Info please

My partner gets his state pension in March 2025 and though he has some missing years, he has 41 years of full contributions according to gov.uk website, so would he need to buy extra years would you know?


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  • pencove said:

    My partner gets his state pension in March 2025 and though he has some missing years, he has 41 years of full contributions according to gov.uk website, so would he need to buy extra years would you know?




    It depends how much he has accrued to date.

    Has he checked (in detail, just not the headline) his State Pension forecast on gov.uk?
  • pencove
    pencove Posts: 22
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    Yes he has checked but not sure how this works, buying years?  He retired in 2020 and therefore has 3 years nearly 4 years where he has not paid NIC? 

    Thanks Julie
  • eskbanker
    eskbanker Posts: 29,799
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    pencove said:
    Yes he has checked but not sure how this works, buying years?  He retired in 2020 and therefore has 3 years nearly 4 years where he has not paid NIC? 

    Thanks Julie
    But the question was trying to establish whether he's already reached the maximum, i.e. whether or not there's actually anything to be gained by further voluntary contributions?
  • pencove
    pencove Posts: 22
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    No he has not reached the maximum pension if that is what you mean? how would we know if there is anything to be gained by further voluntary contributions, sorry but not really up on this?

    Thanks
  • eskbanker
    eskbanker Posts: 29,799
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    edited 28 November 2023 at 6:59PM
    The state pension forecast should clarify various figures, including his entitlement based on contributions up to the end of the last tax year and what his maximum achievable pension is - the gap between these two figures can generally be closed by making additional voluntary NI contributions, so if you share those two weekly figures (i.e. current and maximum entitlement) that'll help.

    https://www.moneysavingexpert.com/savings/voluntary-national-insurance-contributions/#pensionforecast
  • When he checked his State Pension Forecast it would have said how much he has so far, how much he could get if he contributed more and how much each year would cost. If you put those details here, someone would be able to help.

    There will also be a COPE amount further down the page.
  • p00hsticks
    p00hsticks Posts: 12,573
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    There will also be a COPE amount further down the page.
    AS I recall if there is a COPE amount the main forecast page says something along the lines of 'like many others, at sone point in your career yo uhave been contracted out.....' with a following link to click to show the actual cOPE amount. 

    THE COPE is only really significant if you are thinking of buying any pre-2016 years. 
  • pencove
    pencove Posts: 22
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    Hi here goes: it says

    You need to continue to contribute National Insurance to reach your forecast

    Estimate based on your National Insurance record up to 5 April 2023 is £185.36 a week

    Forecast if you contribute until 5 April 2024

    £191.18 a week

    You can improve your forecast

    You have shortfalls in your National Insurance record that you can fill and make count towards your State Pension.

    The most you can increase your forecast to is

    £202.83 a week#


    Is that what is needed?
    Thanks




  • eskbanker
    eskbanker Posts: 29,799
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    If he pays three years worth of voluntary NI contributions, each will deliver a £5.82 increase in weekly pension, so that would almost exactly take him up to the maximum.

    The costs for each available gap year will be shown in his NI listing, and the actual process of topping up is explained in the article linked above....
  • pencove
    pencove Posts: 22
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    He has a public service pension and was contracted out before 2016 so maybe not worth it?

    Thanks
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