State pension

[steppingcarefully]

No idea where to post this, is there a pensions chat anywhere on the site? Is there anyone that can explain this to me please as I am confused. When I look at my forecasted state pension it tells me I will be entitled to the maximum amount and shows I have 41 years of contributions. I am filling in my self assessment tax return and have registered myself for voluntary Class 2 National Insurance. Do I need to pay this though? Is the forecasted amount based on me continuing to pay for the next 8 years until retirement age or does it mean I already have enough so no longer need to pay? It's not very clear and I don't want to be paying a voluntary amount if I don't need to.

You can call the pension line and get immediate advice on this. I’ll try to find the number.

https://www.gov.uk/contact-pension-service

Thank you, that's really helpful.

If you look at your state pension summary online, it looks like the photo attached.

If your top bar is full, and tells you that you'll get the full amount as at 5 April 2023, then you've a full NI record for pension purposes.

So as long as I pay for another 3 years (as I have a full year not yet accounted for up to 5 April 2024), I'll get the full pension (assuming the number of years I have to contribute doesn't increase before then).

Thank you. Mine looks different to this but I have just noticed it states forecast is based on my National Insurance record up to April 2023 in small print underneath. However it then goes on to say if you are still working you may still need to pay NI contributions as they fund other state benefits and the NHS. I will phone the number given to check next week.

I think that means you can't stop
paying any compulsory NI (whether PAYE or SE) if you've enough contributions for a state pension, not that you need to pay optional ones.

I mean, that would be lovely if I could stop paying it in 3 years, but no go! 🤣

But mine is voluntary? That’s why I’m confused. I am employed as well as having a self employed business so I pay class 4 NI through my employed job as well.

If you already pay ni through your employer then you don't need to pay the class 2 voluntary for self employed. That's more if you are fully self employed.

Great, thank you. I’m not going to pay the voluntary amount then. I wish it was a bit clearer (or maybe it’s just me?!)