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Sorry if this induces a coma, but I have a question that maybe the hive mind can answer ...
when i get to retirement age I will not have the full 35 years of NI contributions. Apparently I can "buy" missing years, and from the simple calculation I made it seems a bit of a no-brainer.
But
can I just buy random years and increase my pension, or is it only specific years iIcan buy, based on some criteria or other?
Any ideas, or wisdom - other than "get a life"?
You have to ask for an NI statement, that will tell you specifically how much you have paid in, and then you can ask them how to top up, it isn't about specific years, you just need to top up to the 35 (although you may want to keep an eye out for that requirement rising in the future).
https://www.gov.uk/voluntary-national-insurance-contributions/deadlines
can I just buy random years and increase my pension, or is it only specific years iIcan buy, based on some criteria or other?
You only buy ones which haven't sold out yet e.g. 1986 was very popular and has been unavailable for 15 years now.
😉
I was hoping to get some 50's to go with Brexit
I've got 30 years of full contributions and 14 years to contribute before 2032 (my retirement date?) but i have two missing years (2012-2014). is there any point me making a voluntary contribution to fill those tow years? Its be about £1200.
Thought you had a maximum of two years after which you couldn't pay retrospectively..or am I wrong? May be I am.
I also have a few gaps. Just checked on the HMRC.
Would of topped up there and then...but no facility available.
Does one have to ring HMRC to top up. Or do something else to trigger an option to pay.
RT
Not a boring subject BTW 🙂
What about SIPPS ?
I will vote against any party raising state pension ages and NI requirements, even if it's a populist. I'll vote for a turnip with glass eyes and straw hair. I'm sick of these ****s quietly ****ing us over while they and their mates live the life of Riley completely unaffected.
I’ve got 30 years of full contributions and 14 years to contribute before 2032 (my retirement date?) but i have two missing years (2012-2014). is there any point me making a voluntary contribution to fill those tow years?
As I recall you can have a few gaps like I have for my Phd etc and it doesnt matter as long as i dont miss any more.
I’ve got 30 years of full contributions and 14 years to contribute before 2032 (my retirement date?) but i have two missing years (2012-2014). is there any point me making a voluntary contribution to fill those tow years?
No point at all You don't get any extra for paying more than 35 years and you should easily make that if you're in work for the next 14 years and already have 30 paid up.
Thought you had a maximum of two years after which you couldn’t pay retrospectively..or am I wrong? May be I am.
You can pay voluntary Class 3 contributions in the tax year they are due or up to six years after that.
Paul Lewis covered this in his blog.
I have about 43 years of contributions and still wont receive full pension. Its about £15 per month short and the option of topup doesn't seem to exist on the government web page.
I blame Maggie.
Isn’t there an issue with the new higher rate of pension?