Page 2 | To remind you to check your pension contributions before April 2025.

rainbowunicorn · 31/01/2025 08:32

Redrosesposies · 31/01/2025 00:41

Are you sure about that? I've never heard of transferring NI credits to a spouse. I know you can transfer some of your tax free allowance if you are not using it but not NI credits. How did you do it?

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Yes, it is correct that you can do this.

Morph22010 · 31/01/2025 08:16

Dogsbreath7 · 30/01/2025 21:01

Remember you should get credit for children / childcare years if you claimed child benefit. Ditto working /paying in another European country.

Only up to age 12

Harassedevictee · 31/01/2025 07:29

OnTheBoardwalk · 30/01/2025 23:58

So I get if you getting benefits, child benefits etc you get credits

if you are working part time every week what would that impact your contributions? Is there a minimum amount?

@LumpyandBumps For NI you need to hit the Lower Earnings limit for 52 weeks. It’s currently £123 per week.This is reviewed each April.

CrystalSingerFan · 31/01/2025 01:47

AlisonWhatIsTheMatter · 29/01/2025 20:16

I’ve checked mine and even though I was advised to contract out of SERPS in the late 80s, (currently resting in Phoenix Life) I’m not missing any years of contributions ( I think) my forecast on GOV.UK states I cannot improve my forecast anymore.

I was reminded to check again last night after watching Martin Lewis.

Just a reminder to check your contributions before April 2025 otherwise you might not get another chance to ‘plug in’ any gaps.

I’ve attached my GOV.UK forecast so you can compare what yours states.

If only retirement age was still at 60! I’d have 5 years to go. 😩

Thanks for the reminder! My lovely financial advisor recently told me to do this. (I'm 65) He said if I live more than maybe two years beyond the start of my pension, it was 'free money'. And who wouldn't want that? MUST get it done...

Panham · 31/01/2025 00:51

Redrosesposies · 31/01/2025 00:41

Are you sure about that? I've never heard of transferring NI credits to a spouse. I know you can transfer some of your tax free allowance if you are not using it but not NI credits. How did you do it?

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Yes definitely it made so much difference he did a lot of the child care later on and I’ve worked all my life so i had more than I needed and I’ve transferred about 6 years i think. It’s kicked in now there’s a form “You can transfer National Insurance (NI) credits to your partner or carer if you're working and receiving Child Benefit.” If you have credits, you can transfer them to your partner using form CF411A. Just google it there’s a link to gov.uk.

Redrosesposies · 31/01/2025 00:41

Panham · 30/01/2025 20:19

I'm 66 retire this year, I've transferred some of mine because I had too many to my husband , he did the school runs etc. Does it work the other way around? if you have a hubby could they transfer some of theirs if they have more than they need? worth a look I'm sure

Are you sure about that? I've never heard of transferring NI credits to a spouse. I know you can transfer some of your tax free allowance if you are not using it but not NI credits. How did you do it?

rainbowunicorn · 31/01/2025 00:11

OnTheBoardwalk · 30/01/2025 23:58

So I get if you getting benefits, child benefits etc you get credits

if you are working part time every week what would that impact your contributions? Is there a minimum amount?

If your earnings are over £242 a week you will pay NI

OnTheBoardwalk · 30/01/2025 23:58

So I get if you getting benefits, child benefits etc you get credits

if you are working part time every week what would that impact your contributions? Is there a minimum amount?

StuffHappens · 30/01/2025 22:50

I just check mine
Says I need 1 more year, at limit in 2026......but I can't claim it until 2046, so you know, I could have a few years off but couldn't actually afford to not work🤦‍♀️
Worked since I was 16 either part or full time.

Iceboy80 · 30/01/2025 22:41

Isthisexpected · 29/01/2025 20:29

Can anyone explain the benefits of this is you still have many years to go?

If you still have many years to go and think you will work them then don't add to it as it wouldn't benefit you.

rainbowunicorn · 30/01/2025 22:29

catlover123456789 · 30/01/2025 20:30

I have one year where I have a gap, but it says I only need to work another 7 years in the next 24 years to get the full amount, so do I need to plug that gap?

