Help please deciding whether to buy additional NI years

34 Posts


Hi, I read the thread here https://forums.moneysavingexpert.com/discussion/6429046/future-pension-centre-is-a-joke/ and saw forumites like @Poohsticks and @molerat were very helpful, we've tried the FPC but like many haven't got through yet. Can anyone advise on whether extra payments will make a difference to the forecast and if so what needs to be paid? The details are:
Headline amount of pension forecast ? £164
Current forecast amount as at April 2022 £148
How many years available to pay going forward 3
Number of full NI years prior to 2016 33
Number of full NI years post 2016 none
What past years are available to pay and for how much
2006/2007 £824
2007/2008 £380
2015/2016 checking
2016/2017 checking
2017/2018 £824
2018/2019 £824
2019/2020 £824
2020/2021 £796
2021/2022 £801
Whether there is a COPE amount mentioned and if so what it is (it should show a link to it if there is something along the lines of 'like many others at some point you were contracted out of the additional state pension')
Yes £26
Thanks in anticipation
Headline amount of pension forecast ? £164
Current forecast amount as at April 2022 £148
How many years available to pay going forward 3
Number of full NI years prior to 2016 33
Number of full NI years post 2016 none
What past years are available to pay and for how much
2006/2007 £824
2007/2008 £380
2015/2016 checking
2016/2017 checking
2017/2018 £824
2018/2019 £824
2019/2020 £824
2020/2021 £796
2021/2022 £801
Whether there is a COPE amount mentioned and if so what it is (it should show a link to it if there is something along the lines of 'like many others at some point you were contracted out of the additional state pension')
Yes £26
Thanks in anticipation
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Replies
But what do you expect to happen going forward? Will you add the 3 years or would those have to be bought as well (if needed)?
You have also omitted the pence from your figures. How much have you accrued so far £148.??
But it could be argued buying the eighth and final year isn't good value for money as it will only add the last £0.43/week or £22.36/year (pre tax).
The COPE amount can be ignored.
Have you been self employed in the past?