State pension - filling gaps in National Insurance contributions

Vinno

Vinno

Vinno

Associate
Joined
11 May 2010
Posts
1,463
Hey hey,

With all of the doom and gloom regarding the economy going on at the moment I took a moment to check my national insurance history on the HMRC website and found that I am currently sitting on 9 years of full contributions at the age of 34.

I have a few missed years due to redundancies and also during uni when I worked part time and evidently didn't make enough to contribute a full years worth of NI.

For a few of the gap-years in question I would only need to make a small voluntary contribution to fill the gap. I understand that I have many years left to fill the remaining 26 years but for the sake of £300 for 3 years, it's worth it right? For my own peace of mind I think so at least.

Now I am looking at the form which they provide to set up payment and I haven't got a clue how to fill this thing in. Has anyone here possibly done this before and can give me some idea on how to proceed? Since they only ask for a starting date I am guessing that I can't pick and choose particular years that I want to pay for?

Cheers!
 
Don't worry about it just now - you will catch it up.

You can make additional contributions but at this stage with a minimum requirement of 35 qualifying years for full state pension you will still get that assuming you work to retirement.
 
Trifid said:
£9k a year doesn't seem too bad to me as an all encompassing additional pension. Check out annuity values to be depressed.
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Yeah but there's no reason to think it will remain so, or it will even exist or it won't be means-tested in future decades. More people will retire in the years to come, economies expected to grow at slower rates and population stagnation all contribute to an unaffordable state pension program.
 
My wife's parents had the same discussion a year or so ago, albeit they are only a year or two away from state pension age.

I think her mum had missed 4 years when the kids were younger and it worked out around £400 to top it up. I think they worked out that she would break even if they got the state pension for 7 years so they ended up paying it at chances are they will live until 72.
 
If you've accrued 9 full years by age 34, then you'll be fine as you need 21 more full years to total 30 years. The 30 years of service is what makes you eligible for state pension.
 
I have 2 years not fully paid where I can make them up but they are wanting over £200 for each year. I also have another 2 years not fully paid but it states I'm too late to top those 2 years up.

I'm not sure if it's worth it either as I always see cash in my pocket (bank account) as the better option, but I don't want to work until I'm 68 either.

Also worth noting as it stands, you'll still get a state pension if you don't have the full 35 years, although it will be roughly half of the full amount.
 
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I was thinking the same, only owe £25 on one year but couldn't work out how to pay it as the site sends you in a loop.

I only want to pay the cheap one as it was in the last 2 years and read that you need 2 years contributions to be to claim JSA if I were to lose my job. Not sure if that is right now though with universal credit.
 
With "making it up" you never know whats about to happen to you, so I'd always try to stay as current as possible even if that means making up "lost" years right now, because worst case you could have an issue and end up not making the full 35 years, so the more you already have behind you the better.

Thats just my take on it though.
 
I'm very much a cynic when it comes to this. I have a small gap for one year, didn't even check how much they wanted for it.
With issues mentioned in above posts i'm not convinced the state pension will be worth much at all. House owners and private pension owners aren't likely to get an equal handout is my thinking.
However, i don't plan to down tools come whatever age it is i'm supposed to :)
 
but isnt it also the case that if someone fails to pay anywhere near the amount of NI needed then pension credits kick in to equal the state pension and with that another set of benefits including free tv licence over a certain age.
not suggesting anyone do this ,just thought i would mention
 
moon man said:
but isnt it also the case that if someone fails to pay anywhere near the amount of NI needed then pension credits kick in to equal the state pension and with that another set of benefits including free tv licence over a certain age.
not suggesting anyone do this ,just thought i would mention
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I just did the calculator for pension credits and even if the only other income you get is £100 per week from a private pension, it rules you out of pension credit. It's a very low income threshold before you're not entitled.

Not sure I'd want to live off only £173 a week in retirement!
 
DanTheMan said:
I just did the calculator for pension credits and even if the only other income you get is £100 per week from a private pension, it rules you out of pension credit. It's a very low income threshold before you're not entitled.

Not sure I'd want to live off only £173 a week in retirement!
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ah fair enough ,think i am nearly paid up ,but tbh i could happily live on that ,infact do so for many weeks of the year
 
Pawnless Endgame said:
If you've accrued 9 full years by age 34, then you'll be fine as you need 21 more full years to total 30 years. The 30 years of service is what makes you eligible for state pension.
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10 makes you eligible for state pension. 35 makes you eligible for a full state pension.
 
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