state pension

[ips]

If one decided to retire early and live off savings until state pension age, lets say for arguments sake at 57 and retirement age is 67. What happens to your entitlement to state pension if you are no longer paying NI ??

[JimLondon]

You will need 30yrs of NI contribution.

[ips]

Just to clarify.

I have worked since I was 16 apart from six months on the dole at 17 (that was 1981) own business since 1985..

[oldypigeonpopper]

If one decided to retire early and live off savings until state pension age, lets say for arguments sake at 57 and retirement age is 67. What happens to your entitlement to state pension if you are no longer paying NI ??

hello, if you do not have the correct years of NI your pension will be reduced, to get that info look on the goverments web site/ you can phone, i paid in from 16 to 60, thats 44 years and it was calculated on that, i stopped working around 60 to look after my mother and an unfortunate work accident, now 67 i get a very very very very small increase above the standard pension, if you can manage on your savings like i had to between 60/65 i wish you good luck

Edited June 22, 2017 by oldypigeonpopper

[ips]

Thanks will have a look but it all seemed very confusing even trying to determine what ny retirement age even is. Think its something to do with inside leg x your height divided by waist measurement or summat 😁

[oldypigeonpopper]

Just to clarify.

I have worked since I was 16 apart from six months on the dole at 17 (that was 1981) own business since 1985..

hello, self employed ? i would contact the pension advisery service

[AVB]

When I log into my HMRC account it details my NI contributions year by year going back to when I started work in 1979 and states that I have made enough contributions to qualify for a full pension. Can you not do the same?

[pinfireman]

I receive 92% of the current State Pension................I do not get the full amount due to a couple of years in the 60.s being abroad, plus a couple of years missing when a crooked employer failed to pay them, and did a bunk to Spanish Morocco! (And our useless HMRC fail to acknowledge this!). It meant I failed to have the 41 years of NI contributions needed to qualify for full State Pension. In April 2010, our then Chancellor, Alistair Darling, announced that the number of years needed to qualify would drop to 31...I immediately phoned Dept of Work & Pensions, Belfast, to find out if I now qualified, only to be told it was not retrospective! When I asked why, in a time of fiscal crisis, the Brown/Labour government were reducing the "take" to pay for future pensions, the young man on the phone told me, very quietly, that I should perhaps think about who would benefit from these changes.....the answer being those who turned up to work in this country from abroad, and who were already in their late 20,s and 30,s !!!! The announcement of this took place when the country was in financial meltdown, and most newspapers failed to cover it.....only the good old Yorkshire Post mentioned it, and that was a small paragraph on page 6 ....So migrants here will get a full State Pension for 30 years contributions, but those of us with 38 years only get a percentage. Thanks Labour.....you proved once again that, as far as the working man is concerned, you are RUBBISH!

[Bigbob]

My mate took a pakage left on the friday went to the social on the monday morning the lady says your package exceeds your allowance your not entitled to any money he said yes i know but i want to sign on to get my stamp payed whilst unemployed she said waste of time after 33 years you wont add any more to your pension

[ips]

When I log into my HMRC account it details my NI contributions year by year going back to when I started work in 1979 and states that I have made enough contributions to qualify for a full pension. Can you not do the same?

My accountant deals with such matters I have never logged on didn't even know you could. How do I do it then ??

[yod dropper]

I think you'll find you now need 35 years for a full pension. You can contact HMRC to find out how many years you have. Consider top-ups.

[AVB]

My accountant deals with such matters I have never logged on didn't even know you could. How do I do it then ??

 

 

Logon via this site.

 

https://www.tax.service.gov.uk/check-your-state-pension

 

Use your existing logon for self assessment etc. or if you don't have one you can register.

[JohnfromUK]

If one decided to retire early and live off savings until state pension age, lets say for arguments sake at 57 and retirement age is 67. What happens to your entitlement to state pension if you are no longer paying NI ??

This is pretty much what I have recently done; I have been assured that I have sufficient NI 'complete years' for a full state pension when I get to 66 (I'm a little older than you).

 

Good luck with trying to get stuff from Government websites - took me AGES - they regularly seem to be 'down for maintenance' - and are extremely difficult to navigate. Getting your original 'log-on' requires some of a number of documents - e.g. photo driving license (which I don't have), and out of the possible methods/providers (people like the Post Office), only one fitted me and the documents I have - and you guessed it - it was down!

[AVB]

 

Good luck with trying to get stuff from Government websites - took me AGES - they regularly seem to be 'down for maintenance' - and are extremely difficult to navigate. Getting your original 'log-on' requires some of a number of documents - e.g. photo driving license (which I don't have), and out of the possible methods/providers (people like the Post Office), only one fitted me and the documents I have - and you guessed it - it was down!

 

I think that is harsh. Yes the one off registration does require you to identify yourself (and so it should as it gives you access to a lot of your confidential data - tax returns etc.) but I don't believe the system to be down more than other on-line sites. And I believe the navigation to be pretty good. It is the future so people had better start getting used to it.

