State Pension potential shortfall warning

[LeadFarmer]

Brads67 said:

Strange that my financial advisers have never brought it up. They are real people as well that are paid to know things like this but it's seemingly not on their radar. I wonder why that would be.?

Maybe because you aren't affected by these changes?

[LeadFarmer]

Sheepshanks said:

I'm not going to be bold enough to say that's definitely wrong - but I've never before heard of needing to continue to make payments.

I would guess the public sector person being quoted has been contracted out, hence they don't have 35yrs full contributions. So they're getting a reduced pension and have missed out on the opportunity since contracting out ended to get more years in.

Yes, as I've said, contracting out can be a contributing factor to this situation.

Regardless, a persons pension forecast may say they have full NI contributions when in fact they might not.

[LeadFarmer]

Drumroll said:

So you believe what somebody put on a website without any credible link. Then come onto another website and expect us to believe you again without a credible link.

Asking for a credible link on a forum isn't really asking much. Or do we go down the Trump route and believe everything that's said without checking.

As I've said numerous times already, I'm not asking anyone to believe me, I'm making the point that some people due to their circumstances, may not get the pension quoted on the gov.uk website. People can do their own research to find out of they are affected. Its quite simple.

I could turn the table and ask you to provide proof that i'm wrong, but I won't do that.

[LeadFarmer]

jsf said:

I suggest you bugger off

I shall do exactly that.

To Bads67, Chicken dinner and jsf - There has been no venom in my posts, and I've not personally insulted anyone, I've simply passed on real life experiences from those who have fallen foul of some changes to state pension and tried to make others aware of a potential problem they may discover in the future. Yet I'm told to bugger off.

To those who are affected, I hope you can take measures suggested to rectify the matter

I have now buggered off.

Edited by LeadFarmer on Friday 3rd January 09:54

[LeadFarmer]

TwigtheWonderkid said:

OK, I'm 57, been working non stop since 17, state pension age is 67. Contracted out from 1987 - 2012. Pension forecast on the website says £168.60, due to having paid for over 35 years. I will be retiring long before I'm 67. Let's say 60. So once I retire, what do I need to do, if anything, to ensure I get full state pension at 67?

If you message me I will give you some information that will help. I'm not posting information on here due to the unnecessary abuse Im being given for trying to help with highlighting a potential future problem that some may encounter, but this thread has little to do with contracting out and more to do with retiring earlier than state pension age. Contracting out will affect you as well, but the other changes may affect you even more. Message me and i will explain it the best i can.

Edited by LeadFarmer on Friday 3rd January 12:17

[LeadFarmer]

craig1912 said:

He doesn’t need to as he is in a very similar position to me. I retired early and currently won’t get full state pension as I haven’t enough years in after 2016 (I need two more) despite over 40 years contributions (although quite a bit of that contracted out).
The Government website makes it clear that I need two more years and as he isn’t intending retiring for another three years he will get what the Gov site states.
Not sure why you are being so defensive- instead of sending PM’s why don’t you just post? Yes some people may disagree with you but at least you are highlighting a potential issue.

Or so you believe. But my offer to give him information by PM still stands as he will be retiring before state pension age.

As for being defensive, I won't post any more information on here, not because others disagree, I can cope with that, but becuse of the verbal abuse I have received, particularly being told to 'bugger off' when all Ive tried to do is try and help those who may be affected.

If folk are happy to believe their state pension forecast without questioning it then good for them, but a time bomb may be ticking for them.

[LeadFarmer]

Mr Pointy said:

So who do we contact to find out our true position? The Future Pension Center or some other department?

I’ve previously posted how you go about finding out, but folk on here choose not to do it or believe it.

I never said the website is lying, it just might not be giving all the information for certain individuals. Best to clarify for yourself so that you know. Contracting out is a separate matter to this thread.

[LeadFarmer]

tighnamara said:

Don’t run away from the thread because some are questioning you, would be good to understand what is correct.

I believe you may be getting mixed up in that if you retire early you don’t pay NI on the pension but if you carry out any work up to state retirement age (say 67) you have to pay NI on any of the income from working.

