NI contribution and higher education 18 January at 2:37PM in Pensions, annuities & retirement planning 10 replies 273 views

RedPen

According to my National Insurance record online I have: (copied from my record)

• 19 years of full contributions
• 26 years to contribute before 5 April 2048
• 7 years when you did not contribute enough

I was in higher education for about 6 years and one year I didn't work (carer + bereavement) so I get the 7 years of no contribution.
Are they saying I need to make 26 more years of contributions to get full pension?

Also, one financial year (2012/13) has had this message for years and now: 

"We are checking this year to see if it counts towards your pension. We’ll update your record when this is finished, you do not need to do anything."

I'm worried because it's more than 6 years ago now.

Dazed_and_C0nfused

Highly unlikely you need 26 years, that is simply the number of years you can still contribute for.

You need to post the amount you have actually accrued to date to know how many more years are needed to reach your maximum of £185.15.

molerat

Dazed_and_C0nfused said:

Highly unlikely you need 26 years, that is simply the number of years you can still contribute for.

You need to post the amount you have actually accrued to date to know how many more years are needed to reach your maximum of £185.15.

The easy way being  £185.15 - amount accrued to April 2022 / £5.29 = years needed to get full amount.

af1963

Or, being pedantic, because the brackets make a difference :-) ... 

( £185.15 - amount accrued to April 2022) / £5.29 = years needed to get full amount.

squirrelpie

And rounded up to an integral number of years, but the last year might not be worth it.

RedPen

Thank you for the equations.
Unfortunately, I don't know how to work out "amount accrued to April 2022". Am I right in assuming this is money accrued? If not what other unit? My online NI record doesn't show how much money I've accrued. Do I have to add up each year?

e.g.

2017/2018

You have contributions from

Paid employment: £1,826.62

I've been self employed for a number of years so it sometimes says 

You have contributions from

Self-employment: 52 weeks

jem16

RedPen said:

Thank you for the equations.
Unfortunately, I don't know how to work out "amount accrued to April 2022". Am I right in assuming this is money accrued? If not what other unit? My online NI record doesn't show how much money I've accrued. Do I have to add up each year?

You need to get a state pension forecast which will give you the detail being asked for. 

molerat

It is how much state pension you already have and is shown in your state pension forecast

Dazed_and_C0nfused

RedPen said:

Thank you for the equations.
Unfortunately, I don't know how to work out "amount accrued to April 2022". Am I right in assuming this is money accrued? If not what other unit? My online NI record doesn't show how much money I've accrued. Do I have to add up each year?

e.g.

2017/2018

You have contributions from

Paid employment: £1,826.62

I've been self employed for a number of years so it sometimes says 

You have contributions from

Self-employment: 52 weeks

You need to check your State Pension forecast not your NI history.

Under the headline forecast of £185.15 you should see the amount you have actually accrued towards that.

p00hsticks

jem16 said:

RedPen said:

Thank you for the equations.
Unfortunately, I don't know how to work out "amount accrued to April 2022". Am I right in assuming this is money accrued? If not what other unit? My online NI record doesn't show how much money I've accrued. Do I have to add up each year?

You need to get a state pension forecast which will give you the detail being asked for. 

Follow the link here
https://www.gov.uk/check-state-pension

molerat

p00hsticks said:

jem16 said:

RedPen said:

Thank you for the equations.
Unfortunately, I don't know how to work out "amount accrued to April 2022". Am I right in assuming this is money accrued? If not what other unit? My online NI record doesn't show how much money I've accrued. Do I have to add up each year?

You need to get a state pension forecast which will give you the detail being asked for. 

Follow the link here
https://www.gov.uk/check-state-pension

They already have access to their on line NI record so to their on line tax account and their on line pension forecast.