State Pension Help Please

deemic007

Hi everyone,
I am new to this forum and after watching Martin's programme on the 4th March regarding the state pension I decided to dig a bit deeper and look at my National Insurance statement. Up until now I had only looked at the forecast which told me I was on track for the full pension, £221.20 currently.  
It has come as a bit of a shock to find that I had 3 not full years 2002 to 2003, 2003 to 2004 and then 2011 to 2012.  The first two I am unable to make contributions towards as that window has now closed however I can make a payment for 2011 to 2012 before the 5th April 2025.
Calculating my contributions I have made 31 full years to April 2016 which means I fully qualified for the 'old' pension.  My questions is I have 9 full years in the new pension from April 2016 and I plan to retire next year meaning I will have 10 full years in the new pension.  In total I will have contributed 41 years into the state pension.  Should I top up the missing year 2011 to 2012, or is this a waste?
Will I receive the full state pension of £221.20 (or whatever it will be when I am 67)?
Thanks in advance.

TheSpectator

What does the rest of the forecast say in terms of how much pension you have accrued to 5 April 2024 and how many more years contributions you need?

molerat

With 30 pre 2016 years and 9 post 2016 (including 24-25) you will already be at the max - but you cannot have 9 post 2016 years showing on your record yet because 24-25 is not complete.  But as above, your forecast will tell all.

deemic007

Thanks both for your quick responses.  TheSpectator - it says I have full pension, however I think I have gotten confused that it was basing this on the fact I would work until I was 67 - which I am definitely not. 
molerat, yes you are right that 24-25 is not complete however will be for this year as in full time employment and also plan to work until the end of financial year 2026.  
I am thinking now that I do not have to pay the year I missed 2011-2012?
Thanks for your help

molerat

deemic007 said:

Thanks both for your quick responses.  TheSpectator - it says I have full pension, however I think I have gotten confused that it was basing this on the fact I would work until I was 67 - which I am definitely not. 
molerat, yes you are right that 24-25 is not complete however will be for this year as in full time employment and also plan to work until the end of financial year 2026.  
I am thinking now that I do not have to pay the year I missed 2011-2012?
Thanks for your help

If you have 30 pre 2016 years you will have at least the old basic state pension amount - £169.50.  That leaves a maximum of £51.70 to make up after 2016 which will take a maximum of £51.70 / £6.32 = 8.2 so 9 full years.

deemic007

molerat said:

deemic007 said:

Thanks both for your quick responses.  TheSpectator - it says I have full pension, however I think I have gotten confused that it was basing this on the fact I would work until I was 67 - which I am definitely not. 
molerat, yes you are right that 24-25 is not complete however will be for this year as in full time employment and also plan to work until the end of financial year 2026.  
I am thinking now that I do not have to pay the year I missed 2011-2012?
Thanks for your help

If you have 30 pre 2016 years you will have at least the old basic state pension amount - £169.50.  That leaves a maximum of £51.70 to make up after 2016 which will take a maximum of £51.70 / £6.32 = 8.2 so 9 full years.

Thanks for that and you have confirmed the calculations I working on.  There is some confusing advice out there and that is what through me.
Looks like early retirement for me then.  Thanks again for your help.