state pension

[poc]

any know how many years ni contributions you need to get the full amount

[jon1959]

any know how many years ni contributions you need to get the full amount

30 qualifying years - which might include some years of other than work:

working and paying National Insurance
getting National Insurance Credits, for example for unemployment, sickness or as a parent or carer
paying voluntary National Insurance contributions

https://www.gov.uk/state-pension/eli...t%20or%20carer

[Allez Allez Allez]

any know how many years ni contributions you need to get the full amount

35 years

[poc]

30 qualifying years - which might include some years of other than work:

working and paying National Insurance
getting National Insurance Credits, for example for unemployment, sickness or as a parent or carer
paying voluntary National Insurance contributions

https://www.gov.uk/state-pension/eli...t%20or%20carer

thanks

[poc]

35 years

thanks

[ninian opinian]

any know how many years ni contributions you need to get the full amount

You think you’re going to get State Pension. This far right cabal will make sure you don’t.

[The Bloop]

It changed from 30 to 35 years in 2010

[poc]

It changed from 30 to 35 years in 2010

[Malckent]

It changed from 30 to 35 years in 2010

My wife was expecting her pension at 60 then she found out, through word of mouth, nothing in writing that she wouldn't get it until she was 65!! Then they had the audacity to raise it up further to 66. Still no official notification i might add. 40 grand down the drain.

[poc]

You think you’re going to get State Pension. This far right cabal will make sure you don’t.

sorry matey no idea dont do politics

[jon1959]

It changed from 30 to 35 years in 2010

Yes - my mistake. The 'New State Pension' (although wasn't the change date 2016)?

You’ll usually need at least 10 qualifying years on your National Insurance record to get any State Pension.

You’ll need 35 qualifying years to get the full new State Pension.

You’ll get a proportion of the new State Pension if you have between 10 and 35 qualifying years.

https://www.gov.uk/new-state-pension/how-its-calculated

[poc]

Yes - my mistake. The 'New State Pension' (although wasn't the change date 2016)?

You’ll usually need at least 10 qualifying years on your National Insurance record to get any State Pension.

You’ll need 35 qualifying years to get the full new State Pension.

You’ll get a proportion of the new State Pension if you have between 10 and 35 qualifying years.

https://www.gov.uk/new-state-pension/how-its-calculated

cheers matey

[surge]

If you don't qualify for state pension or have a pension of less than £80 per week then at 80 you can qualify for Over 80's pension: https://www.gov.uk/over-80-pension/eligibility

[Its been emotional]

My wife was expecting her pension at 60 then she found out, through word of mouth, nothing in writing that she wouldn't get it until she was 65!! Then they had the audacity to raise it up further to 66. Still no official notification i might add. 40 grand down the drain.

But as the Tories love quoting 'we are all in this together'

[Malckent]

But as the Tories love quoting 'we are all in this together'

😂😂😂😂😂😂

[Fine Lines]

Yes - my mistake. The 'New State Pension' (although wasn't the change date 2016)?

You’ll usually need at least 10 qualifying years on your National Insurance record to get any State Pension.

You’ll need 35 qualifying years to get the full new State Pension.

You’ll get a proportion of the new State Pension if you have between 10 and 35 qualifying years.

https://www.gov.uk/new-state-pension/how-its-calculated

Checked my forecast on the Gov website. It says I have 25 years of contributions, and I need to make another 6 years worth over the next 27 years to get the full amount ? So that makes 31 years. Confused as hell.

[xsnaggle]

I think if you are short of contributions to get all your pension then you can make a lump sum contribution to "catch up" so you get the full amount when it is time

[jon1959]

Checked my forecast on the Gov website. It says I have 25 years of contributions, and I need to make another 6 years worth over the next 27 years to get the full amount ? So that makes 31 years. Confused as hell.

It confuses me too. I thought I understood all the numbers when I took early retirement at 55 in 2014 - was fully covered and expected the full state pension when I get to 66. My assessment letter said I was fully covered. But when I have rechecked on the gov.uk site in the last 2 years (after the state pension change) it seems that I will get the full New State Pension but will fall short on the new higher rate unless I make additional contributions.

