Confused about how many years NI contributions I need. 16 February at 3:45PM in Pensions, annuities & retirement planning 18 replies 1.1K views

Chomeur

I have 27 years full NI contributions and reach retirement age in 2035. According to the MSE guide on this (https://www.moneysavingexpert.com/savings/state-pensions/) I need at least 35 qualifying years, or maybe many more! To work it out, the guide says to check my state pension forecast. This says "Forecast if you contribute another 11 years before 5 April 2035 £185.15 per week."

So, is the state pension forecast telling me that I need to contribute for another 11 years? Or, if I only contribute for another eight years to make it up to 35, will I still get £185.15? I guess it must be the former, because otherwise I don't see why they give a figure of 11 years. But it could be clearer. 

Thanks.

MallyGirl

35 years only applies if all of your NI is gained after the introduction of the new rules in 2016.

eskbanker

Your forecast is the accurate version, the oft-quoted 35 years doesn't apply to those starting to receive pensions within the next 40/50 years....

yp70479

Were you ever in a contracted out pension scheme. If so you paid a lower rate of NI all that time, and now they want it back! I had been contracted out most of my working life and despite having 35 years of contributions I still needed another 4 years to get full state pension. Best to ring up ad talk to the Future Pensions Service they can explain/advise

Chomeur

I see, thanks. Yes, I was contracted out.

MallyGirl

Chomeur said:

I have 27 years full NI contributions and reach retirement age in 2035. According to the MSE guide on this (https://www.moneysavingexpert.com/savings/state-pensions/) I need at least 35 qualifying years, or maybe many more! To work it out, the guide says to check my state pension forecast. This says "Forecast if you contribute another 11 years before 5 April 2035 £185.15 per week."

So, is the state pension forecast telling me that I need to contribute for another 11 years? Or, if I only contribute for another eight years to make it up to 35, will I still get £185.15? I guess it must be the former, because otherwise I don't see why they give a figure of 11 years. But it could be clearer. 

Thanks.

In answer to the actual question, yes you will need to contribute 11 years not just make it up to 35. If you are not intending to work for another 11 years then it is worth looking to see if you have part filled years that you could top up

german_keeper

yp70479 said:

Were you ever in a contracted out pension scheme. If so you paid a lower rate of NI all that time, and now they want it back! I had been contracted out most of my working life and despite having 35 years of contributions I still needed another 4 years to get full state pension. Best to ring up ad talk to the Future Pensions Service they can explain/advise

Just wondering what you mean by "they want it back". Who wants what back?

Audaxer

Chomeur said:

I have 27 years full NI contributions and reach retirement age in 2035. According to the MSE guide on this (https://www.moneysavingexpert.com/savings/state-pensions/) I need at least 35 qualifying years, or maybe many more! To work it out, the guide says to check my state pension forecast. This says "Forecast if you contribute another 11 years before 5 April 2035 £185.15 per week."

So, is the state pension forecast telling me that I need to contribute for another 11 years? Or, if I only contribute for another eight years to make it up to 35, will I still get £185.15? I guess it must be the former, because otherwise I don't see why they give a figure of 11 years. But it could be clearer. 

Thanks.

Your forecast statement should also have a figure for 'Estimate based on your NI Record up to 5/4/22'. If you let us know that figure we will be able to calculate how many years NI will get you to the maximum.

p00hsticks

yp70479 said:

 Best to ring up ad talk to the Future Pensions Service they can explain/advise

But wait until after April 5th to do so, as in this case there's no urgency and they're under a lot of pressure at present. 

Chomeur

Audaxer said:

Chomeur said:

I have 27 years full NI contributions and reach retirement age in 2035. According to the MSE guide on this (https://www.moneysavingexpert.com/savings/state-pensions/) I need at least 35 qualifying years, or maybe many more! To work it out, the guide says to check my state pension forecast. This says "Forecast if you contribute another 11 years before 5 April 2035 £185.15 per week."

So, is the state pension forecast telling me that I need to contribute for another 11 years? Or, if I only contribute for another eight years to make it up to 35, will I still get £185.15? I guess it must be the former, because otherwise I don't see why they give a figure of 11 years. But it could be clearer. 

Thanks.

Your forecast statement should also have a figure for 'Estimate based on your NI Record up to 5/4/22'. If you let us know that figure we will be able to calculate how many years NI will get you to the maximum.

£131.08.

All my previous years are full back to 2008. I think that, including the current tax year, I have 13 years to complete my 38 years, and need 11 of them. I'm inclined to pass on this year, and the next one, and then make payments for the remaining 11, voluntary ones if I'm not working. I'm not working now, but might do again in the future.

Dazed_and_C0nfused

Chomeur said:

Audaxer said:

Chomeur said:

I have 27 years full NI contributions and reach retirement age in 2035. According to the MSE guide on this (https://www.moneysavingexpert.com/savings/state-pensions/) I need at least 35 qualifying years, or maybe many more! To work it out, the guide says to check my state pension forecast. This says "Forecast if you contribute another 11 years before 5 April 2035 £185.15 per week."

So, is the state pension forecast telling me that I need to contribute for another 11 years? Or, if I only contribute for another eight years to make it up to 35, will I still get £185.15? I guess it must be the former, because otherwise I don't see why they give a figure of 11 years. But it could be clearer. 

Thanks.

Your forecast statement should also have a figure for 'Estimate based on your NI Record up to 5/4/22'. If you let us know that figure we will be able to calculate how many years NI will get you to the maximum.

£131.08.

All my previous years are full back to 2008. I think that, including the current tax year, I have 13 years to complete my 38 years, and need 11 of them. I'm inclined to pass on this year, and the next one, and then make payments for the remaining 11, voluntary ones if I'm not working. I'm not working now, but might do again in the future.

If your looking at post 2916 years then the eleventh year will only add the final £1.17.

Not nearly as good value as the first ten, especially if you would be liable to tax on it.