The Retirement Thread
1 lurker |
176 watchers
Oct 2023
8:12am, 4 Oct 2023
47,506 posts
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EvilPixie
Daz I am 50 so possible you too had a savvy parent
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Oct 2023
8:15am, 4 Oct 2023
1,709 posts
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Daz Love
I left school at 16 in 1990 and got my first job. On my NI record it shows my first year was 1990-1991.
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Oct 2023
8:20am, 4 Oct 2023
30,053 posts
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Rosehip
I have a one week gap from 2009, says I could pay £15 for that year - but also that I can’t improve my forecast. So I won’t be paying it.
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Oct 2023
8:57am, 4 Oct 2023
7,766 posts
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um
From 1975 to 2011 everyone (should have) got 3 years of NI credit from age 16, whether in education or training or not. gov.uk
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Oct 2023
9:02am, 4 Oct 2023
47,509 posts
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EvilPixie
I take it back my dad wasn't savvy haha
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Oct 2023
9:49am, 4 Oct 2023
47,946 posts
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HappyG(rrr)
Does one have to keep contributing NI right up until state pension age (67) even if "retired" earlier? How do you do that? Contribute out of your person pension or other savings?
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Oct 2023
9:51am, 4 Oct 2023
47,514 posts
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EvilPixie
I don't think you HAVE to happy but if you are working and getting a salary about the "tax limit" then you will pay I believe |
Oct 2023
10:01am, 4 Oct 2023
81,776 posts
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Diogenes
39 years of full contributions 10 years to contribute before 5 April 2033 2 years when you did not contribute enough Those 2 years were when I was at university, but the years before that, from 15-18 show as full years. Not sure why those count but the uni years didn't. |
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Oct 2023
10:05am, 4 Oct 2023
81,777 posts
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Diogenes
State pension available March 2034 Your forecast is £206.40 a week, £897.47 a month, £10,769.66 a year £206.40 is the most you can get You cannot improve your forecast any more. If you’re working you may still need to pay National Insurance contributions until XX March as they fund other state benefits and the NHS. I will be retired before then, trying to make my private pensions last. |
Oct 2023
11:03am, 4 Oct 2023
14,593 posts
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Dave W
Nope. As I understand it once retired you don’t pay NI. If you don’t have your required number of years you can actually buy extra for cash. I no longer pay NI even though I have a part time job as my earnings don’t reach the threshold even though I pay income tax on my previous works pension. |
McGoohan Useful Links
FE accepts no responsibility for external links. Or anything, really.- Money Helper
- How Much is Enough to Retire On?
- Retirement Living Standards
- How much will you need to retire?
- Free Govt website for pension advice
- SIPP pensions
- ISAs
- Check your National Insurance contributions
- Check your state pension account
- Martin Lewis on pensions
- Support and advice for those widowed under the age of 50
- Power of Attorney information
- Making the most of your retirement
- 20 tips for a happy retirement
- Married Couple's Allowance
- Aviva guide to retirement planning
- U3A
- U3A Local Sites - map
- Make a Power of Attorney
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