Worth buying back years - state pension

sidneyyoungblood

Can anyone please give me some advice on my state pension
.
I am 49 , Soletrader and have 18 years of full NI  payment.


My current forecast is 

You can get your State Pension on 20 March 2042

Your forecast is £221.20 a week, £961.83 a month, £11,541.90 a year"

Estimate based on your National Insurance record up to 5 April 2024

£113.76 a week

I have checked and their are 5 years I can buy but none are partial so would be the full amount of around £824 .

Not too sure it is worth buying these years I am self employed / sole trader and pay a lower rate until I get the pension but not 100% sure .. 

Any help would be appreciated..

QrizB

If you're planning to continue to work until state pension age, no there's no need to buy any missed years.

Dazed_and_C0nfused

sidneyyoungblood said:

Can anyone please give me some advice on my state pension
.
I am 49 , Soletrader and have 18 years of full NI  payment.


My current forecast is 

You can get your State Pension on 20 March 2042

Your forecast is £221.20 a week, £961.83 a month, £11,541.90 a year"

I have checked and their are 5 years I can buy but none are partial so would be the full amount of around £824 .

Not too sure it is worth buying these years I am self employed / sole trader and pay a lower rate until I get the pension but not 100% sure .. 

Any help would be appreciated..

The amount of State Pension you have currently accrued would be useful.

sidneyyoungblood

Dazed_and_C0nfused said:

sidneyyoungblood said:

Can anyone please give me some advice on my state pension
.
I am 49 , Soletrader and have 18 years of full NI  payment.


My current forecast is 

You can get your State Pension on 20 March 2042

Your forecast is £221.20 a week, £961.83 a month, £11,541.90 a year"

I have checked and their are 5 years I can buy but none are partial so would be the full amount of around £824 .

Not too sure it is worth buying these years I am self employed / sole trader and pay a lower rate until I get the pension but not 100% sure .. 

Any help would be appreciated..

The amount of State Pension you have currently accrued would be useful.

Thanks , it comes up as Estimate based on your National Insurance record up to 5 April 2024 £113.76 ,