Home Responsibilities Protection - what does it count for?

[Skyler]

I am a SAHM to two dd's age 3.5 and 17 mths. I thought that getting Child Benefit in my name meant that my state pension was protected as it meant I was registered for HRP. I have had a letter from HM Revenue and Customs stating that despite HRP I have not been credited with enough NI contributions to make 2004-2005 count towards my state pension. This will mean the same for 2005-2006 too as I am still not working so what does the HRP count for. I am not panicking as they want ?371.80 but I have till 2011 to pay this, but on the other hand I will owe for more years as I hope not to go back to work until my dd's are both at school. Does anyone understand this or can you offer me some advice?? TIA.

Skyler - no of qualifying yrs varies depending on how old you are, as pension age has been raised for women

Yes pension gae 65 for men and women but depends on your age and plans announced last week to raise it to 68 too so you do need to check your own age now and the date you can draw a pension. You can defer it. My father worked to 77 and deferred his state pension to age 75. That way you can build it up even more.

I don't have much faith in state pension however - I don't think it will be worth a lot when the time comes

I know. My father put most of his spare money into pensions, worked to 77 and will probably die in a year or two. Not the best investment you can make. My ex father in law is still working aged over 80. And the Government keeps changing the pension rules. I like the latest plan - you can be forced to retire against your will at 65 but you won't be able to draw the state pension until 68 in due course.