Im not running away because people are questioning it, I'm running away because i getting verbally abused for trying to raise awareness.Ive been told to bugger off.

But you are correct when you say you can carry on paying NI if you carry out any work after early retirement, which is what I've said in my opening post. If you don't earn a wage after retiring before state pension age then you won't be paying NI as you can't pay it from a private/occupational pension and you may then receive a reduced state pension. The 35 year rule doesn't necessarily give you a full state pension anymore like people assume it does.

To anyone else, feel free to tell me to bugger off just because I haven't got a link, and to be honest I have no intention of searching for one, there might not even be one!!. I didn't read it from a financial website, I read it elsewhere and then also heard word of mouth from people who have fallen foul of this new rule, some have ben lucky enough to have found out soon enough to buy back those missing years. I think I was also warned about it around 2016 at a financial seminar my employers held for staff on the subject of retirement, but I didn't quite grasp the severity of it at the time. I don't have a link to the seminar I attended, and I doubt there is one.

If actual life experience of those affected doesn't trump a website link then Im sorry.

Edited by LeadFarmer on Friday 3rd January 16:16

[LeadFarmer]

Mr Pointy said:

Could you indicate which number we should call to get this forecast confirmation?

Just ring one of the numbers on their website to discuss your personal situation, be sure to ask about a reduced pension if retiring earlier than state pension age and not earning any kind of wage.

[LeadFarmer]

jsf said:

You were told to post some useful information or bugger off, after scaremongering and telling people the info on the government website was wrong, whilst not understanding the content of the information you used as reference and therefor posting false information.

Doing that is not helpful, it can be quite the opposite.

You should expect to be called out on that, especially if you continue to push that narrative despite all the evidence showing you are wrong.

What I've posted I believe to be correct. Theres no link for me to post. I'm not scaremongering, I'm asking people to check for themselves. What I've posted i believe to be true. Retire before state pension age and don't earn another wage, and there may be a shortfall in your state pension.

Why don't you ring them and ask for yourself as you seem so certain that Im lying. Tell them you plan to retire as say age 65 and you don't plan to work again and therefore won't be paying NI from age 65 to age 67, then ask if you will get the full state pension. It will only take you 5 mins to phone them and the lines are probably still open. Post back your results. Now Ive called you out, will you do it?

Edited by LeadFarmer on Friday 3rd January 16:42

[LeadFarmer]

jsf said:

I dont need to you daft sod, i can get all the info i need from my government gateway account. Just like everyone else can.

Yet more verbal abuse, first I'm told to bugger off, no I'm called a daft sod.

You've not read or taken in a word I have said/typed.

Ive repeatedly suggested that people don't automatically believe what the website says as it may be assuming you are going to remain in work and be paying NI right up to state retirement age. If you retire before state retirement age then the information on the website might not be correct.

I'll ask you again, phone them up and give them the following scenario..

Your planning to retire age 65, and won't be paying any further NI until your receive your state pension at age 67. Ask them if the two years of not paying NI will affect your state pension, ask them if it means you will be on a slightly reduced state pension. Ask them if those two missing years can be bought back.

Will you do that? Im guessing due to your ignorance or stubbornness that you won't.

Some people will find that they fit into the above scenario and could get a shortfall in state pension.

[LeadFarmer]

FiF said:

So I have a question, if as alleged on this thread the reduction due to contracting out....

The point of me starting this thread doesn't actually concern contracting out, its about retiring earlier than state pension age and not paying any further NI until receiving (applying for) your state pension.

[LeadFarmer]

Brads67 said:

Nah, not believing this. Have looked everywhere for this scenario but it appears nowhere.

If you do not have enough qualifying years, this will affect it, but if you do have enough years, retiring early won't affect it.

Happy to be proven wrong by being pointed at a reliable source. But I doubt I will be.

There is no web bases source for me to point you to, only real people who have experienced this problem following the 2016 rule changes. They don't provide anyone with the information, you have to ask them for it. Try ringing them and giving them the scenario I have posted above. It could be a costly mistake if yo leave it until you are too late. Despite the insults and ill feeling displayed towards me, I wouldn't want people to fall foul of the changes.

