NI Top Ups

rayker89

Like many people I've tried repeatedly to get through to the Future Pensions Centre with no luck. I'm trying to work out if it's worth husband paying to top up his NI contributions before the July deadline.

@molerat if you could offer any words of advice I'd appreciate it. He is only 45 so right on the younger cusp of the age bracket. Looking at the figures and having read alot on here my gut feeling is that we should pay the top up due for 20/21, 19/20 and 18/19 totalling around £2500 - and then given his age he has got another 23 years to contribute more. He is hoping to retire 5-10 years early but that would still give him another 10ish years of contributions - and any other shortfall years we could then pay at the time he chooses to retire - is that the case? I'm a bit confused about the 35/35ish years needed number so apologies if I'm way off. 

Figures below  - where it says checking it has said that for many months and not changed - I think in most cases he just earned very little in those earlier years as he was self employed and just starting out and often didn't earn very much so chose not to pay any voluntary contributions. I've seen much discussion about pre and post 2016 but don't really undersand that so I'm not sure if we should be pressing to pay some of the pre-2016 shortfalls as well as it would be cheaper.

Also a slightly separate question - if you get to the point where your pension can't go up anymore - i.e. you reach the maximum of £203.85 p/w - can you then stop paying voluntary NI contributions and your pension will remain unaffected - appreciate this is a moral as well as legal question

many thanks Kay

Number of pre 2016 years full - 19
Number of post 2016 years full - 3
Financial year you reach state retirement 2045/46
Any COPE amount shown - N/A
Years which show not full and prices

2020/21 - £795.60
2019/20 - £824.20
2018/19 - £824.20
2017/18 – checking
2016/17 – checking
2010/11 – checking
2007/08 – checking
2005/06 - checking

 

You can get your State Pension on 6 March 2046
Your forecast is £203.85 a week, £886.38 a month, £10,636.60 a year
You need to continue to contribute National Insurance to reach your forecast

Estimate based on your National Insurance record up to 5 April 2023 £128.13 a week Forecast if you contribute another 13 years before 5 April 2045 £203.85 a week

You have:

• 22 years of full contributions
• 22 years to contribute before 5 April 2045
• 8 years when you did not contribute enough

2023 to 2024   Your record for this year is not available yet

2022 to 2023   Full year

2021 to 2022   Full year

2020 to 2021   Year is not full

You did not make any contributions this year
You can make up the shortfall
Pay a voluntary contribution of £795.60 by 5 April 2027. This shortfall may increase after 31 July 2023. Find out more about voluntary contributions

2019 to 2020   Year is not full

You did not make any contributions this year
You can make up the shortfall
Pay a voluntary contribution of £824.20 by 5 April 2026. This shortfall may increase after 31 July 2023. Find out more about voluntary contributions

2018 to 2019   Year is not full

You did not make any contributions this year
You can make up the shortfall
Pay a voluntary contribution of £824.20 by 5 April 2025. This shortfall may increase after 31 July 2023. Find out more about voluntary contributions

2017 to 2018   Year is not full
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.

2016 to 2017   Year is not full
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.

2015 to 2016   Full year
2014 to 2015   Full year
2013 to 2014   Full year
2012 to 2013   Full year
2011 to 2012   Full year

2010 to 2011   Year is not full          
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.

2009 to 2010   Full year
2008 to 2009   Full year

2007 to 2008   Year is not full
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.

2006 to 2007   Full year

2005 to 2006   Year is not full.
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.

2004 to 2005   Full year
2003 to 2004   Full year
2002 to 2003   Full year
2001 to 2002   Full year
2000 to 2001   Full year
1999 to 2000   Full year
1998 to 1999   Full year
1997 to 1998   Full year
1996 to 1997   Full year
1995 to 1996   Full year
1994 to 1995   Full year
1993 to 1994   Full year

MallyGirl

"Also a slightly separate question - if you get to the point where your pension can't go up anymore - i.e. you reach the maximum of £203.85 p/w - can you then stop paying voluntary NI contributions and your pension will remain unaffected - appreciate this is a moral as well as legal question "

once you have reached the max then there is no point in paying further voluntary contributions. If there are mandatory ones - as a result of employment - then you will keep paying as NI covers more than just pension

molerat

I see little point in paying those back years when he needs 13 out of 22 going forward but if he does want to get a bit ahead he needs to speak to HMRC about paying years at class 2.  Any gaps that are available can be safely filled but HMRC are seemingly preventing voluntary class 2 from being paid for some of the earlier years but for any of those post 2016 gaps it should be possible. 

rayker89

Thank you very much both for your help