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National Insurance calculation

Darrandurass
Posts: 3 Newbie

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?
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?
0
Comments
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Darrandurass said: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?
If so was it over 3 or 4 months in this tax year?1 -
Yes this was earn’t over the first 4 months in this tax year0
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Dazed_and_C0nfused said:Darrandurass said: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?
If so was it over 3 or 4 months in this tax year?0 -
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.
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Dazed_and_C0nfused said:Darrandurass said: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?
If so was it over 3 or 4 months in this tax year?
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!2
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