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What is the maximum NI pension one can get?

Rabdos

Well-Known Member
Messages
404
Type of diabetes
Type 2
Treatment type
Diet only
Hello

I read that "The full state pension is £221.20 a week".

Logging into my NI record, it says I will be getting that in year 2xxx.

So what is the point to continue NI contributions if I have already maxed out contributions?
And would it make sense to pay NI contributions for past incomplete years?

Thanks!
 
Firstly not really the right place as nothing todo with diabetes

Second a question I’ve heard many times if you only have to have x number of years to get full pension why pay more..

This simple answer is you are still expected to contribute to the society you live in whilst you earn a living

As for back paying no point if you already have enough years only if you are struggling to get the required years
 
Rabdos said:
And would it make sense to pay NI contributions for past incomplete years?
Click to expand...
If it states you’ll get the ‘full state pension’ at retirement age you have made enough contributions already, so no point in making up incomplete years. That‘s how I understand it.
I have incomplete years due to raising children and working part time so my expected pension is currently a smaller amount.
 
@Rachox, this info could be of use to you

Home Responsibilities Protection

Home Responsibilities Protection ran between 1978 and 2010 to help protect your State Pension - National Insurance credits, what you'll get, eligibility and applying.
www.gov.uk
 
You don’t have a choice, unless you stop working. Contributions you are making go towards such things as NHS, and the pensions of current people in receipt of state pensions ( who will in their time have funded the pensions of previous recipients, through their own NI contributions
 

With respect

Poster posted this in ‘General Chat’ so it is appropriately posted - what’s the problem? - poster just after some general advice
 
The website https://www.gov.uk/check-state-pension shows your pension forecast, plus what it would be if you paid any missing years. I think you can pack pay missing NI contributions for a few years. My wife did that as she is a full time housewife. You need a minimum of 10 years to get a state pension. Women getting child benefit automatically for those years. To get the full state pension you need 35 years.
 
It’s actually only 30 full years for a full pension and you can get something though won’t be much with 1 full year. I’ve just done mine and I have 29 years & 15 weeks so I’m just short of a full pension- my part year is from 1997 so too late to top up. If it had been in the last 10 years I would have until April 2025 to top up - most of my years are from HRP with childcare then full time carer
 
I get the state pension, but not quite the full amount as I was contracted out for a few years, plus I lived in Canada for a while. If you decide to defer taking the state pension it increases by 1% for every 9 weeks you defer. I decided to take the pension when I turned 65 as I also have a private pension when I retire from work. I work full time and wanted some money from the pension for household projects such as a new bathroom, kitchen, patio, garden landscaping, plus paying off my wife’s car loan. My tax code at work takes into account my state pension, but it seems to take them a year to apply this, so I ended up having to pay £4000 back tax on my pension. You don’t pay NI on your earnings if you are of pension age, but you need to apply for this at your workplace.

Personal allowance is similar to the state pension, so when you do get a private pension you are likely to be paying tax on this. You need to take your private pension before age 75 otherwise your wife my pay a huge amount of tax if she inherits it. Annuity rates rise as you get older, so aged 75 you get more money than at 65 or 70. … see https://www.sharingpensions.co.uk/annuity_rates.htm
 
I rang the pension forecast helpline to enquire what my pension would be, as I was contracted out, and got a very unhelpful lady, who said I'd get a full pension, why was I ringing!

I don't know who else to go to, to find out definitely what pension I'll get.
 
Try using this service, @Hopeful34

Check your State Pension forecast

Find out how much State Pension you could get (your forecast), when you could get it and how you could increase it
www.gov.uk
 
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