If the Government raises the pension age, is it worth pay for NI missing years now?

eskbanker

SimonFF said:

eskbanker said:

SimonFF said:

eskbanker said:

SimonFF said:

I have one missing year to get the estimated full state pension (I am 57), but it is a lot of money. Why should I pay for it if then this or the next government raises the pension age?

If you're 57 now then you'll receive the state pension from 2034 - the current plan is to increase the age to 68 sometime between 2044 and 2046, but even if that was to be brought forward, there remains a commitment to at least ten years notice, so it's highly unlikely that there's anything that would change your SPA.  Any government can change any legislation of course, but it would have to be a remarkable change to affect someone of your age.

This has been triggered by reading that Italy is planning to raise the pension age to 70.

Why would events in Italy have any bearing on the UK?  Even when we were in the EU, I don't recall any strong alignment of pension legislation, and it would be even less now....

Because Italy is usually depicted in the British press as a country of lazy buffoons who don't like working. If anything, any Western/Nordic European government can say "If even the Italians accept to retire at 70..."

Are you seriously suggesting that lazy and dated national stereotypes have any role to play in setting UK pension legislation?!  Anyway, the point isn't about where UK state pension age might ultimately get to, but the pace at which it changes, and so, as above, it's vanishingly unlikely that a 57 year old will have more than ten years to wait to draw theirs....