NI & Pensions

Darkstar

I am just curious at present, but if I retire before 65 and start drawing on my Personal Pension, do I still need to pay National Insurance or is it just tax I need to consider. I will have enough NI credits long before I am 65 as they are reducing the requirement to 30 so will have them before I am 55.

CLAPTON

you dont pay NI on pension income

Darkstar

CLAPTON wrote: »

you dont pay NI on pension income

Brilliant :T

Next question - I am a lot older than my wife. When I am reach 66 and can claim the state pension it will be a long time before my wife could. Can I claim married allowance until she reaches her pension age and then change or once you decide are you committed to that option.

EdInvestor

Darkstar wrote: »

Brilliant :T

Next question - I am a lot older than my wife. When I am reach 66 and can claim the state pension it will be a long time before my wife could. Can I claim married allowance until she reaches her pension age and then change or once you decide are you committed to that option.

Probably not.At the moment if you get the state pension, you can claim "adult dependant's allowance" for a wife under state pension age, but after 2010, this will be stopped.