Possible to Buy 1 Additional Year

kassy64

So, doing a quick calculation. As a 20% rate taxpayer my additional £3.81 per week (£4.77 - 20% income tax) it will take me approx. 236 weeks or 4.5 years to recoup the additional £900 outlay for the extra year. So I need to around until at least  71.5 yo. This doesn't account for any interest I may have earnt on the initial £900 of course, plus inflation will have an impact but it gives a general guide of cost v gain.
Thanks for the help everyone.

Dazed_and_C0nfused

That £3.81 will probably have become around £4.15 by next April so knocking 20 or so weeks off that.

Difficult investment to beat really 😃

Rodders53

You need to decide whether to gamble on living that long -- 8 years to SP age plus the 4.5 to recoup (exc tax).  The approx £900 will rise with inflation - but so does the state pension.
Some suggest leaving the purchase til the 'last moment'.

kassy64

Dazed_and_C0nfused said:

That £3.81 will probably have become around £4.15 by next April so knocking 20 or so weeks off that.

Difficult investment to beat really 😃

Rodders53 said:

You need to decide whether to gamble on living that long -- 8 years to SP age plus the 4.5 to recoup (exc tax).  The approx £900 will rise with inflation - but so does the state pension.
Some suggest leaving the purchase til the 'last moment'.

Many thanks, plenty to think about and no rush.