Think you might be getting a UK State Pension ?

[Moderator]

I think you underestimate the love this nation has for its armed forces, I agree there are those that don’t care much for it, wonder what it actually does. But you ask the people of Liverpool if they valued the Army after the mass testing during this pandemic and I’m certain there would be great fondness and support for our Armed Forces.

The reality is of course is that while the Armed Forces, NHS or whoever are at the top of news for doing good things, the public love ‘em.

Before the pandemic for instance, nobody was banging on about standing on door steps for the NHS. The staff were doing the job they are paid to do, I can’t get an appointment for 500 years blah blah.

The same with the Armed Forces... In quiet times - no significant operations, no Covid testing etc... the public forget. A drain on the taxpayer etc. If Service pensions are cut nobody but servicemen and women will care unless it happens during a 'war' when everybody will care.

The love the nation has for anything depends on what is going on and what the media tells it and I blame the Spencer woman for the the great shows of transient 'love' the nation shows for anything.

 

[philc]

How do people who haven't paid the full amount of stamps get on ? do they get a full pension or is it a nil pension but made up by benefits? I know that when i was self employed I had to make sure that my stamps were all paid somehow i missed about £80 pounds worth so i had to pay up pronto .

I ask because I had a couple of friends who were "self employed" who didn't pay tax or NI over the years, one was a taxi driver who after having had a stroke cant work and gets absolutely nothing from the govt. which seems fair enough to me. That being the case will he get a pension or benefits when he retires in 18 years or so .

My deceased dad hardly ever paid tax under his own name, I recall he was called up by the tax office a few times and all he used to say was " I been in Eire for two years looking after my poor old mum" .
Does that excuse still work? this was in the days of NI cards together with Holiday stamps .

My understanding is that you need 35 years to get full State Pension, then it’s a percentage according to how many NI years you have contributed. You can top up to 35 years if you have missed years up until a few years before you retire. I am in the process of doing this due to missing a few years living abroad.

I know of blokes who have never paid in and will work till they are dead, my Dad was not a regular Tax payer but did pile in money towards the end of his working life to get his pension.

I think the State only contributes if your signing on.

Stand to be corrected on this though.

 

[exbluejob]

My understanding is that you need 35 years to get full State Pension, then it’s a percentage according to how many NI years you have contributed. You can top up to 35 years if you have missed years up until a few years before you retire. I am in the process of doing this due to missing a few years living abroad.

Doing the same, considerably cheaper paying for those years than 'normal' years. My goodness its tediously slow, eventually got the necessary code to pay for both, one for 'normal' years and a different code and different account for overseas years. Money was transferred a couple of months ago and the overseas contributions still not showing up, sigh!

Edited to add: Did the maths, I'm short £40 a month unless I make up the shortfall. If I live 4 years past 65 that £40 a month is gravy on top

 

[ericferret]

Did the same for daughter when at university as time there does not count.

 

[harrythebastard]

I actually worked and paid NI/tax in the UK for 41 years, and yes it is true that you only need 35 contributing years.
But.
Like a lot of us on here though, our NI contributions were what they called 'contracted out' to our occupational pension scheme and that a certain proportion went there instead.
You can get your state pension forecast on your HMRC tax account if you log in there.
I looked at topping mine and wifes up to get the max. state pension, and the amount of dosh they wanted* to do so would have involved me living to 80 and her to 78 to break even with the difference in the two.
All for an extra £20 a week.
My 41 actual years of paying NI contributions still do not bring me up to the max state pension for which you only need 35 years to count.
I fully expect the goalposts to be moved again before I get anywhere near state pension age.

*(And so we bought a new car instead!)

 

[mechanicalhorsetrough]

My understanding is that you need 35 years to get full State Pension, then it’s a percentage according to how many NI years you have contributed. You can top up to 35 years if you have missed years up until a few years before you retire. I am in the process of doing this due to missing a few years living abroad.

I know of blokes who have never paid in and will work till they are dead, my Dad was not a regular Tax payer but did pile in money towards the end of his working life to get his pension.

I think the State only contributes if your signing on.

Stand to be corrected on this though.

38 years and counting (for at least another 8 years anyway!)

 

[undervalued]

People who don't have enough qualifying years will get a reduced state pension.
My wife wondered if she'd miss out on the full state pension because of being with me in Germany.
She successfully applied online to get those years back.

 

[ugly]

People who don't have enough qualifying years will get a reduced state pension.
My wife wondered if she'd miss out on the full state pension because of being with me in Germany.
She successfully applied online to get those years back.

However they won’t lose out as they will get enough “income” from the taxpayers to keep them on par

 

[Bravo_Bravo]

These links might help...

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www.royallondon.com

Can I top up my state pension?

You can still top up your state pension to bolster your retirement income. Which? outlines the pros and cons of buying voluntary National Insurance contributions.

www.which.co.uk

 

[undervalued]

However they won’t lose out as they will get enough “income” from the taxpayers to keep them on par

Yes, wouldn't it be awful if someone who couldn't be arrsed missed out

 

[sirbhp]

I worked for a company for 4 years and paid Additional Voluntary Contributions to their pension, it realy paid off the enhanced wee pension is the difference between life on the breadline and my being able to have a few pence over each month.

