Can I pay state pension contributions in advance in case of unemployment in future

NellyByeBye

Hi
Question: Can I pay for the next 6 years of pension contributions in advance 2024/5 - 2030/31?
I am self-employed and am up to date with pension contributions so far with about 6 more years of contributions to make in the 8 years I have left to do so. The problem is I am not winning work like I used to and I think it is probably due to my age. So if ageism is stopping me winning work now it will only get worse in the years to come. I would like to pay the remaining 6 years of my pension contributions now as a lump sum while I can. Is this possible? I know we can make back payments but what about future ones for self-employed people who are nearing their 60s?
Thanks for any advice
Nelly.

p00hsticks

no you can't, only as and when the years becomes current. 

QrizB

NellyByeBye said:

I would like to pay the remaining 6 years of my pension contributions now as a lump sum while I can. Is this possible? I know we can make back payments but what about future ones for self-employed people who are nearing their 60s?

While you can't make back payments, you could squirrel away 6 years of NI payments in a savings account and use those to make future payments as they come due.

If you remain technically self-employed for those six years there's also the possibility that your income will fall far enough that you earn your NI credits witout having to actually pay any NI.

NellyByeBye

Hello,

I have a question about NI contributions towards my state pension please.

As well as being registered as self-employed, I have started working a zero hour contract job.  
In 24/25 I won't earn any income from self-employment and will only have income from my zero hour contract which I have just started in Nov 24. I get work some weeks but not others and it is part time approx 16 hours a week at the most.
I expect that by year end April 25 I won't have reached the 12,750 threshold.
I see that my employer has paid NI contributions on my first pay slip this month. 
My question is will I have to top up my state pension contributions for this year 23 / 24 paying voluntary contributions ? 
Thanks for any help. I have been self-employed so long I don't know how this works.
Thanks,

molerat

If you earn 52 times the LEL in a year - £123 pw so £6396 with certain caveats - you should receive a full year.  Failing that you would need to pay voluntary contributions for the weeks where your income was below £123.  You won't find out until from around July 2025.

Dazed_and_C0nfused

NellyByeBye said:

Hello,

I have a question about NI contributions towards my state pension please.

As well as being registered as self-employed, I have started working a zero hour contract job.  
In 24/25 I won't earn any income from self-employment and will only have income from my zero hour contract which I have just started in Nov 24. I get work some weeks but not others and it is part time approx 16 hours a week at the most.
I expect that by year end April 25 I won't have reached the 12,750 threshold.
I see that my employer has paid NI contributions on my first pay slip this month. 
My question is will I have to top up my state pension contributions for this year 23 / 24 paying voluntary contributions ? 
Thanks for any help. I have been self-employed so long I don't know how this works.
Thanks,

Do you mean 2024-25?