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

[lechatnoir]

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/

But you'd get it back and more with the pension (assuming you don't already have a full pension).
For a year where I worked half a year it only costs me around £50 to top up so I'm considering it.

I got the years aged 16-19 paid automatically while I was at school from what I can see.

I guess I might have misunderstood. They wanted £850 per year I hadn’t paid.

"They wanted £850 per year I hadn’t paid."

Yes, but you'd get more than that back was my point, unless I've miscalculated. I don't think I'll pay the missing years either, but maybe the year where only a small amount is missing because I worked in the UK for some of that year.

I get you 👌

@lechatnoir merci, merci! Although my plan is to retire before my state pension, this has made me properly check. I’ll be at the max in 3 years.

Also you may have years where you have paid NI but not enough to make a 'full' year. These part years are not counted towards your pension. One 'part' year cost me £12.80 to convert to a full year, another cost £6. The result of being limited hours in a low paid job. Making both years 'paid up' will add £10 per week to my eventual pension for the rest of my life.

Good luck to anyone trying to call HMRC about this, I tried 18 times last week and everytime just got cut off.

I phoned the number quoted up thread - I was on hold for just over an hour, but I got my 18 digit number. I phoned late afternoon. Someone else called at 8 am and got straight through. Good luck.

Thank you OP - I was confused completely unaware!

I tried and tried this morning and kept getting cut off, so I will set my alarm for 9.00 tomorrow morning.

I have had load of credit card activity lately tidying up my late Mums estate and paying bills so I rang the bank to ask for an increase to pay the last four years required to get me to full pension, but because I am retired the computer says no.🙄

The fact that I have a six figure sum due to me in the next few weeks cut no mustard, nor the fact that the joint account transfers me between £1,000 and £1,500 a month.

Most annoying, work hard retire and you disappear from an eligibility point of view.

Anyway here ended the rant.

State pensions are going to be worth nothing in 7 years anyway when the big financial collapse comes that year. Don’t have a go at me just make a note of this as it’s true. We all have to find a way of securing our funds in that time. We have to own our homes but then too or lose them.

@LittleTiger007 What do you mean? No more mortgage on it? Lose our homes and live where? Is this just U.K.

Does anyone know what age children need to be before NI exemption stops? I have two years contributions yet to make but I'm now retired. Obviously I will pay those two years in if not covered, but I think I would need to do that before April so it would be good to know!

Well that was a variation on a theme,🙄 I got as far as being told my call could be recorded before they cut me off

I am now off to seek and audience with the Pope, suspect I might have more luck.

@AlwaysLatte I think it is sixteen, don’t take my word for it.

Mine says I have 21 years of full contributions
I'm 37 so that's ok!

Managed to get codes after an hour and half of holding for the two years I want to pay , I’m fairly sure it’s the right thing to do , but when they gave me the codes they said I need to check with future pensions before paying and you can’t even get in a queue to speak to them , just an engaged tone after 3 mins of pressing buttons 😒 I’m 99% sure I’m doing the right thing , but was contracted out so want to double check really as it will be close to £1300

I was contracted out but my prediction is still saying I only have 6 years left to get a full pension. I'm in my forties

I'm another who appear to not need the full 35 years.

I posted this on another thread.

I'm 55 this year and my account tells me I have 25 full years and it also tells me I need to contribute another 6 years ( which I will do, plan to retire at 62 or 63 ) to get the max £185.15 / week.

I really don't want to find out too late that this info is incorrect.

@LizzieMacQueen
the web site updates each year in August, so make a diary note and just check every year.
that is what I do, and am well peed off and jealous, as I need 40 years !

Thanks

When I logon, I can't see where it says how many years left to contribute. It says:

25 years contribution
7 years with not enough
19 years left until 2041 (my retirement date)

What am I missing?

And thanks to this thread, I now know that the child benefit contributions stop when the kid is 12!

Thanks @isthewashingdryyet I'll do that. I don't think I've the patience to call the help line.

We logged on yesterday as although I had a good career I became chronically ill in my 30’s and was retired. At that point the system was very judgmental of M.E and I was left without any benefits as I had just married even though I’d paid into the system for a long time

Im 53 nearly 54 so originally needed 32 years but am now due to the new retirement age needing 35 years

on the system I have 33 years currently, one almost complete year that needs a £68 payment to complete bringing me to 34 and a projected pension £10 less than the full £185 and Pennies

Because I’m retired and invisible in society ( no job no benefits no income) my DH will set up a monthly direct debit for a third class stamp for a year to bring me up to the full 35 years.

I’m lucky that DH interfaces with this website and group for a living because it wasn’t easy to access the data and understand what to do, I’m glad Martin Lewis highlighted the issue and made us look