Edited by LeadFarmer on Friday 3rd January 17:45

[LeadFarmer]

jsf said:

That is simply not true.

The information on the website is specific to you and your NI record.

There you go again, writing wrong information.

Will you ring them as I have asked? I'm guessing not. Feel free to accept the information on their website, it matters not to me.

[LeadFarmer]

craig1912 said:

I retired with 9 years to go to my state pension age. Website is quite clear that I will get the maximum but only if I contribute a further two years.



All very straightforward really

Ring them to ensure you know for sure, thats all I'm asking people to do. From the info you have posted it appears you retired 2 years ago and will get your state pension in 2027. You may have a reduced state pension if you don't pay a penny in NI for the nine years from retiring to claiming your state pension. Ring them to check, thats all I'm asking. Hopefully your individual case will be ok.

Edited by LeadFarmer on Friday 3rd January 17:50

[LeadFarmer]

jsf said:

Why would i call them, i have all the info i need, including the number of years i need to keep paying before i get the full pension (one), as does the person above who needs another 2 years payments

Thats the whole point, the website isn't always correct. It can assume yo will carry on paying NI right up to state retirement.

I accept defeat with your particular case, you clearly won't spend 5 mins on a phone call. I do hope you aren't affected, but if you are please post back here to let us know, and hopefully to negate some of the things youve said to me.

Theres no harm in phoning them, it might just save some people from a costly mistake.


To anyone else who is reading and is curious, give them a ring and check your individual case. Ask if you will still receive the full amount if you retire early and DON't pay any more NI

Edited by LeadFarmer on Friday 3rd January 17:58

[LeadFarmer]

Theres nothing more that I can say. It's like puling teeth.

To anyone who is in two minds, ring them. Dont just ask them if the forecaster is correct, ask them about retiring early and not paying any further NI

Edited by LeadFarmer on Friday 3rd January 18:03

[LeadFarmer]

jsf said:

It does no such thing, it specifically states how many years you need to pay NI for before you get the full amount.

So you won't ring them?

[LeadFarmer]

tighnamara said:

Why would these be missing years though if the person had already paid fully up the required state pension years.

According to the experiences I've been given, If they've paid Ni right up to state retirement age then they are safe.

tighnamara said:

Lets flip it 180 degrees, say someone didn’t pay NI for their first 15 years after leaving school / university due to one thing or another (doesn’t matter why) but started paying NI at 32 up to 67. (Fully paid up 35 years up to retirement age)
Will they be entitled to the full pension even though the didn’t pay for a number of years or is this different due to being early in life and not late in life.

Ive considered that scenario myself, but Ive not asked about that as those aren't my circumstances. But its a good question isn't it.

[LeadFarmer]

Mr Pointy said:

I don't know where you get the idea that you can't pay NI if you stop work before your State Retirement age but my information is that you can. You cannot pay the reduced Class 2 rate (unless you take up some minor paid work & fake being self employed) but you can pay the Class 3 rate of around £733.

You can pay for missing years, which I have already posted about. What I said was that you can't pay NI from a pension, so unless you take on some work, claim to be self employed, or buy back the missing years then you can't pay it from a pension yo might be receiving.

LeadFarmer said:

Just ring one of the numbers on their website to discuss your personal situation, be sure to ask about a reduced pension if retiring earlier than state pension age and not earning any kind of wage.

Mr Pointy said:

I have to say this is a rather disappointing response as I did all the work in finding the numbers. This is a very complex subject & it's very important to use precise & correct terminology otherwise confusion reigns. In a previous post you said to contact the "pension information" number but there's no such thing. Googling "pension information" just brings up non .gov websites which are just after your money. If you wanted to be really helpful it wouldn't hurt to simply state the .gov number to call.

I don't know what the number was as I didn't keep a record of it. To find it I would have to search online for it, or ask other people who have used it, Though you say that you did all the work and found the umbers, so do you already have them?

Edited by LeadFarmer on Friday 3rd January 18:37