How to get up to date with National Insurance payments

[Simon Bags]

Morning everyone. Just a bit of guidance if you would be so kind. I'm 43 and was made redundant a year ago, 31st October 2011 to be precise.

Thought it would be nice if I could take some time away from work and live off some hard earnt savings for a bit and as such, I've not worked since that date. This obviously means that I've not contributed any NI for 12 months. I'd like to keep my State Pension contribution up to date so is there an easy way of contacting someone (if so, who?) tell them I've been on a sabatical for 12 months and that this may continue for some time and get them to tell me how much I need to contribute to keep it all up to date?

Thanks for your help.

Simon.

[Eric Mc]

A 12 month gap shouldn't make a serious dent in your state pension entitlement.

[Simon Bags]

Eric Mc said:

A 12 month gap shouldn't make a serious dent in your state pension entitlement.

Fair enough, but what if my gap goes from 12 months, to 24 months, to 36 months? Would really like to keep this up to date.

Thanks, Simon.

[condor]

I have an exemption from paying NI certificate as I earn less than £5K a year - registered self employed but mainly living off savings for the last few years. I've already built up 30 years NI contributions ( enough for full state pension) so don't think I need to bother too much about them now

[Simon Bags]

condor said:

I have an exemption from paying NI certificate as I earn less than £5K a year - registered self employed but mainly living off savings for the last few years. I've already built up 30 years NI contributions ( enough for full state pension) so don't think I need to bother too much about them now

That's a bit of a problem for me as I've only been working and contributing for 20 years and I earn more than £5K per year.

Think I'll track someone down and e-mail them, any ideas where's the best place to start?

Simon.

[mcbook]

From memory you're allowed a gap of 5 years before it has any impact on state pension.

Also, I recently read that they're changing the rules so that you only need 30 years contribution in total to be eligible for full pension.

If you really want to, it's fairly easy to make voluntary contributions. Google it.

[Simon Bags]

mcbook said:

From memory you're allowed a gap of 5 years before it has any impact on state pension.

Also, I recently read that they're changing the rules so that you only need 30 years contribution in total to be eligible for full pension.

If you really want to, it's fairly easy to make voluntary contributions. Google it.

Okley dokley, some encouraging views and pointers.

Thanks everyone, appreciate it.

Simon.

[sumo69]

As stated the full state pension is paid when you have 30 years contributions so the decision whether to pay voluntary contributions depends on what you consider will be the duration of your working life from now - as you have 20 you will only need to contribute another 10 so decide if thats likely or not.

If yes, then don't bother trying to pay voluntary contributions (they are £13.25 per week) as you will be wasting the money!

If no, then you will need to pay Class 3 Voluntary Contributions to make up the shortfall or obtain credit by signing-on as unemployed (if you qualify and want to).

Note that you have 6 years from the end of the respective tax year to do this so you can make the decision once you know more about what has happened in the future (if that makes sense!!).

This link tells you how to pay:

http://www.hmrc.gov.uk/payinghmrc/class3nics.htm

David

[Simon Bags]

sumo69 said:

As stated the full state pension is paid when you have 30 years contributions so the decision whether to pay voluntary contributions depends on what you consider will be the duration of your working life from now - as you have 20 you will only need to contribute another 10 so decide if thats likely or not.

If yes, then don't bother trying to pay voluntary contributions (they are £13.25 per week) as you will be wasting the money!

If no, then you will need to pay Class 3 Voluntary Contributions to make up the shortfall or obtain credit by signing-on as unemployed (if you qualify and want to).

Note that you have 6 years from the end of the respective tax year to do this so you can make the decision once you know more about what has happened in the future (if that makes sense!!).

This link tells you how to pay:

http://www.hmrc.gov.uk/payinghmrc/class3nics.htm

David

That's brilliant, thanks David.

Simon.

[RVVUNM]

Just get a job you lazy fker.

[cuprabob]

You should have signed on as you would have been eligible for contribution based JSA for 26 weeks and you would more importantly also got your NI stamp for the period.

[caziques]

I thought you could choose to sign on, but not claim any benefits - then NI contributions are credited to you.

Got a letter the other day about contributions, strange as I've lived in NZ for 12 years and I've no intention of paying or returning.