NI Top Up Deadline Extended To 5th April 2025

molerat
molerat Posts: 31,818 Forumite
Name Dropper Photogenic First Post First Anniversary
edited 13 June 2023 at 2:47PM in Topping up your state pension
Worthy of a post of its own.  Cut off date extended to 5 April 25 and prices held at 2022-23 rates until then.

«1

Comments

  • MallyGirl
    MallyGirl Posts: 6,612 Senior Ambassador
    Photogenic First Anniversary Name Dropper First Post
    I have pinned it to the top
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
  • MSE_James
    MSE_James Posts: 1,171 Community Admin
    First Post First Anniversary Cashback Cashier Newshound!
    Official MSE Forum Team member.
    Please report all problem posts to forumteam@moneysavingexpert.com
  • MikeyPGT
    MikeyPGT Posts: 309 Forumite
    First Anniversary First Post Photogenic Name Dropper
    Does that mean I can hang on to my hard earned cash for another two years even though I have already got a payment reference number?
    Debt Free Wannabe by 1 March 2026 

    Satisfied customer of Octopus Agile - currently saving on average 33% of standard tarrif

    Deep seated hatred of Scottish Power and all who sail in her - would love to see Ofgem grow a pair and actually do something about it.
  • molerat
    molerat Posts: 31,818 Forumite
    Name Dropper Photogenic First Post First Anniversary
    Yes.  There may be an on line reference number service by the end of the year.
  • I've just checked my National Insurance record and pension forecast as advised.

    I only have 1 year not full and the pension forecast is for the full amount however some of the full years on my National Insurance record say "You did not make any contributions this year" which is a bit of a worry.

    Has anyone else got this situation?

    From the advice on this site if the pension forecast is full I don't need to do anything but I'd like to understand to set my mind at rest. I submit a self-assessment tax return due to receiving dividends if that makes a difference.
  • molerat
    molerat Posts: 31,818 Forumite
    Name Dropper Photogenic First Post First Anniversary
    edited 15 June 2023 at 1:24PM
    "You did not make any contribution" means just that.  Did you pay NI contributions in those years or are there credits mentioned ? I believe if you are credited by being paid between the LEL & PT there is no mention of how those credits were applied in the same way as you paid £x but there is nothing to say how you actually achieved the full year. The state pension forecast is all about interpreting the detail. Does your forecast give one and only one amount or are there different amounts shown ? Post up your full forecast details and someone will comment.
    Current weekly £££.pp amount accrued up to April 2022 (or 2023 as some have been updated)
    Number of pre 2016 NI years full
    Number of post 2016 NI years full
    Tax year you reach state retirement
    Any COPE amount shown, in a click link in "You've been in a contracted-out pension scheme" if there is one.
    Years which show not full and prices

  • debbie140 said:
    I've just checked my National Insurance record and pension forecast as advised.

    I only have 1 year not full and the pension forecast is for the full amount however some of the full years on my National Insurance record say "You did not make any contributions this year" which is a bit of a worry.

    Has anyone else got this situation?

    From the advice on this site if the pension forecast is full I don't need to do anything but I'd like to understand to set my mind at rest. I submit a self-assessment tax return due to receiving dividends if that makes a difference.
    "You did not make any contribution" means just that.  Did you pay NI contributions in those years or are there credits mentioned ? I believe if you are credited by being paid between the LEL & PT there is no mention of how those credits were applied in the same way as you paid £x but there is nothing to say how you actually achieved the full year. The state pension forecast is all about interpreting the detail. Does your forecast give one and only one amount or are there different amounts shown ? Post up your full forecast details and someone will comment.
    Current weekly £££.pp amount accrued up to April 2022 (or 2023 as some have been updated)
    Number of pre 2016 NI years full
    Number of post 2016 NI years full
    Tax year you reach state retirement
    Any COPE amount shown, in a click link in "You've been in a contracted-out pension scheme" if there is one.
    Years which show not full and prices


    I have 30 years of NI contributions showing. Dating from 93/94 to 22/23 with 25 full years (3 of those years are NI credits from being in full time education). The missing 5 are 4 years in higher education and 1 year (13/14) just says not full with no further detail.

    The pension forecast based on contributions up to 2023 are £158.89 a week. Based on another 8 years before 5 April 2044 it's £203.85 a week and it says You cannot improve your forecast any further, unless you choose to put off claiming.

    It's the years 2014 - 2023 that show as Full but viewing the details says 
    "You did not make any contributions this year" with no further information. 
  • molerat
    molerat Posts: 31,818 Forumite
    Name Dropper Photogenic First Post First Anniversary
    If the years are showing as full then what is the problem ?  I have explained how that can happen.  Were you on low wages for those periods ?
    You currently need another 8 years of contributions with 21 years to get there so little point in worrying too much, you can easily get there with employment or other forms of contributions / credits.
  • molerat said:
    If the years are showing as full then what is the problem ?  I have explained how that can happen.  Were you on low wages for those periods ?
    You currently need another 8 years of contributions with 21 years to get there so little point in worrying too much, you can easily get there with employment or other forms of contributions / credits.
    Thanks molerat :) Some of my income comes from dividends so my PAYE during that period was low. That's probably what it is but I just wanted to make sure I understood. I had a , perhaps unfounded,  fear of someone saying I didn't make contributions so it doesn't count down the line!
  • debbie140 said:
    molerat said:
    If the years are showing as full then what is the problem ?  I have explained how that can happen.  Were you on low wages for those periods ?
    You currently need another 8 years of contributions with 21 years to get there so little point in worrying too much, you can easily get there with employment or other forms of contributions / credits.
    Thanks molerat :) Some of my income comes from dividends so my PAYE during that period was low. That's probably what it is but I just wanted to make sure I understood. I had a , perhaps unfounded,  fear of someone saying I didn't make contributions so it doesn't count down the line!
    Well if you didn't make contributions (or more importantly either earn at the LEL or receive credits) there won't be anything to count.

    But I think you're missing the bigger picture here. 

    You will almost certainly be constrained by the standard £203.85 but have 21 more year in which to add the 8 years you need so if you're expecting to add another 8 years anyway there really isn't any need to worry about what's happened in previous years.
Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards