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UK N.I. contributions

UK N.I. contributions

Old Oct 1st 2020, 4:26 am
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Default UK N.I. contributions

My wife last week looking at her N.I.contributions online discovered there were shortfalls for quite a few years but has never received a letter informing her about this apart from one year which I recall because I remember us discussing it. Mostly she has worked part-time and I suspect her earnings were below the limit before she had to contribute. But surely, she should have received a letter informing her about this?
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Old Oct 1st 2020, 5:08 am
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Default Re: UK N.I. contributions

Surely, the responsibility lies with the individual.
My wife and I have been discussing this topic as we haven't made any contributions for 12 years and are a fair way off retirement age so are looking at catching up with voluntary contributions. We do have private pensions but would like to be guaranteed a decent income once we retire. At the moment, we are thinking of winding down and going part time once we hit 60 and starting to draw on our private pensions.
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Old Oct 1st 2020, 6:16 am
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Default Re: UK N.I. contributions

Originally Posted by FenTiger View Post
My wife last week looking at her N.I.contributions online discovered there were shortfalls for quite a few years but has never received a letter informing her about this apart from one year which I recall because I remember us discussing it. Mostly she has worked part-time and I suspect her earnings were below the limit before she had to contribute. But surely, she should have received a letter informing her about this?
The responsibility is yours. If I remember rightly you are allowed to make up to 7 years back shortfall on your NI contributions and you can elect to pay contributions until (I think) age 67 or maybe 69. If you write to the department they will tell you exactly.
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Old Oct 1st 2020, 7:03 am
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Default Re: UK N.I. contributions

My advice - "DO IT". While I was working in The Middle East I did it and tried to raise awareness among colleagues. Some followed my advice and are now reaping the harvest. Others did not and are living in penury.
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Old Oct 1st 2020, 7:56 am
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Default Re: UK N.I. contributions

Originally Posted by PaulinEger View Post
Surely, the responsibility lies with the individual.
My wife and I have been discussing this topic as we haven't made any contributions for 12 years and are a fair way off retirement age so are looking at catching up with voluntary contributions. We do have private pensions but would like to be guaranteed a decent income once we retire. At the moment, we are thinking of winding down and going part time once we hit 60 and starting to draw on our private pensions.
You can check online what your UK government pension would be with and without the voluntary contributions. I'm going to revisit mine because if I make voluntary contributions until my UK government pension retirement age I will get a higher pension income per week. Same situation for my wife.
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Old Oct 1st 2020, 8:58 am
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Default Re: UK N.I. contributions

Originally Posted by scot47 View Post
My advice - "DO IT".
Wot scot47 said+1
Especially as UK state pensions will now indexed as if you were in the UK even if you start drawing your pension after January next year.

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Old Oct 1st 2020, 12:58 pm
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Default Re: UK N.I. contributions

Until some bright spark in The Treasury hits on the bright idea of abolishing The State Retirment Pension.
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Old Oct 1st 2020, 1:52 pm
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Default Re: UK N.I. contributions

Originally Posted by scot47 View Post
Until some bright spark in The Treasury hits on the bright idea of abolishing The State Retirment Pension.
That process IMO has already started with the introduction of compulsory work place pensions and since 2018 (I think) anyone who employs 1 person or more has to offer a transportable pension scheme so by the time this has rattled through the years the state will be in a position to phase out the state OAP.
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Old Oct 2nd 2020, 6:00 pm
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Default Re: UK N.I. contributions

Nevermind, I didn't read thee thread properly

Last edited by Benny Kovacs; Oct 2nd 2020 at 6:16 pm.
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Old Oct 9th 2020, 8:34 am
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Default Re: UK N.I. contributions

Originally Posted by Peter_in_Hungary View Post
That process IMO has already started with the introduction of compulsory work place pensions and since 2018 (I think) anyone who employs 1 person or more has to offer a transportable pension scheme so by the time this has rattled through the years the state will be in a position to phase out the state OAP.
Totally agree Peter, it is only a matter of time especially in the current economic climate.
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