 career when I accrued a bit of additional state pension that was included in my 2016 starting amount.