That 'new' higher rate is a bit of a mystery to me. The gov.uk site is usually very clear but there was some contradiction and/or missing information when I looked and I haven't followed it up yet. If someone else can explain it I will be very grateful. It will probably turn out to be Tier 1, 2 and 3 pensions.... with a U Turn thrown in!

[poc]

It confuses me too. I thought I understood all the numbers when I took early retirement at 55 in 2014 - was fully covered and expected the full state pension when I get to 66. My assessment letter said I was fully covered. But when I have rechecked on the gov.uk site in the last 2 years (after the state pension change) it seems that I will get the full New State Pension but will fall short on the new higher rate unless I make additional contributions.

That 'new' higher rate is a bit of a mystery to me. The gov.uk site is usually very clear but there was some contradiction and/or missing information when I looked and I haven't followed it up yet. If someone else can explain it I will be very grateful. It will probably turn out to be Tier 1, 2 and 3 pensions.... with a U Turn thrown in!

thanks for the infochecked mine it says i got 40 full years but then it says i have a part missing yearsame as jon59 any advice would help thanks

[The Bloop]

I think if you are short of contributions to get all your pension then you can make a lump sum contribution to "catch up" so you get the full amount when it is time

You can only make up for missing contributions within 6 years of the relevant missing year.

[Rock_Flock_of_Five]

thanks for the infochecked mine it says i got 40 full years but then it says i have a part missing yearsame as jon59 any advice would help thanks

If you have 40 full-years (you need 35), then there's really no need for you to make up that missing year, you'd have nothing to gain and only about 790 GBP to lose by doing so.

I have 4 years to make up in order for me to qualify for full-state pension . I paid a missing year up about two months ago.

[IanD]

Another complication. If you are in a final salary scheme (eg teachers, police) you will have paid a reduced level of National Insurance contributions. Even if you pay (or qualify for) NI for 35 years you wont get a full state pension unless you wish to top up with additional voluntary NICs. In my case I need about 39 years to get near a full state pension. The 40th year is probably not a good investment in terms of paying a voluntary NIC as I will have overpaid and not get the money back through the pension for many years.

[poc]

If you have 40 full-years (you need 35), then there's really no need for you to make up that missing year, you'd have nothing to gain and only about 790 GBP to lose by doing so.

I have 4 years to make up in order for me to qualify for full-state pension . I paid a missing year up about two months ago.

cheers was wondering if it needed to be paid up the figure it mentions is approx 700 gbp

[Hot Shot Hamish.]

cheers was wondering if it needed to be paid up the figure it mentions is approx 700 gbp

If you need an extra year or two, I'm sure it's possible to find a way of earning a £1000 a year as self employed. Currently you don't pay tax on the first 1000 quid of self employed earnings. Normally you have expenses in excess of that, but you can just tick a box to say £1000 deduction needed. That means there's no profit and then you can pay the £159 class 2 voluntary contribution which will cover another year. It's cheaper than forking out the£700 odd voluntary contribution even if it is a little contrived.

[jon1959]

Another complication. If you are in a final salary scheme (eg teachers, police) you will have paid a reduced level of National Insurance contributions. Even if you pay (or qualify for) NI for 35 years you wont get a full state pension unless you wish to top up with additional voluntary NICs. In my case I need about 39 years to get near a full state pension. The 40th year is probably not a good investment in terms of paying a voluntary NIC as I will have overpaid and not get the money back through the pension for many years.

Thanks for that. I was on a final salary scheme and I think that was the reason behind the latest pension estimate being below the 'new' maximum - although I qualify for the new full basic. It wasn't as clear on the gov.uk site as it could have been - but what I took from it was that I had already got the benefit of the slightly higher rate in my occupational pension - and it didn't look worthwhile to top up my contributions in a few short years to qualify for the new higher rate. I'm sure it was simpler before the latest changes.