There have been several changes to the state pension system in recent years. This article will explain the current rules and hopefully alert to pitfalls which may result in lower amounts being received when reaching state pension age.
There are a number of different ways of obtaining a qualifying year for state pension purposes:
A self employed person normally pays Class 4 NIC’s as well as Class 2, but these do not help qualify for state pension or any other benefits.
It is fair to say that few people can live comfortably in retirement solely on the state pension these days. However, it is still important to take care that you are paying sufficient NIC’s to qualify for a full state pension. If in doubt you should contact the Department of Work and Pensions to ask for a pension forecast.
For more information about pensions, call John Hunt on 01387 20955900 or email at email@example.comEmail Douglas
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