 

[ericferret]

Conversely people who defer the state pension get an uplift. As I continued to work she didn't need it.
I will get a full state pension next year about £9000 her pension is about £12000.
I carry on working she gets a bigger pension.

Oh the irony!!!!!

 

[rgjbloke]

I paid in thirty years NI and received a letter saying I’d paid in enough for my pension and didn’t need to pay any more in. This was some years ago now.

I’m now semi retired and will reach 66 years of age next year. I know I will receive something because I paid in those thirty years but I’m now aware that the qualifying period has gone up to thirty five years.

I’m actually ok moneywise because I left my last employment twenty years ago through ill health retirement and I’ve been in receipt of my occupational pension for that period of time. It’s a reasonable sum each month. I’m not getting rich out of it but it does keep me in the lifestyle I’m accustomed to.

I know I’ll get something next year when my state pension becomes payable but I’m assuming it won’t be the entire amount, because as I said, despite the letter I received after thirty years saying I’d paid enough in, the goalposts were moved upwards to thirty five years.

Out of curiosity, is there a calculation that anybody is aware of that I can use to get an idea of what I’ll get?

 

[exbluejob]

Out of curiosity, is there a calculation that anybody is aware of that I can use to get an idea of what I’ll get?

Check your State Pension forecast

Find out how much State Pension you could get (your forecast), when you could get it and how you could increase it

www.gov.uk

Be careful and don't let the top line fool you, that's what you COULD get, look further down for the forecast.

 

[ericferret]

I paid in thirty years NI and received a letter saying I’d paid in enough for my pension and didn’t need to pay any more in. This was some years ago now.

I’m now semi retired and will reach 66 years of age next year. I know I will receive something because I paid in those thirty years but I’m now aware that the qualifying period has gone up to thirty five years.

I’m actually ok moneywise because I left my last employment twenty years ago through ill health retirement and I’ve been in receipt of my occupational pension for that period of time. It’s a reasonable sum each month. I’m not getting rich out of it but it does keep me in the lifestyle I’m accustomed to.

I know I’ll get something next year when my state pension becomes payable but I’m assuming it won’t be the entire amount, because as I said, despite the letter I received after thirty years saying I’d paid enough in, the goalposts were moved upwards to thirty five years.

Out of curiosity, is there a calculation that anybody is aware of that I can use to get an idea of what I’ll get?

If you were retired due ill health and on benefits it might be that the state topped up your pension contributions.
A forecast will tell you. If it's just 5 years you could pay a lump sum in, may or may not be worth it. Depends on how long you intend to live!!!!! One of those few occasions when being Roy Batty would actually be a benefit.

 

[old_n_fat]

I paid in thirty years NI and received a letter saying I’d paid in enough for my pension and didn’t need to pay any more in. This was some years ago now.

I’m now semi retired and will reach 66 years of age next year. I know I will receive something because I paid in those thirty years but I’m now aware that the qualifying period has gone up to thirty five years.

I’m actually ok moneywise because I left my last employment twenty years ago through ill health retirement and I’ve been in receipt of my occupational pension for that period of time. It’s a reasonable sum each month. I’m not getting rich out of it but it does keep me in the lifestyle I’m accustomed to.

I know I’ll get something next year when my state pension becomes payable but I’m assuming it won’t be the entire amount, because as I said, despite the letter I received after thirty years saying I’d paid enough in, the goalposts were moved upwards to thirty five years.

Out of curiosity, is there a calculation that anybody is aware of that I can use to get an idea of what I’ll get?

How did you manage to opt out of paying NI? Unless you have a dodge you're paying until retirement age
Here's my projection (date edited to protect DOB.)

£175.20 is the most you can get​

You cannot improve your forecast any further, unless you choose to put off claiming.

If you’re working you may still need to pay National Insurance contributions until 2026 as they fund other state benefits and the NHS.

 

[rgjbloke]

If you were retired due ill health and on benefits it might be that the state topped up your pension contributions.
A forecast will tell you. If it's just 5 years you could pay a lump sum in, may or may not be worth it. Depends on how long you intend to live!!!!! One of those few occasions when being Roy Batty would actually be a benefit.

I’m not on benefits other than pip because of my disability caused by arthritis.

So I don’t receive anything that pays in NI contributions in lieu of being employed. My pension is a significant enough sum to take me out of all that stuff.

I pay income tax on my pension but not NI.

 

[exbluejob]

How did you manage to opt out of paying NI? Unless you have a dodge you're paying until retirement age

Self employed (consultant) with no wage, I only take the dividend from my company.

 

[old_n_fat]

I’m not on benefits other than pip because of my disability caused by arthritis.

So I don’t receive anything that pays in NI contributions in lieu of being employed. My pension is a significant sum and takes me out of all that stuff.

I pay income tax on my pension but not NI.

Seen, don't bother with my original reply

 

[old_n_fat]

Self employed (consultant) with no wage, I only take the dividend from my company.

Which presumably means you'll be on minimum state pension?