Pagey wrote:If you can pay 2nd class contributions like I was it's definitely worth doing from a financial aspect. Current rate is £2.80 a week, I need to pay a maximum of 4 years worth for my pension to increase by £35 a week. There are rules on whether you can pay class 2 or 3 which is more expensive.
Well it's certainly worth paying the top-up at that rate. I'll dig further and see what they need and how it will affect my final pension.
Thanks, again, for putting this on the board.
VS
"Properly trained, man can be a dog's best friend"
HHTel wrote:"the reality is that we'll work to around 70, although hopefully not full time."
I was pointing out that the quote above which you accredited to me was definately not by me.
I certainly didn't work until 70. I retired when I was 55. I'd had enough by then.
Huh. Not quite sure how the attribution changed there, it was certainly not my intention to misquote anyone. As for working until 70, I'm not planning on doing it. I'm planning on being "a burden to society" even less.
"A man who does not think for himself, does not think at all." Wilde
I finally got it to work for me however I had to set up a new Gateway account, no issue with that it only took a few minutes. The only details I needed was Passport number, NI number, email address and I used my Thai phone number. Works perfect
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali
This has totally confused me; my understanding was that you are required to contribute 35 years to receive the full new flat rate pension. When I checked my statement it told me that I have paid 32 full years and as I have 5 more years to go till I'm 66, that will make 37 years contributions, however even with that I will only be entitled to £142 and some shrapnel; so how does that work? The only thing I can think of is that I have 12 years where I didn't pay anything, but then again as I will still meet the 35 year contributions, I don't know..........my brain hurts
“He has all the virtues I dislike and none of the vices I admire.” Sir Winston Churchill
Life isn't like a bowl of cherries or peaches, it's more like a jar of Jalapenos--what you do today, might burn your ass tomorrow......
Mine is even crazier, I have paid in for 10 years and it says I need to pay for 7 more to get the full pension. If that is the case I would be happy to pay however I believe it is incorrect.
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali
aragon wrote:This has totally confused me; my understanding was that you are required to contribute 35 years to receive the full new flat rate pension. When I checked my statement it told me that I have paid 32 full years and as I have 5 more years to go till I'm 66, that will make 37 years contributions, however even with that I will only be entitled to £142 and some shrapnel; so how does that work? The only thing I can think of is that I have 12 years where I didn't pay anything, but then again as I will still meet the 35 year contributions, I don't know..........my brain hurts
I've been trying to work out how much I might get and it seems that SERPS and contracted out company pension schemes are what causes shortfalls if you have full qualifying years. This website explains how the new pension works: http://www.moneysavingexpert.com/savings/state-pensions
StevePIraq wrote:Mine is even crazier, I have paid in for 10 years and it says I need to pay for 7 more to get the full pension. If that is the case I would be happy to pay however I believe it is incorrect.
Being a Beta site I am a little wary about the validity of some of the info it's providing. Coincidentally, before this thread was posted I had been in contact with the authorities back in the UK about getting an updated pension forecast, which they promised to send me, so once I receive it, if I ever do given the normal speed of service from government departments and the fact that it is now Ramadan, so anything might happen to the mail system here in the ME, I'll let you know if it tallies with what the website told me.
“He has all the virtues I dislike and none of the vices I admire.” Sir Winston Churchill
Life isn't like a bowl of cherries or peaches, it's more like a jar of Jalapenos--what you do today, might burn your ass tomorrow......
BB
I have just helped my Thai wife claim her state Pension. She was entitled to claim 7 years ago but we deferred it as the money was not need. Anyway the amount she is getting is similar to your wife but when I reach retirement age later this year her pension will be enhanced if we submit a copy of our marriage certificate. The rules are if the basic state pension is below £71.50 it may be enhanced based on your partners NI contribution.
The deferment means she gets either a lump sum payment for the 7 years or a regular weekly payment. the amounts are approx £25 per week or lump sum £9500.
PJG, I ask again please. Where is it written that, "The rules are if the basic state pension is below £71.50 it may be enhanced based on your partners NI contribution."
It doesn't affect my wife just yet, but I know some people who might gain from this.
Wife received a letter from the DWP on 1 Jun titled "About your State Pension, Award Notice and Statement Details" in the letter it quotes
"You are entitled to a State Pension based on the National Insurance Contributions you have paid.
If your basic state pension is below £71.50, you may be able to get State Pension based on your spouse's or civil partner's NI contributions.By spouse we mean your husband or wife. To get State Pension based on your spouse or civil partner's NI contributions your spouse or civil partner must:
have also reached State Pension age, and
be entitled to some State Pension (even if they have not claimed it)
Your spouse or civil partner must also have been born on or after 6 April 1950."
Have quoted the letter verbatim. Phoned up the Pension service and they confirmed that her pension would be enhanced once I have reached retirement age (November this year) and have submitted a copy of the Marriage Certificate.
They also confirmed they would be giving an exact figure for the deferrement settlement within about 3 weeks.
Sorry cannot supply exact rule & reg no but hope this helps
