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Original poster

Urgent warning to anyone those age 45 + re: National Insurance & state pension

246 replies

lechatnoir · 23/02/2023 12:45

Apologies if this has already been posted but the deadline to plug any NI contribution gaps is closing on 5th April and gaps in contributions could have a significant impact on your state pension so well worth looking at.
It may require you to pay for top-up (apparently not always but not applicable to me) but I was shocked to find I had gaps of a few years even though was employed & paying tax & NI!

Details & instructions on here: www.moneysavingexpert.com/savings/voluntary-national-insurance-contributions/

OP posts:
Thread gallery
7
Nimbostratus100 · 23/02/2023 12:46

thank you for this information, I was totally unaware

RingofBrodgar · 23/02/2023 12:55

Thanks!

Welfast · 23/02/2023 12:58

So important. Sorted ours late last year, I didn't realise I had gaps too

Interested in this thread?

Then you might like threads about these subjects:

General money Retirement & pensions
EasterlyDirection · 23/02/2023 13:13

Yes, do check, mine is OK despite having a year out of work because it straddled two tax years but it is easy to see how gaps can happen, especially to women.

BeautifulDayintheneighbourhood · 23/02/2023 13:14

I have just made up my gaps but have had absolutely no acknowledgement which worries me.

rockingbird · 23/02/2023 13:17

Hmm I'll need to look at this as had a career break from 2012 to 2018

Puravida23 · 23/02/2023 13:19

Does it matter though? I have gaps in mine I could pay up but I am sitting on 31 years with another 12 years of working potentially. Once you get to 35 years that’s it isn’t it . Or am I missing something.
Are people paying up only because they don’t think they will get to 35 years?

EasterlyDirection · 23/02/2023 13:24

It does depend a bit how old you are and how many years work you have left, yes, but as I understand it you can plug partial year gaps quite easily and cheaply which might give you more options WRT early retirement or going self employed or similar.

MatildaJayne · 23/02/2023 13:26

My only gaps were when I was university. Claiming child benefit for an under 12 (I think) gives you NI credits. Another reason to claim even if over the threshold. I am late 50s and have 38 years of credits, with another 10 years or so of work to go. Currently 35 is the max. Can’t think of many who’d not reach 35 years? 🤷🏼‍♀️

maddiemookins16mum · 23/02/2023 13:28

Depends on your age surely? I have 3 years missing (from over 30 years ago!!) when I skedaddled overseas for various jobs in the travel industry. I’ll have made up the shortfall in another two years.

Silvergone · 23/02/2023 13:30

Puravida23 · 23/02/2023 13:19

Does it matter though? I have gaps in mine I could pay up but I am sitting on 31 years with another 12 years of working potentially. Once you get to 35 years that’s it isn’t it . Or am I missing something.
Are people paying up only because they don’t think they will get to 35 years?

Yes I think so.

Plus if (like me) you had kids when the government suddenly changed the rules on child benefit so lots of people were no longer entitled to it, but didn’t tell new mothers that they still needed to apply for child benefit even though they wouldn’t get it, in order to protect their NI contributions…

I’m missing a few years of contributions because no one told me I ought to apply for a benefit I’m not entitled to

I hate the government, such non-stop. idiots

Silvergone · 23/02/2023 13:32

MatildaJayne · 23/02/2023 13:26

My only gaps were when I was university. Claiming child benefit for an under 12 (I think) gives you NI credits. Another reason to claim even if over the threshold. I am late 50s and have 38 years of credits, with another 10 years or so of work to go. Currently 35 is the max. Can’t think of many who’d not reach 35 years? 🤷🏼‍♀️

SAHMs who aren’t entitled to child benefit and who didn’t know they should still apply for child benefit or the government would take away their pension rights 🤬

4plusthehound · 23/02/2023 13:34

OP - THANK YOU.

It is great to have things like this to help/remaind/warn those of us who are not great at this kind of thing. It is very generous of you!

maranella · 23/02/2023 13:36

Puravida23 · 23/02/2023 13:19

Does it matter though? I have gaps in mine I could pay up but I am sitting on 31 years with another 12 years of working potentially. Once you get to 35 years that’s it isn’t it . Or am I missing something.
Are people paying up only because they don’t think they will get to 35 years?

That's right @Puravida23. You can actually take quite a few years out of paying into your pension and still reach the magic 35 years of contributions before you reach pension age. For example, I have another 18 years to go until I get my pension, I've missed out on 10 years of contributions, but I only need to pay in another 11 and I'll get the full pension amount, so there is no need for me to pay the £824.20 for any missed years. In my case, and in yours, it would just be money down the drain.

So anyone reading this thread and finding missing years, do pay attention to the first page of your pension forecast - that green box tells you whether you're on track to get the full amount or not - and you DON'T have to have paid in every year to still qualify for the full amount.

Remember you have from roughly age 18-67 to pay in 35 years' worth of contributions (that's 49 working years), so we can all afford to miss a few years in there.

Aphrathestorm · 23/02/2023 13:55

Yes but do we really all expect to be working full time until our state pension date?

EatGrapes · 23/02/2023 13:56

Worth noting this is for missing national insurance years from 2006 to 2016, I have missing years, but prior to 2006, so too late to do anything about those. Thankfully I'm on track to get the full amount anyway.

DancingDaughter50 · 23/02/2023 14:01

I've tried to get my head around this.

I brought up my pension profile and it seemed to say I had 9 years left to pay. Fine. I'm late 40s so time to still work... However it still seems to say 9 years of outstanding but I've been working after sahm for 5 years?

Is this what people are talking about.

hoochyhag · 23/02/2023 14:02

Also to note, similar applies to carers allowance, even if you would be earning too much to qualify, applying for it means that you get NI credits.

www.gov.uk/carers-credit

DancingDaughter50 · 23/02/2023 14:02

Can anyone tell me how I pin this down please

megletthesecond · 23/02/2023 14:06

I must do this. I don't think I earn enough to pay NI but my dcs are over 12 so I don't get the child benefit credit any more.

WinterMusings · 23/02/2023 14:06

@lechatnoir

i didn't know that, so thank you!

I had looked at mine a few years ago & it's on the to do list to check again, but I'll bump it much higher up now I know there's a deadline.

mines a bit complicated because mine relies on a reciprocal agreement with another country, so I'd like as many U.K. years as possible too, just in case that turns to slime!
I t don't think I have any years I can top up, but thank you for the reminder!! X

Athlebad · 23/02/2023 14:07

Silvergone · 23/02/2023 13:32

SAHMs who aren’t entitled to child benefit and who didn’t know they should still apply for child benefit or the government would take away their pension rights 🤬

Show quote history

I had no idea this had happened - that's so unfair on those stay at home parents that lost the NI credits. When did the rules change? I don't think it was like that when I first applied for child benefit...

SimplySeb · 23/02/2023 14:10

I've got a few gaps, the longest is 3 years. But it says it wants £827 per eyar to fill.
Do you need 35 continuous years, or just 35 years in total, cos I have 33 years total at the moment and I'm only 53.

SimplySeb · 23/02/2023 14:11

Also, I take it theres no way of finding out what contrcating out did to my pension. I was talked into contracting out when I was like 18 or 20, and so I understand there's a big hole that is going to come from that. Anyone know a lot about state pensions here?

isthewashingdryyet · 23/02/2023 14:16

35 years is the max if you very young and started work in 2016 or later. If you are older you may need more years. Just check it on the .gov.U.K. Site.
Read the information carefully as it is a bit misleading, telling you what you can get if all the years are contributing years, and then underneath, what you will get now

I need 39 years and my dp needed 40 years.
I don’t understand this but it is what it is.