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National insurance gap costs
mjm69
Posts: 2 Newbie
Hi, I am told I have gaps in my NI record resulting in a shortfall of my forecast state pension. In being invited to fill these gaps by purchasing full years at approximately £940 a year I’m confused at how I can currently work part time and last year contribute £247 but still be awarded a full year.
Can anyone shed light on this very very murky world of contributions. Surely there is a minimum contribution level for all to meet each year?
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Comments
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Credits from working are based on earning a minimum of £125 per week for the 25-6 tax year, you pay nothing until you earn £242 per week. There is no relationship between earned contributions and the cost of voluntary, it is just what it is.
Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
Being hated by idiots is the price you pay for not being one of them.
Jean Cocteau 1889-1963
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Plus your employer NI contributions, which will be higher than your £247.
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