Planning For Your Retirement?

[trastrick]

1 hour ago, cuttsie said:

Tight is right , so the saying in the furnace trade bricklayers goes, or was when Sheffield had hundreds of the white workers .

Mill furnace bricklayers were a diffrent breed from your house builder lot. It were a 'ospital job, like painting the Forth Bridge.

 

And they never got that permanent Trump tan! 

[cuttsie]

55 minutes ago, trastrick said:

Mill furnace bricklayers were a diffrent breed from your house builder lot. It were a 'ospital job, like painting the Forth Bridge.

 

And they never got that permanent Trump tan! 

We could work both red and white , But the white workers were never very good at red work ,. The tightness never left them .

Edited November 26, 2022 by cuttsie

[Victor Meldrew]

On 25/11/2022 at 04:35, Annie Bynnol said:

As this thread is entitled "Planning For Your Retirement?" I added to it because the expectation that 35 years of NI contributions means £185.15 pw full pension will be wrong for millions. 

 

The current State Pension for those now retiring is £185.15 per week and this maximum only applies if certain criteria are met. One of these criteria is whether your NI contributions included the extra 'contracted in' payment between 1978 and 2016.

Each years' contribution you paid is calculated as either 'contracted in' (suffix A on your old pay slip) or 'contracted  out(D or N)', if they are all in 'contracted in' years you will get the full amount, if there are 'contracted out' years you will get less.

 

Many thanks for this Annie. I had a feeling I was 'contracted out' during my early years of employment and confirmed this by finding an old P60 which showed a letter 'D'. 

 

Having looked at my state pension forecast I can see I'm due to receive a lesser amount. This is mostly due to having retired early so (since watching a recent Martin Lewis programme) I intend to make voluntary NI top up payments once I can find out how much I need to pay and where to pay it. There was a phone number shown on the Martin Lewis programme but thus far I've not been able to get through to it. I was on-hold for 30 mins the other day listening to the same message repeated over & over. So I think it might be best to write to them.

 

Martin Lewis makes quite a convincing argument for topping up, if you're planning on living for 3 years after you start drawing your pension - which I intend to! Here's the link for anyone who's interested Voluntary national insurance contributions

[El Cid]

You can claim NI years if you were caring for your own children or grandchildren.

[Victor Meldrew]

16 hours ago, El Cid said:

You can claim NI years if you were caring for your own children or grandchildren.

Thanks. Doesn't apply to me though.