pension views please

[Elsdin66]

retirement due in around 3 years state pension, had my valuation thru from the dept of pensions. shows what I can expect to get when the time comes. New system is not easy to understand. however I have 48 qualified years and my accountant has advised as im self employed part time and currently paying the full voluntary payments to them that there is no benifit to continue paying as this will not increase or reduce my pension? If this being the case why have I not been advised by pension dept that this is the case? apart from the obvious that they are still getting an income from me. Hope all makes sense any views thanks all....

[timbo999]

Depends when you were born, but yes 48 years is more than the max qualifying years as I understand it (if born before 1950 its 44 years, after its 30 years but due to potentially increase to 35).

See https://www.gov.uk/state-pension/eligibility

As to why nobody told you...

[SunsetZed]

They can't tell you (or others) in case it changes and then people don't have time and / or funds to make the additional contributions before retiring so you have to make your own call on it. In your case I'd suggest you're pretty safe

[BoRED S2upid]

timbo999 said:

Depends when you were born, but yes 48 years is more than the max qualifying years as I understand it (if born before 1950 its 44 years, after its 30 years but due to potentially increase to 35).

See https://www.gov.uk/state-pension/eligibility

As to why nobody told you...

So after 30 / 35 years I can stop paying? Not something I have to think about just yet it's a good 30 years away.

[Elsdin66]

well it seems as still self employed even tho part time I cant just stop paying my contibutions thats what I was told when I finally got thru to pensions dept ( half hour on hold !!!!) will try again as cant see why my accountant would say one thing and them another, any one give me any solid true answers on this one ? perhaps if I stop working then I can stop paying !! must be someone out there in simular situation as me thanks all

[timbo999]

BoRED S2upid said:

So after 30 / 35 years I can stop paying? Not something I have to think about just yet it's a good 30 years away.

No, if you're employed and being paid you must pay NI (assumes you're paid over the minimum which is something like £109 a week...). You can obviously stop working! You don't pay NI if you're in receipt of a pension...