NI Contrib/Pension

[Mattt]

I got a letter from HMRC saying I underpaid a couple of years back (I only worked part of the year April-August) during a University placement.

If I pay £70 or so, they will count it as a full year.

Is it worth doing? I'll probably hit the 30 years required anyway - will this make any difference if I don't pay?

[Jespin]

I wouldn't bother providing you will still get your 30 years in anyway, it's not like it will get you any extra benefit.

[Scrogger]

I think you'll find that you need 49 (44 for females)years NI contributions to qualify for full state pension. ETA Changes have been proposed from 2010 for 30 years BUT you must still maintain ni conts right up to retirement age.

Don't whatever you do rely on this for a secure retirement. Within 10-15 years I can see it becoming a means tested benefit. The rules are always liable to change,you've been warned.

http://www.pensionsorter.co.uk/statepension.cfm#qu...

Edited by Scrogger on Sunday 18th October 21:41

[Mattt]

Scrogger said:

Don't whatever you do rely on this for a secure retirement. Within 10-15 years I can see it becoming a means tested benefit. The rules are always liable to change,you've been warned.

By the time I come to retire, I don't even think there will be a state penion, which is why I'm reluctant to give the fkers more money - especially when they owe me a couple of thousand in overpaid 08/09 taxes.

[Hereward]

HMRC have screwed up for the 2007-2008 year. Quite a few people in my company, myself included, have been sent snotty letters saying we have a NI contribution shortfall, which is incorrect. They have asked for 400-ish quid, I wrote back with the relevant P60, showing all in good order and told them to fk themselves. Sad thing is that many people getting the same letter may have met the payment demand.