No

Weedoormatnomore · 30/01/2025 21:23

hby9628 · 29/01/2025 20:57

I have 3 years more of contributions to get the max but I can't retire until 2047 🤣
At least I'm on track.

Mine is similar 2 years and 19 years to pay them.

Dogsbreath7 · 30/01/2025 21:01

Remember you should get credit for children / childcare years if you claimed child benefit. Ditto working /paying in another European country.

Isthisexpected · 30/01/2025 20:58

I don't see how it could be no, because surely you'll achieve that?

catlover123456789 · 30/01/2025 20:30

I have one year where I have a gap, but it says I only need to work another 7 years in the next 24 years to get the full amount, so do I need to plug that gap?

Panham · 30/01/2025 20:19

I'm 66 retire this year, I've transferred some of mine because I had too many to my husband , he did the school runs etc. Does it work the other way around? if you have a hubby could they transfer some of theirs if they have more than they need? worth a look I'm sure

IggyAndZiggy · 30/01/2025 20:15

When I checked mine it said I had paid 32 years but need 35. However, 2 of my 32 paid years do not count because they were pre 2016. So it says I need to pay an additional 5 years. But the system shows years I can top up, including some that are prior to 2016. But surely if I opted to top up one of these pre 2016 years (cheaper to top these up) it won't actually benefit me? Very confused? And if that's the case, surely that should be flagged up to prevent me falling into that trap?

rainbowunicorn · 30/01/2025 20:11

Morph22010 · 30/01/2025 19:40

Till the child is 12 only

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Yes, that's correct.

Morph22010 · 30/01/2025 19:40

rainbowunicorn · 30/01/2025 19:21

If you claim child benefit you will get your stamp. Even if your household income is above the threshold you can claim child benefit but not take the money.

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Till the child is 12 only

TrixieFatell · 30/01/2025 19:39

I need to contribute another 10 years but I'll be working for another 22. My gaps are too.long ago to be able.to.oay anything.

rainbowunicorn · 30/01/2025 19:22

grace2025 · 30/01/2025 18:35

I just checked mine OP with your link(thanks) and it's exactly the same as yours/ what does that mean is it the full pension?

If itvsay that you can't improve your forecast anymore then yes, you will get the full amount.

rainbowunicorn · 30/01/2025 19:21

grace2025 · 30/01/2025 18:31

Do they automatically pay for the child rearing years at home or do you have to contact them does anyone know?

If you claim child benefit you will get your stamp. Even if your household income is above the threshold you can claim child benefit but not take the money.

onedogatoddlerandababy · 30/01/2025 19:10

lindyloo57 · 30/01/2025 18:37

I'm 65 this year so I get my pension in January 2027 but I have to pay £8000 to get a full pension , I worked part time mostly, thats a lot of money most of my savings, I worry if its worth it

I’d work out what the difference would a between full pension, vs your current projection. Then see how many years of claiming would cover the £8k you’d need to pay in.
the pension will always increase (at least for the time being), and depending on your health, you could potentially claim a pension for a long time.

grace2025 · 30/01/2025 19:09

Yes still a few years to go but it is a good thing that they now include the time people may have spent at home.
Maybe seems a bit u fair in those part time workers also with children if those years listed as not full?

Copernicus321 · 30/01/2025 19:01

Isthisexpected · 29/01/2025 20:29

Can anyone explain the benefits of this is you still have many years to go?

If the number of remaining years of employment before you are of state pension retirement age added to the number of completed years of NI you have already paid according to your NI history is a total greater than 36 then there is no point in buying back any more years of NI. You won't get a larger state pension if you have more than 36 years of class 1 contribution, you will already be on a full state pension. If at some point in the future you are unemployed for a year that you were relying on to get you to the full 36 years, you can always buy that year back within the normal 6 year buyback period once you find yourself in full employment again (or you can buy the year back while you are unemployed if you are feeling flush).