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

[AlisonWhatIsTheMatter]

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. 😩

Yes I've checked hence knowing that HMRC haven't updated the records.

I know I know I put it in a private pension. Which was a defined benefit scheme which would have paid me £7,500 a year if I wasn't financially educated and moved to a personal pension. So not a great move doing that, as the defined scheme also deducts my state pension when I get it!!

But it's the fact that I will potentially work for 51 years and still not get a full pension that rankles.

You shouldn't have anything deducted from your state pension for having a defined benefit pension though? Unless I am misunderstanding what you mean. I am not sure what you mean about the defined benefit and private scheme. Did you originally contract out to a defined benefit and then transfer out to a defined contribution?
I would certainly chase up why your most recent 3 years haven't been reported. If you have wage slips, proof of benefits or self employed books it should be an easy fix.

Thank you so much for explaining, I really appreciate it ❤️

No it’s not unless you know you are definately not going to be working. Once you get to the 35 years you still carry on paying ni contributions if you are working it just has no effect on your pension so if you paid voluntary earlier on that was a waste of money.

I agree with @lulubakery,

I am almost at the paid in full, and that is some 8 years before I get my state pension, but the sheer joy of knowing all my stamps are pre paid and I can safely reduce hours or even take a very long summer break that is unpaid . It is a very important and stress reducing thing to do,

Can you imagine having to work that last year or two when totally worn out ?

I have 1 incomplete year, 2006 - paid 49/52 weeks. My retirement year is 2049, and it says I need to pay 6 more years to qualify for the full pension.
Is there any point in plugging my gap?
How do I work out how much it is to plug the gap?

I think it makes sense for people closing in on retirement I agree. But for 30 year olds now who might not even get a state pension? You say imagine having to work the last few years being knackered. But imagine paying a few thousand pounds and getting nothing back from it when they remove the state pension before you get there.

As it says on the gateway page. This is the amount you will receive “under current laws”. They could take it away in a heartbeat unfortunately. No one is guaranteed a state pension.

No, you only have to pay in for 6 years between now and 2049 it's unlikely that you won't manage it. If you work for 6 years out of the next 24 you will pay the NI to give you full years. If you pay the missing year now and work for more than 6 years out of the next 24 you will have paid more than you need. You still pay NI even after you reach your maximum forecast so it would make no sense to buy that year now unless you plan to only work 5 years out of the next 24.

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

Thank you 😊.

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?

Also don’t forget your death in service beneficiaries. Have you still get your exhusband on there if so he will get it and there’s nothing you can do. Check now that it will go to the right person.

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

Oh right that's interesting. You have to go into the NI record. In answer to my own question yes the years I was SAHM are listed as full. My years at uni are not full and there's a year of transition 1991 not full but 39 years are full so that's good if I've understood it correctly . Thanks OP

I believe so @grace2025. if it states you can’t improve your forecast anymore then you’ve done all we can, although it does sting a little, knowing that I will continue to pay the same contributions with no benefit to my pension as it’s full.

*you can

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).

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?

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.

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.

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

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.

Till the child is 12 only

Yes, that's correct.

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?