nun

It depends on when you'll retire. Basically if you retire after 2016 you'll need to pay 35 years of payments.....but the basic pension will be more than it its now...144GBPs vs 118GBPs. Right now HMRC only lets you pay up to 30, but when the new legislation starts you'll be able to pay catch up years and then go onto the max of 35.

Yorkieabroad

So has that been passed now, the 35 years?

Last time I spoke to my mate (well, ex-mate now I guess, since I found out he's been writing to you lot behind my back all these years...I feel so...betrayed)in Newcastle, he told me to hold off paying more than the 30 to see whether it went through or not. That was a couple of months ago, but not seen anything reported.

rebs

It's not fully been signed into law (or whatever the correct phrase is...) as yet, so things are still a bit in limbo - we know this change is coming but all the official government websites still reflect the current info ie 30 years rather than 35 years contributions etc.

thinbrit

Men born before 6 April 1945 needed 44 qualifying years for a full Basic State Pension, and women born before 6 April 1950 needed 39 years.

Even if it goes us to 35 years, it has been worse.

z1565124

Anyone have any concerns it will be means tested in the future? I won't be collecting mine for another 25 years and worry that anything I pay in now I won't be eligible to collect if it was means tested. It's a gamble I guess as others have pointed out and I guess what the means tested would entail, assets over 1MMUKP, 2, 10?

nun

I have no idea what will happen in the future, but UK pension reform has been good for those that pay Class 2 and given the tiny cost of Class 2 NI it's well worth any gamble.

robin1234

I'd worry more that I would be eligible to collect if it was means tested.