Please can any of you Knowledgeable chaps put me straight on What I think might happen with Mine and my Wife's Pensions. as we may have an opportunity to retire early (buy a boat and !!!!!! off)
Me: aged 59, I according to the Gov site I have 37 years of contributions (I had 6 years out of the country not contributing) it is my belief that I will receive full state pension at retirement age?
I am currently self employed paying a set amount of NI per month, I assume that if I stop earning, I can also stop contributing?
The Wife: aged 49, she has worked pretty constantly apart from about 1 year when she was made redundant, but did claim benefits, I haven't yet checked but I guess she will have 33 years to her credit. Would I be right in thinking that she may need to pay voluntary contributions for a couple of years to top it up to the magical 35 years of contributions, either that or receive a reduced pension.
Or if we are only away 6 months of the year, and get work (pay stamp) for the remaining 6 months, do those 2 x 6 months of contributions count as 1 year
Many thanks in advance
Pete