Pension credit and NI. I don't understand 😭

MEConfusedaboutpensions

I don't understand. I was born in 1961.
What's the need to top up NI credits, when pension credit automatically tops you up to the full pension amount anyway? If I top up, won't I lose out? because it is pointless to buy the credits? If I don't top up, I will get the same amount of pension because the pension credit will top me up to the same amount anyway, plus I will get the perks that come with pension credit, eg winter fuel allowance and TV license etc. Why are people topping up? Am I missing something???

Flugelhorn

you would only get pension credit if you have no other income - if you have any other income then best to maximise the state pension

molerat

Already asked and answered this morning

https://forums.moneysavingexpert.com/discussion/comment/81350537#Comment_81350537

Marcon

MEConfusedaboutpensions said:

I don't understand. I was born in 1961.
What's the need to top up NI credits, when pension credit automatically tops you up to the full pension amount anyway? If I top up, won't I lose out? because it is pointless to buy the credits? If I don't top up, I will get the same amount of pension because the pension credit will top me up to the same amount anyway, plus I will get the perks that come with pension credit, eg winter fuel allowance and TV license etc. Why are people topping up? Am I missing something???

What makes you think pension credit will be around for the whole of your retirement?