Help needed please re: State Pension shortfall

Silverweed

Hoping for some help if poss please with a relative's state pension situation.
Unfortunately they only currently have 8 years contributions (all pre 2016). 
State pension date of 2035.
Their forecast in the green box is £121.69 a week.  £6,349.61 a year - based on NI record up to April '24,  this is assuming that they will contribute another 10 years.
It says they can improve their forecast.
They have 18 payable gaps - 
14 of the gaps are from 2006/7 through to 2019/20 - all at £824.20 each
1 x 2020/21 - £795.60
1 x 2021/22 - £800.80
1 x 2022/23 - £824.20
1 x 2023/24 - £907.40
Says cannot pay for gaps in their NI record online and need to contact the Future Pension Centre.
Before they do this, so they are more prepared, would really appreciate some input if poss please regarding the buying back of some previous years now.
My understanding is, going forward, they also plan to buy back further years closer to their SP date of 2035, perhaps by utilising the 6 year rule in the intervening years, to maximise their SP as much as poss - although their forecast doesn't appear to indicate how many years in total they would need to reach their maximum?
In these circumstances any thoughts please on how many years and which years they should buy now?  
Thanks in advance for any help.
 

QrizB

Silverweed said:

Hoping for some help if poss please with a relative's state pension

They've left it rather late.

Silverweed said:

Their forecast in the green box is £121.69 a week.  £6,349.61 a year - based on NI record up to April '24,  this is assuming that they will contribute another 10 years.

Underneath the green box it will say how much they've already accrued. Is this £58.49? And what does it say for the maximum they can improve it to?

If the maximum is less than £221.20, they need to buy all the gaps *and* the next ten years.

molerat

Which tax year do they retire in  - before or after April 2035 ? 

As above their current amount should be £58.49.  That means they need another £162.71.  Paying the first 10 years, 06-07 to 15-16 will take them to £114.99.  The remaining 8, 16-17 to 23-24 will take them to £165.55 leaving another 9 required which is 24-25 to 32-33.  The pre 2016 years only add £5.65 each against £6.32 for the post 2016 so if any years are going to be dropped it should be from the pre 2016.  They only need to pay up to 18-19 before April then each April the next one becomes unavailable. But the years 19-20 to 22-23 increase to £923 from April.

Silverweed

Thanks for replying.

Underneath the green box there is not an already accrued figure as they only have 8 years and need at least 10 to qualify for any SP.

There is also no maximum figure indicated on their forecast.

SP date - March 2035.

molerat

So they only have the slack to drop one of the back years and pay up until 33-34.

Have they registered for a callback yet ?  That is the only way to contact DWP now. https://secure.dwp.gov.uk/request-a-call-back-to-pay-voluntary-national-insurance-contributions/contact-form

Silverweed

Thank you very much molerat for your detailed reply and link. Yes, was just hoping for some help and input before their callback.

Silverweed

Update: following consideration of all the help above, which they are most appreciative of, this is what they are now looking to do when they are contacted by the FPC -  

Buy back x 9 of the 10 available years between 2006/7 - 2015/16
and also
Buy back x 7 of the following years between 2016/17 - 2022/23 
(In total buying back x 16 years now)
This should take them to 24 years - it would be helpful to know the approx pension figure they would be entitled to when at this stage if poss please?

They do plan to buy back the most recent 2023/24 year at a later stage and acquire a further 10 years going forward up until 2033/34
(In total a further 11 years)
This should hopefully give them a total of 35 years (8 + 16 + 11) by SP date of March 2035

Would appreciate any thoughts on this approach please. 
Thanks in advance for any further help. 

QrizB

Silverweed said:

Buy back x 9 of the 10 available years between 2006/7 - 2015/16

That should add £50.85 to their current £58.49, for a total of £109.34.

Silverweed said:

Buy back x 7 of the following years between 2016/17 - 2022/23 

And another £44.45, total £153.79.

Silverweed said:

They do plan to buy back the most recent 2023/24 year at a later stage and acquire a further 10 years going forward up until 2033/34 (In total a further 11 years)

Ten more years will add £63.20 at current rates, for a total of £216.99.

The eleventh year will top up the remaining £4.21 and get them to £221.20.

molerat

I make it £153.58, 9 @ £5.65 and 7 @ £6.32

All of course based on the (pretty definite) assumption the current entitlement is £58.49

Silverweed

Thank you both, molerat and QrizB, for your helpful calculations.