Scared about lack of pension contributions. Is there anything I can do?

Delila

You’re missing my point Callistemon. There is objective, positive advice, such as that given by MargotLedbetter, which includes the potential benefit of looking for better-paid work, but to imply criticism and blame for what some others see as poor lifestyle choices, is another matter altogether.

There's no blame but you can't expect to build a pension when working sporadically on a zero-hours contract. Fortunately the OP has realised this in the nick of time.

If the OP really doesn't want to leave her current zero-hours job she could take on extra work to top up. My nephew's doing a PhD at the moment and has all sorts of jobs on the go. Round here there are adverts for jobs in small shops everywhere. How about a few hours behind the counter in a local cafe or corner shop at weekends?

It's about getting out of your comfy rut and taking control and the OP sounds as if she's prepared to do that. I wish her luck. Waking up to the reality is never comfortable.

I'm not sure this thread needs to be active anymore

Probably right.

You’re missing my point Callistemon. There is objective, positive advice, such as that given by MargotLedbetter, which includes the potential benefit of looking for better-paid work, but to imply criticism and blame for what some others see as poor lifestyle choices, is another matter altogether.

Delila

I don’t think it’s the business of people on here to suggest someone get’s a better paid job. She’s given her reasons for staying in her present employment (although I don’t see why she should have to justify or explain that on here), so advice should simply point her in the direction of sources of help and information.

But she is worried about her state pension being inadequate .......
Or am I missing the point?

Can't believe the aggression the OP's receiving on here.

OP, the solution lies in your hands. It sounds as if you've been cruising for the last 13 years, doing a few hours when your employer needed you and enjoying the time off when you weren't required. Now it's time to take control and get a proper job.

You need 30 years of NI contributions to qualify for the full state pension of £185 a week. You've already got 17 years of NICs on the clock, and you're still only 52, so a combination of a better, permanent job with regular hours and salary and buying back six years of NICs (they only allow you six and the clock's ticking on that) should mean you'll be sorted by 60.

It costs around £800 to buy one year's back-dated NIC, but that £800 could be worth around £5000 over the course of your retirement according to Martin Lewis. Spending £4,800 on your six backdated NICs could be worth £30,000 over the long term — so a good investment.

www.moneysavingexpert.com/savings/voluntary-national-insurance-contributions/

You are clearly literate and you've managed to post an image on here, so I'd guess you have the computer skills required for many jobs. Go to an agency and tell them you're looking for a permanent, full-time job. Hold it down for the next few years and use the extra money you earn to buy back six years of contributions. If you work for seven years and attain your 30-years NICs then you can rest easy that you'll be getting the full state pension.

I'm glad your husband's putting you on the deeds etc, but women really do need to start taking financial responsibility for themselves and not expecting to live off others' pensions and equity.

You can do this — and don't let your husband deter you by saying that his money will support you in your later years. You need to be able to look after yourself if it turns out he's wrong or he changes his mind. Good luck.

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BlushingSheep

Norah

May I ask if you are on the deeds yet?

I believe you said you're not on the mortgage, but are in Hs will. I'm on deeds, in wills and trusts, but wills can be changed if I'm not mistaken.

I'd be on the deeds today, soonest possible.

The rest, I have very little understanding of, no patience to figure out. I'd call for help to sources other posters told you of.

Not on the deeds quite yet, no.
Still looking at forms and fees and whatnot.

My only thought pertaining to this thread - "deeds protect ownership" - would put getting on the deed number one on my priority list.

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I'm not sure this thread needs to be active anymore.

Thank you for giving many of us much food for thought here ...

Serendipity22

Growstuff i am not sure of all the ins and outs of it all. I understand also, that if for any reason people have had to make a claim for any benefits, a stamp is also paid towards their pension, once again, i dont know the full ins and outs. All this was told to us ( myself and DH ) whilst on a holiday !

I'm not sure if that's true of any benefits, but it is true for unemployment-related benefits.

If a person is signed on for Universal Credit (or JSA), he/she is allowed to work, but the benefit is reduced. I can't remember what the cut off is, but it's quite low. The rules have just been tightened and claimants have to show that they are looking for higher paid work. However, the "stamp" is paid throughout the whole process and counts towards pensions, but not other benefits.

Growstuff i am not sure of all the ins and outs of it all. I understand also, that if for any reason people have had to make a claim for any benefits, a stamp is also paid towards their pension, once again, i dont know the full ins and outs. All this was told to us ( myself and DH ) whilst on a holiday !

Teacheranne

BlushingSheep, I think you are doing the right thing.

You have taken the initiative and got your pension forecast and are aware of what you need to do to improve your pension.

I would also be waiting until probate so you know exactly what you will inherit and then think about your options, what to spend now and what to save.

You have said that you will seek advice at that point which again seems the best thing to do. They can offer options that you might not have considered yet.

You are weighing up options around strengthening your position re your house and when you are ready, you and your partner can process any paperwork.

