Hi Following on from Mrs Hurtybacks information that 30 years of Pension Credits receives a full pension I need to check the record they sent listing all the years credits to see how many years I do have. Its close to 30 I think as have been in continuous employment or benefits since 1980. However if its one or two less say 25-28 and the LCW conrtibutions are halted would this mean no or reduced pension, and if theres 30 years whats the point of contributing extra years over that limit-do you get a super pension please? The option would seem to be complete your 30 years then get out?
The current requirement is 30 years but is likely to rise to 35 if the current planned changes to pensions are implemented, also it is not the number of years that you have worked but the number of years that you have paid or been credited NICs, many of those on low pay often do not receive NICs at all, the only way to know for certain is to request a statement from HMRC.
In principle there is no point acquiring further NICs once you have met the then current requirement, but if the requirement is changed again, then you could still lose out. The changes will introduce a minimum number of NICs in order to receive any pension and not having the required number will result in a reduced pension.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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