state pension at 50 yr old

bukwali

Hi, I havent lived in the UK since 1996, however i have kept my voluntary N.I. payments upto date. Having worked since the age of 16, I already have at least 33 years of payments in hand. 20 years of that was working in various positions for local authority so superanuation was paid during these years, I have recently heard that some people are able to access some of there state pension at the age of 50, if they will reach 50 before the year 2010. Can anyone give any further details on this [ i do not have any form of private pension]

Any help would be appreciated

John

dunstonh

I have recently heard that some people are able to access some of there state pension at the age of 50, if they will reach 50 before the year 2010. Can anyone give any further details on this [ i do not have any form of private pension]

You have misunderstood.

You can access personal pensions from age 50 but that increases to age 55 from 2010. The state pension remains 65 (increasing to 68 in stages from from 2024)

EdInvestor

bukwali wrote: »

Hi, I havent lived in the UK since 1996, however i have kept my voluntary N.I. payments upto date. Having worked since the age of 16, I already have at least 33 years of payments in hand.

In that case you should now be able to stop paying for any more because the rules have changed - anyone retiring after 2010 will only need 30 years for the full basic state pension.

You could try writing and asking for a refund of the 3 years you've overpaid.

https://www.thepensionservice.gov.uk

janienewcastle

there are some really harsh rules and regs for obtaining a refund (i work for HMRC-NICO) A refund will only be due if conts have been paid in error after may 2006, if conts do not make up a full qualifying year - you may get a refund for this tax year if youre quick!!, Good Luck!!!!