UK State Pensions – What Are Qualifying Years? Don’t Miss The Lowest Cost Pension Investment For You

  • Home
  • /
  • Blog
  • /
  • UK State Pensions – What Are Qualifying Years? Don’t Miss The Lowest Cost Pension Investment For You

January 11, 2022 in UK State Pensions

minutes remaining

Is this post useful?

Share it with your friends using the buttons below

HMRC Department of work and pensions

Gaps in your National Insurance record?

It is not unusual to have gaps in your national insurance contributions, particularly if you are female or self-employed. There are various reasons why gaps can form:

  • You stop work/ go part time to raise children. You should make a claim for National Insurance Credits
  • Your employed but had low earnings
  • Your unemployed and were not claiming benefits
  • Self-employed but did not pay contributions because of small profits
  • Living or working outside the UK

Gaps can mean you will not have enough years of National Insurance contributions to either:

All is not lost, you should be able to pay voluntary contributions to fill in any missing years. To qualify for state pensions you need to have 10 -35 years of “qualifying years”. The more years you have bigger the payout at retirement age.

For those who stop work to raise children or to be long term unpaid carers, it is VERY important that you make a claim through the National Insurance Credits scheme as this will top up your qualifying years while you carry out this important work. Please remind your friends and family with children.

Check your record for gaps

Check your National Insurance record to find out:

  • if you have any gaps
  • if you’re eligible to pay voluntary contributions
  • how much it will cost

You may also be eligible for National Insurance credits if you claim benefits because you cannot work, are unemployed or caring for someone full time.

Doing our bit...

40% of the internet's carbon costs comes from keeping data servers cold. We have deliberately selected a server partner who uses green energy and carbon off-setting to reduce our impact on the environment. Small changes add up and this is just one of the choices we made to reduce our carbon footprint.

This is not Financial Advice

We're a website of UK financial planning ideas. Not all the ideas will be the right choice for everyone. Please use the information at your own risk and we do not accept liability if things go wrong. We strongly recommend that anyone making a long term financial investment plan does so with the help of a Regulated Financial Advisor. A local advisor can be found here - Regulated Financial Advice

This website's information does not constitute financial advice, always do your own research to ensure it's right for your specific circumstances.

We often link to other websites and provide advertising space for 3rd parties, but we can not be responsible for their content.