Should I buy a partial NI year from 2010/11 if I am only 32 years old?

tomjohnrose

I have 17 years of NI records, all are full, apart from 2010/11 which is showing as partial. There is a £80 voluntary contribution I can pay to make it a full year. But I plan to be in employment for the next 36 years. Should I pay this? Thank you

Dazed_and_C0nfused

tomjohnrose said:

I have 17 years of NI records, all are full, apart from 2010/11 which is showing as partial. There is a £80 voluntary contribution I can pay to make it a full year. But I plan to be in employment for the next 36 years. Should I pay this? Thank you

Given your future employment expectations I wouldn't bother.

Sea_Shell

You have to ask yourself whether a "bird in the hand is worth two in the bush"?

Yes, on the one hand you have plenty of time to accrue "free" years, the usual way, via NI contributions.

However, £80 is a very cheap year to buy.    So would be tempting, just in case your employment plans change.

What is £80 to you?    Small change, a night out, or a months groceries.   Do you have any debt? that would be better cleared with that £80.   

la531983

Given you wont need anywhere near 36 more years in employment to get up to the maximum, paying it is almost pointless tbf.

sammyjammy

Sea_Shell said:

You have to ask yourself whether a "bird in the hand is worth two in the bush"?

Yes, on the one hand you have plenty of time to accrue "free" years, the usual way, via NI contributions.

However, £80 is a very cheap year to buy.    So would be tempting, just in case your employment plans change.

What is £80 to you?    Small change, a night out, or a months groceries.   Do you have any debt? that would be better cleared with that £80.   

THIS.

Nobody knows what the future might hold, rules change, life happens.

Tucosalamanca

sammyjammy said:

Sea_Shell said:

You have to ask yourself whether a "bird in the hand is worth two in the bush"?

Yes, on the one hand you have plenty of time to accrue "free" years, the usual way, via NI contributions.

However, £80 is a very cheap year to buy.    So would be tempting, just in case your employment plans change.

What is £80 to you?    Small change, a night out, or a months groceries.   Do you have any debt? that would be better cleared with that £80.   

THIS.

Nobody knows what the future might hold, rules change, life happens.

Agreed, it's one of those moments where it could be £80 wasted, or it could turn out to be one best £80 they've ever spent.

squirrelpie

Although you currently plan to be employed, and thus pay NI, for another 36 years there are many reasons why you might not. Nobody can know for sure. You might suffer an injury or a disease that stops you working. You might decide you want to retire earlier than 68. You might move abroad to a more enjoyable job. I'm sure there are more possibilities. So as others have hinted: "Do you feel lucky?"