National Insurance Contributions

[steve-5snwi]

There is a very good chance that tomorrow morning I will be looking for a new career. I'm fine with it as i feel the job has run its course, i very much doubt it will be redundancy and i will have been in the position for less than 2 years and feel it will be a mutual decision in going our separate ways.

The question is if i walk on my own accord I won't be able to claim benefits (never have and never will) and I intend to get something quickly, even if its shelf staking or making coffee, what happens with regards to NI payments. I'm aware that any none payments can affect the state pension later down the line and i'm keen to avoid this. I have paid into pensions in the past but haven't had one for the past 22 months.

Thanks

[alex290568]

You need 30 years of NI contributions to claim a full state pension. Most people will work 40 years or more so a few months off won't hurt.

[condor]

It's 35 years NI contributions now.

[Slushbox]

If it's a 'job' that treats you as an employee, you'll pay NI contribs. If you become a self-employed freelance shelf-stacker you can pay your own.

I'm out of touch with the current state of pension ages/rates, but I topped up my State Pension about five years ago, and it's now at the full rate. You can lose a few months or years, then get a State Pension forecast, and top-up.

Also it's wise to keep track of exactly which personal pension schemes you're currently paid into, I switched jobs a few times and had a heck of a job tracking old pensions down, as the schemes frequently change names and addresses. One of them with NPI has been sold on/transferred three times.

Each transfer/sale introduced slight 'mistakes' on my name, address and birthdate. Print the details out, and buy a safe. :-)

Some State pension info here, update April 2017:

http://www.which.co.uk/money/pensions-and-retireme...

[klunkT5]

condor said:

It's 35 years NI contributions now.

I checked the GOV.UK website today and it still states 30 years of NI contributions?

[condor]

Yes, that does seem contradictory. Here's an article from last year that states 35 full years are needed. It states you need 30 years to get the old state pension but 35 to get the new state pension.


http://www.thisismoney.co.uk/money/pensions/articl...

Edited by condor on Sunday 18th June 07:20