Is it worth paying missing NI contributions

MochaBaby

Looking at my NI contributions I have full years 1986/7-2018/19, 2023/24 and this year.

When I look at how much needs paying to make it up to a full year it is:
2019/20 £95.10
2020/21 £382.50
2021/22 £462
2022/23 £158.50
A total of £1098.10

Howvever, checking my pension forecast it is showing that I will get the maximum of £221.20 per week,so is it worth me paying for those  missing years?

Thanks




,

molerat

Your forecast says a lot more than just "showing that I will get the maximum of £221.20 per week"

Whether it is worth paying for gaps depends on a number of different factors.

The big green box is simply what you could be expected to achieve going forward

The text below the big green box states what you need to to do to get that amount and is really more important than that big green box.

It is not as simple as asking "should I pay those years".

Post up the following and someone will give you pointers

Current weekly £££.pp amount up to April 2024.
Number of full NI years 15-16 and earlier
Number of full NI years 16-17 and later
Tax year you reach state retirement
Any COPE amount.  If you have "You've been in a contracted-out pension scheme" on your forecast then click
here https://www.tax.service.gov.uk/check-your-state-pension/account/cope whilst logged into your tax account

Or does the text below the box state

£221.20 is the most you can get
You cannot improve your forecast any more

MochaBaby

Thank you.

It states £221.20 is  the most you can get,   You cannot iprove your forecast anymotr

MochaBaby

Thank yoyu for the reply.

It states 
£221.20 is the most you can get.
You cannot improve your forecast anymore

molerat

In which case you are home and dry, you need do nothing more and you will receive that full pension.