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Where Taxpayers and Advisers Meet

NI contribuutions and state pension

lucky62
Posts: 12
Joined: Sun Oct 29, 2017 1:44 pm

NI contribuutions and state pension

Postby lucky62 » Mon Nov 05, 2018 8:46 pm

hi

Please can someone help. Ive just checked my NI record contributions online and have the 35 full years. I thought this was enough to claim the full the state pension? However, it gives my forecast as £158 per week and advises me I need to contribute another 2 years to claim the max state pension of £164 per week ??
I don't understand this as I already have the qualifying years for full state pension.

TIA

D&C
Posts: 23
Joined: Thu Dec 22, 2016 10:04 pm

Re: NI contribuutions and state pension

Postby D&C » Mon Nov 05, 2018 10:26 pm

I fear you have totally understood the new State Pension rules.

The 35 years only applies to those starting out on their journey to a State Pension after 5 April 2016.

You are clearly not in that position so the 35 years rule doesn't apply.

Some people will get the max (or possibly more) without having 35 years. Others will need to contribute for possibly 40+ years to get there.

There is some very useful information on the Royal London website including great guides, particularly around the basic rules and topping up with additional contributions.

https://www.royallondon.com/Global/documents/GoodWithYourMoney/Good%20With%20Your%20Money%20Guide%208%20-%20New%20State%20Pension%20V3.pdf/

D&C
Posts: 23
Joined: Thu Dec 22, 2016 10:04 pm

Re: NI contribuutions and state pension

Postby D&C » Mon Nov 05, 2018 10:28 pm

That should be totally misunderstood ;)

lucky62
Posts: 12
Joined: Sun Oct 29, 2017 1:44 pm

Re: NI contribuutions and state pension

Postby lucky62 » Mon Nov 05, 2018 10:31 pm

Thanks for explaining that to me.... and for the link. I'll make myself familiar with the rules :-)

lucky62
Posts: 12
Joined: Sun Oct 29, 2017 1:44 pm

Re: NI contribuutions and state pension

Postby lucky62 » Mon Nov 05, 2018 10:33 pm

That should be totally misunderstood ;)
yes I guessed that's what you meant :-) :D


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