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National Insurance calculation

I retired from work this July and was wondering if my National Insurance contribution for this tax year (2023/24) will count as a full year for State Pension purposes even if I don’t complete anymore paid employment this tax year.
I have already earn’t more than the £6396 from a single employer this year which I believe is the minimum threshold for a full years credit
Am I right in my thinking?

Comments

  • I retired from work this July and was wondering if my National Insurance contribution for this tax year (2023/24) will count as a full year for State Pension purposes even if I don’t complete anymore paid employment this tax year.
    I have already earn’t more than the £6396 from a single employer this year which I believe is the minimum threshold for a full years credit
    Am I right in my thinking?

    Was this earned reasonably evenly?

    If so was it over 3 or 4 months in this tax year?
  • Yes this was earn’t over the first 4 months in this tax year 
  • I retired from work this July and was wondering if my National Insurance contribution for this tax year (2023/24) will count as a full year for State Pension purposes even if I don’t complete anymore paid employment this tax year.
    I have already earn’t more than the £6396 from a single employer this year which I believe is the minimum threshold for a full years credit
    Am I right in my thinking?

    Was this earned reasonably evenly?

    If so was it over 3 or 4 months in this tax year?
    Yes this was earn’t evenly over the first 4 months of this tax year
  • molerat
    molerat Posts: 33,584 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    As long as each monthly pay was above £533 and discounting any monthly pay above £4189 then you should be OK.  You will likely not find out until around this time next year.
  • Marcon
    Marcon Posts: 13,028 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Combo Breaker
    I retired from work this July and was wondering if my National Insurance contribution for this tax year (2023/24) will count as a full year for State Pension purposes even if I don’t complete anymore paid employment this tax year.
    I have already earn’t more than the £6396 from a single employer this year which I believe is the minimum threshold for a full years credit
    Am I right in my thinking?

    Was this earned reasonably evenly?

    If so was it over 3 or 4 months in this tax year?
    Are you a director (in which case NI is based on the whole year and 'when' you earned your pay doesn't matter).

    If you reach state pension age in this tax year, then it won't count regardless.
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
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