45 years NI contributions required for full state pension?

molerat

eastcorkram said:

I don't know if that seems likely from that Royal London link. It's hard to make much sense of it. Plus it keeps talking about people reaching pension age before 1999. 
If my forecast is right, then fair enough. If it's wrong, as in too high, I'm not going to put much effort into persuading them to put it down. 
I'm more interested in trying to sort out the 15 years I worked in Ireland. But that's leading way off topic. 

I only posted the figures as a counter point to all the .......I've got 41 years, why am I short of £185 posts. 

My state pension comes into payment the year after next ( it sounds closer when I say it that way!)

If I'm still around, I will post what the payment is.

When it comes to the time for payment they reconcile your records and recalculate, that is why the top of your forecast states "estimate", and they will find any errors.

xylophone

I'm more interested in trying to sort out the 15 years I worked in Ireland.

https://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/older_and_retired_people/state_pension_contributory.html#:~:text=The State Pension (Contributory) is,income and still get it.

may help.

nigelbb

Silvertabby said:

p00hsticks said:

Silvertabby said:

Martin was wrong (again!).  He should have said 'anywhere in the range of 30 to 50+ years', not '30 to 44'.

I needed 48 years (44 from working, 4 from paying voluntary Class 3s.  When I mentioned this in a previous post I said that someone else on these boards had needed 49 years, and asked if anyone could beat that.  Someone almost immediately popped up with their 50.

and I may be wrong, but going the other way I think we've also had someone posting who had already reached the maximum with only 29 years (because they had built up a lot of SERPS/S2P prior to 2016),

Good point.  This person, and others like them, are the only losers under the new scheme.  Had they been able to continue racking up SERPS/SP2 they could have accrued over £300 per week State pension instead of being capped at £185.15 (or their foundation amount in April 2016, if higher than the nsp).

There are also those like me who are not exactly losers as they still get more than the old basic state pension but cannot achieve the full new pension because there aren't enough post-2016 years available before they reach state pension age.

Silvertabby

nigelbb said:

Silvertabby said:

p00hsticks said:

Silvertabby said:

Martin was wrong (again!).  He should have said 'anywhere in the range of 30 to 50+ years', not '30 to 44'.

I needed 48 years (44 from working, 4 from paying voluntary Class 3s.  When I mentioned this in a previous post I said that someone else on these boards had needed 49 years, and asked if anyone could beat that.  Someone almost immediately popped up with their 50.

and I may be wrong, but going the other way I think we've also had someone posting who had already reached the maximum with only 29 years (because they had built up a lot of SERPS/S2P prior to 2016),

Good point.  This person, and others like them, are the only losers under the new scheme.  Had they been able to continue racking up SERPS/SP2 they could have accrued over £300 per week State pension instead of being capped at £185.15 (or their foundation amount in April 2016, if higher than the nsp).

There are also those like me who are not exactly losers as they still get more than the old basic state pension but cannot achieve the full new pension because there aren't enough post-2016 years available before they reach state pension age.

Similar situation to Mr S, who gets £15 per week less than the full nsp for that very reason.  But we don't consider this to be a 'loss', just the way it is.

Especially as he, having retired at 60, benefitted from 2 years of 'free' NI credits*, whereas I paid 4 years of voluntary Class 3s to bump up mine.

* Just in case some people are wondering why he got this freebee:

A woman born on the same day would have received her State pension at 63 years and 4 months, whereas his SPA was 65.  However, as part of the State pension age re-equalisation process, 63 years and 4 months was his Pension Credit age.  He obviously didn't qualify for means tested PC itself, but that still opened the door to the winter fuel allowance, bus pass and, the bigee, automatic NI credits.

The automatic credits only applied to men who weren't working/paying NI or claiming benefits, so may not have affected a huge number of men, which is why not many people seem to have known about it.

desrese

My wife retired at age 60 in 2018 and from what I understand from reading this forum, she is not affected by the April rush and we can start to pay the additional contributions after April 6th.

If someone can tell her how many extra years she has to pay and how much, we will really appreciate it. BTW I still think it’s complicated lol.

Current amount accrued up to April 2022 - £172.51

Number of pre 2016 years full - 41

Number of post 2016 years full - 3

Financial year you reach state retirement - 2025

Any COPE amount shown £23.97 /per week

Years which show not full and prices

19/20 - £824.20

20/21 - £795.60

21/22 - £800.80

molerat

She needs 3 more years to reach the max.  She has 3 years going forward and 3 spare going back.  2 years will add £5.29 each and get her to £183.09 and the third will add £2.06 taking her to £185.15.  The only pre April rush from your point of view is that 19-20 and 20-21 increase in price to £907.40 after then. 21-22 will stay at £800.80 until April 24 and 22-23 will stay at £824.20 until April 25.  Any chance of "granny credits" from looking after grandchildren ?

desrese

Thanks molerat. No grandchildren now or in the future unfortunately.