[ips]

Ok I am logged on retirement at 2031 (******** to that) £155 pw. Cant find how to calculate how much if I drop out at lets say age 55

[Thunderbird]

Ok I am logged on retirement at 2031 (******** to that) £155 pw. Cant find how to calculate how much if I drop out at lets say age 55

 

If you have the required minimum contributions (which as discussed you can find out quite easily) you won't suffer a reduction in state pension, but you won't get anything until you reach the state pension age applicable to you.

 

It should tell you if you have reached the minimum, I'm 47 and I reached it a few years ago.

[JohnfromUK]

I think that is harsh. Yes the one off registration does require you to identify yourself (and so it should as it gives you access to a lot of your confidential data - tax returns etc.) but I don't believe the system to be down more than other on-line sites. And I believe the navigation to be pretty good. It is the future so people had better start getting used to it.

Well, it was my experience of the site, and I can only relate what I found. I had to use Experian to get my access - and the first one they gave me didn't work at all. The helpline was not accepting any calls. Did a web chat with a very helpful person - who couldn't manage to sort it out despite trying quite hard. None of the other possible 'entry points' would accept the data I have (I think I use the wrong bank etc.). One required some data from a recent payslip - and that didn't work either.

Overall I genuinely found it a very frustrating and poor experience. I have reasonable computer skills (having been an engineer) and a fast reliable web connection.

 

I do fully accept that security has to be watertight and rigorous - but that is no excuse for broken links, 'down for maintenance', helpline not working - and their own web chat (though very pleasant and helpful) not being able to make progress.

[blackbird]

I would not rely on a state pension in a few years time as the the country will soon be bankrupt if things carry on as they are.

[Paul1440]

I receive 92% of the current State Pension................I do not get the full amount due to a couple of years in the 60.s being abroad, plus a couple of years missing when a crooked employer failed to pay them, and did a bunk to Spanish Morocco! (And our useless HMRC fail to acknowledge this!). It meant I failed to have the 41 years of NI contributions needed to qualify for full State Pension. In April 2010, our then Chancellor, Alistair Darling, announced that the number of years needed to qualify would drop to 31...I immediately phoned Dept of Work & Pensions, Belfast, to find out if I now qualified, only to be told it was not retrospective! When I asked why, in a time of fiscal crisis, the Brown/Labour government were reducing the "take" to pay for future pensions, the young man on the phone told me, very quietly, that I should perhaps think about who would benefit from these changes.....the answer being those who turned up to work in this country from abroad, and who were already in their late 20,s and 30,s !!!! The announcement of this took place when the country was in financial meltdown, and most newspapers failed to cover it.....only the good old Yorkshire Post mentioned it, and that was a small paragraph on page 6 ....So migrants here will get a full State Pension for 30 years contributions, but those of us with 38 years only get a percentage. Thanks Labour.....you proved once again that, as far as the working man is concerned, you are RUBBISH!

Mmm.. not sure that was the reason. I suspect it's more to do with the fact that just about anyone entering into the work place does it 5 to 7 years later than in the past due to University gap years etc. The workplace is changing with the expectstion that continuous employment being a thing of the past.

Edited June 22, 2017 by Paul1440

[billytheghillie]

just logged on to the gov. web site £159 a week! Whoopeee! Cant Wait!

[bear-uk]

My summary says I have 45 years of full contributions. Yet only getting £145.76 a week, but only if I keep on contributing. Otherwise its £127.53 a week.

Also no mention of topping up.

Edited June 22, 2017 by bear-uk

[AVB]

My summary says I have 45 years of full contributions. Yet only getting £145.76 a week, but only if I keep on contributing. Otherwise its £127.53 a week.

Also no mention of topping up.

That's weird. Mine states 30 years of contributions, £177.19/week pension from 2029 and that I won't get any more than that regardless of how much more I contribute (You have to contribute if you are working as it pays for other state benefits and the NHS).

 

Why are you not getting the full amount when you have 45 years of contribution?

[yod dropper]

There are to be two types. Older people will get a pension plus any earnings related top up and the younger will just get a flat rate which is higher than the previous basic pension. Not sure what year of birth this apples to.

[ips]

Its all very confusing, think mine said it could not increase so does that mean I could pack in work and contributions now and get the same amount in 2031 than if I carry on ??

[pinfireman]

Mmm.. not sure that was the reason. I suspect it's more to do with the fact that just about anyone entering into the work place does it 5 to 7 years later than in the past due to University gap years etc. The workplace is changing with the expectstion that continuous employment being a thing of the past.

Wrong! Those entering the workplace after Uni would be in their early 20,s , and still capable of meeting the "old" requirement of 41 years (especially as retirement age has now gone to 67). But those turning up here, in their 30,s would not have met the required 41 years! And apparently this was discussed at a high level in the Blair/Brown government.....to whom we owe the immigrant problem!