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Posted Tue, 15 Aug 2023 14:29:00 GMT by
Hi, I have read my NI report online and I notice that I have another 16 years until I reach retirement age. It also says: "Forecast if you contribute another 8 years before 5 April 2039 £203.85 a week" Q :: ... it sounds like i only need to contribute another 8 years out the 16, please can you confirm that this is the case? and: "£203.85 is the most you can get You cannot improve your forecast any further, unless you choose to put off claiming." Q :: ... i find the wording a bit confusing. Is the £203.85 the absolute maximum for state pensions nationwide? If so, I think the 2nd sentence could be rewritten I also notice that on my NI record it says "2012-13 Year is not full" and it also says I have until 5 April 2025 to pay this if I want to. Q :: ... basically I just need to know if I just have to pay another 8 years (out of the 16 remaining) of NI to qualify? ... i don't want to miss any opportunity to pay a shortfall, or pay extra to top it up to max before a deadline. Thank you for reading
Posted Mon, 21 Aug 2023 15:48:25 GMT by HMRC Admin 10 Response
Hi
The amount of state pension you may be entitled to is calculated by the Department for Works and Pensions (DWP).  
HMRC cannot advise on this, however we can give the amount of qualifying years you have and if you have any shortfalls due.
You are liable to pay UK national Insurance contributions up to your UK state pension age: you may only need another 8 qualifying years for obtain the full State pension amount however you will pay NI Contributions until your state pension age.
The annual amount of UK State Pension is set by the UK Government and not by HMRC or DWP.
If you defer your state pension you may find more information here:
Delay (defer) your State Pension
To pay shortfall of NICs I would check with the DWP that this will increase your UK state pension entitlement prior to paying.
More information can be found here Voluntary National Insurance:
Voluntary National Insurance : Gaps in your National Insurance record


 

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