Business & Finance

national insurance

having just reached 60 and with more than 44 years contributions do I still have to pay the full stamp as it were

ianqisam Tue 02/09/08 21:49

<< Previous

Next >>

Subscribe to question

Post an Answer

Important Notice
The information provided by The AnswerBank does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial advisor prior to entering into any binding contracts. The AnswerBank terms and conditions of use apply.

Ethel
Wed 03/09/08
00:16

I assume you are a man, so yes, you pay full stamp until you are 65.

buildersmate
Wed 03/09/08
10:23

Yes, it is one of those 'equalising' anomalies.
If you didn't have enough qualifying years but could afford to give up working, men over 60 get credited with qualifying years, so the number of qualifying years still keeps racking up as you don't work.
If you do have the necessary 44 years (for a male), you don't get a higher Basic State Pension at age 65 for accruing more qualifying years.
And finally the number of qualifying years required for the full basic State Pension gets slashed to 30 for those retiring at state pension age after April 2010 anyway.
I suppose the line had to be drawn somewhere.

Post an Answer

Submit the above question and answers

add to del.icio.us	add to digg	add to furl
add to reddit	add to Technorati	add to Blinklist
add to StumbleUpon	add to squidoo	add to ma.gnolia
add to Cocomment	add to Netscape	add to Fark