My only advice would be to consider changing your job to earn more if your mental health would allow it. A job with fixed hours at minimum wage would offer you more security and pay NI contributions for the rest of your working life to maximise your SP.

Good luck

Thank you.

I think I know what I need to do now, and where I need to go to find out what to do next.

You're right about probate - I have a rough idea, but after solicitor's fees and whatnot, who knows? Losing your parents in such a short space of time certainly makes you think and reassess.

I am planning to look at my work options and see what I might be able to do. It's a shame there are no new opportunities at my current place of work. That would kill two birds with one stone, really.

I'm not sure this thread needs to be active anymore.

Thanks to everyone who was kind and gave me helpful advice. I appreciate it.

BlushingSheep, I think you are doing the right thing.

You have taken the initiative and got your pension forecast and are aware of what you need to do to improve your pension.

I would also be waiting until probate so you know exactly what you will inherit and then think about your options, what to spend now and what to save.

You have said that you will seek advice at that point which again seems the best thing to do. They can offer options that you might not have considered yet.

You are weighing up options around strengthening your position re your house and when you are ready, you and your partner can process any paperwork.

My only advice would be to consider changing your job to earn more if your mental health would allow it. A job with fixed hours at minimum wage would offer you more security and pay NI contributions for the rest of your working life to maximise your SP.

Good luck

Norah

May I ask if you are on the deeds yet?

I believe you said you're not on the mortgage, but are in Hs will. I'm on deeds, in wills and trusts, but wills can be changed if I'm not mistaken.

I'd be on the deeds today, soonest possible.

The rest, I have very little understanding of, no patience to figure out. I'd call for help to sources other posters told you of.

Not on the deeds quite yet, no.
Still looking at forms and fees and whatnot.

I don’t think it’s the business of people on here to suggest someone get’s a better paid job. She’s given her reasons for staying in her present employment (although I don’t see why she should have to justify or explain that on here), so advice should simply point her in the direction of sources of help and information.

Callistemon21

^Suddenly it's all got a bit serious^

So you need to concentrate your mind.

You do need to find a better paid job and pay NI contributions and it would be best to use some of the money from the five figure sum to buy extra years of contributions.
You might even be able to save a little too.

There are a lot of things on the list to spend it on, all of which are because we're fairly poor on a month to month basis
All the more reason to get a better paid job I would think.

"So you need to concentrate your mind."

Yes, which is what I'm doing.

"it would be best to use some of the money from the five figure sum to buy extra years of contributions.
You might even be able to save a little too."

That's the plan.

ixion

LilyGransnet

Hi all

We think we made a mistake here so we're rowing back and undeleting the thread.

Well, I guess that the Mods had their misgivings too at the outset.

Yes, they thought I was someone else.

In reference to my partner's job, he gets a reasonable salary but there are other factors in play which means that the household finances are not a reflection of that. They are not relevant here and I only bring this up to say that the DH is paying his full quota of tax and NI.

Suddenly it's all got a bit serious

So you need to concentrate your mind.

You do need to find a better paid job and pay NI contributions and it would be best to use some of the money from the five figure sum to buy extra years of contributions.
You might even be able to save a little too.

There are a lot of things on the list to spend it on, all of which are because we're fairly poor on a month to month basis
All the more reason to get a better paid job I would think.

Serendipity22

If you have children, a stamp is paid for you because of the years you have not worked or p/t work..

You can find out what pension you will receive online....

We had 4 children in very spread ages. I cared for them at home and didn't work outside of our home in their combined 40 years living at home. However, I believe BlushingSheep allowed she had no children.

No, I can’t see any logic, unless it is being suggested that there should be a minimum amount that one spouse should have to pay in contributions before the other can opt out of making his or her own?

Doodledog

No, we won't, and that's fine. I would, however, be interested to know what it is that you see as the difference? You are right that it probably won't convince me, but I just don't understand why it is ok for someone in one set of circumstances not to work, but not ok for someone else to choose a low paid job.
Neither is contributing financially, and both are taking from the collective purse, in the form of education, health and so on.

I'm not being difficult - I just can't follow the logic.

There isn't any logic, so I wouldn't fret about it.

What about people who have inherited money and/or are property which they let out and don't need to work? They're still eligible to use the NHS.

I’m simply saying that in one case the wife does not work outside the home due to caring responsibilities but the husband is making a good contribution to the collective purse. In the other the wife apparently has no caring responsibilities and chooses to undertake low paid and irregular work whilst the husband is evidently not well paid and is thus making a far smaller contribution. That choice not to undertake better paid work whilst having no caring responsibilities is a luxury for which the rest of pay.

No, we won't, and that's fine. I would, however, be interested to know what it is that you see as the difference? You are right that it probably won't convince me, but I just don't understand why it is ok for someone in one set of circumstances not to work, but not ok for someone else to choose a low paid job.
Neither is contributing financially, and both are taking from the collective purse, in the form of education, health and so on.

I'm not being difficult - I just can't follow the logic.