This board has been created to share any money saving ideas, tips and hints. Please contribute your thoughts so everybody can economise on their budgets.. This is NOT a selling site.
Just a reminder to check if you have any missing national insurance years that have gone unpaid and could affect your state pension. Have until 5th April to check. (others have noted this has been extended now to end July).
I’ve done mine already but I saw it on Martin Lewis show yesterday so thought I’d post incase anyone didn’t know about it. (Appreciate that given the way our country is headed the state pension may be worthless but it could be beneficial to some closer to retirement age)
The deadline has been extended until July to pay missing years, as they’ve been inundated since Martin Lewis raised it on his show two weeks ago. It’s the governments future pensions centre people need to contact. I’ve been trying since the programme was aired and it’s either engaged or cuts off.
But if you havnt paid your full stamp you get it topped up with pension credits, then you are entitled ti cost of living payments, lower council tax, & other things / help, if you receive full state pension you don’t get anything x
I have just finalised my pension situation with HMRC - it took months and every time I called, I wait at least an hour to get through. Don't be fooled by this 35 years worth of NI contributions statement. It also takes into consideration whether during your working life you were contracted out (lower NI payments) via a company pension scheme. I worked for 46 years and still had to make up missing contribution in order to quality for a full state pension. Plus, if with state pension and any private pensions, that amounts to more than £12.500 pa you are taxed. As to PC, if you have more than £10K in savings, you will not qualify (most home owners have circa that amount just for future repairs etc).
For people saying it will be topped up with pension credit please remember you will be receiving the “new” state pension amount so even if you don’t get the full amount it may be over the level where pension credit applicable. Don’t rely on what is relevant today.
They have extended the date until July as the amount of people checking crashed the system was on last nights show 7 march available on itvx or catch up.
You need 35 full years to get the maximum state pension, for 30 years you get the lower rate. You can sign up for an HMRC goverment gateway account, then you can check how many qualifying years you have x