Number of NI Contribution Years

Sea_Shell

Ayr_Rage said:

I get my pension next February.

I have been contracted out most of my working life and spent 2 years overseas working for a UK company for which I paid voluntary NI (1983-85)

I retired 7.5 years ago with 43 full years.

According to the gov.uk site I will be 6.58 years short, so that would be 49.58 required for the full pension.

As an aside, does anyone know when the magical "soon" date will actually arrive for missing years to be payable online via your personal account?

I noticed that today too and wondered when this would go live...and if it will work 😉

xylophone

Are you planning to fill that missing year ?

Asked in this thread

https://forums.moneysavingexpert.com/discussion/comment/79878133/#Comment_79878133

eastcorkram

xylophone said:

Are you planning to fill that missing year ?

Asked in this thread

https://forums.moneysavingexpert.com/discussion/comment/79878133/#Comment_79878133

I should do. I know it's VFM ( or likely to be). I might phone to clarify, as I'm unsure that would actually increase it, as the figures look weird anyway. 

I have 16 missing years, all of which are pre 2016, and yet it says that by 2016, I had enough . I've only got 32 years now. So in 2016 I must have had 25 ish 

molerat

Well worth contacting the FPC to confirm.

At April 2016 with 25 years that would have given £99.42 basic with an additional pension of £58.05 so £157.47, just above the full new pension £155.65 (of which your 25 years would have given £111.18).

With under 30 pre 2016 years adding additional years up to 30 cannot fail to add value even if you were already above the full new pension, pity there is only 1

eastcorkram

Just for info. 

Called FPC this morning. On hold around 20 minutes. The man looked at the records and confirmed it would increase, if I paid for 2006-7, as per the online forecast. 

He transferred me to HMRC , and they gave me the account info and 18 digit ref number. So have just paid £824.20, which increases today's forecast from £223.59 to £228.82. 

They said it will take at least 8 weeks to show up on the online forecast. 

hivoodoodoll

Thanks all. Have checked my pension page (hadn’t found it before) so now totally in the know.

Askfirst

eastcorkram said:

Just for info. 

The man looked at the records and confirmed it would increase, if I paid for 2006-7, as per the online forecast. 

Didn't think you could go back that far if filling gaps in your record.

Edit: just checked and found this:

You’re a man born after 5 April 1951 or a woman born after 5 April 1953

You have until 5 April 2025 to pay voluntary contributions to make up for gaps between tax years April 2006 and April 2016 if you’re eligible.

eastcorkram

Askfirst said:

eastcorkram said:

Just for info. 

The man looked at the records and confirmed it would increase, if I paid for 2006-7, as per the online forecast. 

Didn't think you could go back that far if filling gaps in your record.

Edit: just checked and found this:

You’re a man born after 5 April 1951 or a woman born after 5 April 1953

You have until 5 April 2025 to pay voluntary contributions to make up for gaps between tax years April 2006 and April 2016 if you’re eligible.

Yes, it's a weird system. Or at least, was a weird system. Tax year just finished I paid nearly £4,500 in NI, but it doesn't increase my pension. Yet by paying a one off figure for 2006-7, of £824.20, puts it up by £5.17.

At least in a few years time, it'll all be a lot more straightforward for most people. 

molerat

At least in a few years time, it'll all be a lot more straightforward for most people.

Next year in fact. 6th April 2025 is the date when everything will become more simple.  Only able to buy back as far as 2019-20, no need to worry about COPE, no worry as to which years will add value.

eastcorkram

molerat said:

At least in a few years time, it'll all be a lot more straightforward for most people.

Next year in fact. 6th April 2025 is the date when everything will become more simple.  Only able to buy back as far as 2019-20, no need to worry about COPE, no worry as to which years will add value.

Yes, but I guess a while until every single person in work will need 35 years.