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

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

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

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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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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.

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?

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.

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

Probably right.

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 wish her luck too. She’s still comparitively young and has time on her side.

MargotLedbetter

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.

Unfortunately, having a number of part-time jobs means that no single employer would pay National Insurance. The op's pension provision would not be improved. This affects a number of people working two or three jobs to make ends meet. Unfortunately, they don't realise they're not being credited for state pension. People really should check their records on the Government Gateway site as soon as possible.

MargotLedbetter I'm pretty sure you now need 35 years of contributions for a full state pension.

And her pension age will be 67, not 60.

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MargotLedbetter

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.

Yes, MargotLedbetter, that is just it.
She needs to get out of her comfort zone, it's not always easy.

I was cheering her on, she's realised that an impoverished old age is not much fun especially with bills increasing all the time.

You could buy a few Premium Bonds with some of your inheritance, BlushingSheep - you never know, you might win £1m!
Spend some, save some ?

30 years for the Basic State Pension according to this:
www.gov.uk/state-pension/eligibility

35 years for the New State Pension here:
www.gov.uk/new-state-pension/how-its-calculated

Is it any wonder it's difficult to state anything categorically?!

I was thinking more about doing a second job as a way of raising the £4,800 required to buy those six years. A couple of shifts in Aldi each week for a year would do it.

How much basic State Pension you get depends on your National Insurance record.
The full basic State Pension is £141.85 per week.

You’re eligible for the basic State Pension if you were born before:
6 April 1951 if you’re a man
6 April 1953 if you’re a woman

However:
The full new State Pension is £185.15 per week.

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growstuff

MargotLedbetter I'm pretty sure you now need 35 years of contributions for a full state pension.

You do.

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MargotLedbetter

Germanshepherdsmum

The OP is obviously computer literate. If they are genuine (which I still doubt), all the information is readily to hand online.

I have no idea why you're so cynical. When I went to a Waspi Women meeting a few years ago I encountered a worrying number of women who were unaware of NICs and the date their state pension would kick in.

I sat next to a woman who'd assumed that because she worked part-time in a university cafeteria for years she'd be retiring at 60 on a full state pension. She handed in her notice when she turned 60 and only when nothing happened with her pension did she investigate and discover that not only would she not qualify for the full state pension but she still had several years to go before she was eligible for anything. She wasn't stupid or incompetent, she'd just assumed that everyone got a pension at 60.

I do find myself a bit torn over this.
If you assume, on no basis whatsoever that you will get a State Pension ate age 60, then what are you? Stupid and incompetent are harsh words, so would you say 'not really on the ball' / 'had difficulty understanding' / 'didn't really take any notice' ?

If I, for example, take a car out on the road without insurance, because I didn't realise you needed it, am I stupid and incompetent or what?

I do realise that some of this results from historical misunderstandings, and I completely condemn the failure of the Government to write to all Waspi Women in order to make their position clear.
I have asked some if they didn't see the leaflets and posters, or read / hear articles about it. The usual response is 'not really'.

But are we to make excuses for women because they didn't bother their little heads about their pensions?

To be clear, I am not criticising the small number of women who in order to provide for their families, felt they couldn't afford to pay in to pensions. But I do wonder what on earth women such as this were actually thinking?

This is what happens when people don’t read the papers Nannarose. If someone can read, there really is no excuse for not doing so.

I've reported this thread.
Just so you all know I'm a "snitch.

yes there are problems concerning this thread but the topic is actually a useful one as there are women who had buried their heads in the sand re their nat insurance contributions, as though there is a magic money tree which will provide, no matter what

Better late than never to take control of personal finances. We all grow old and for some it is a shock and a reality check about their finances in old age