had to check on my state pension, turns out I have 37 years contributions so I've gone 2 years over. You don't get any extra for that though.
Good job they count the years you were a student or on the dole or I'd be well shy!
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had to check on my state pension, turns out I have 37 years contributions so I've gone 2 years over. You don't get any extra for that though.
Good job they count the years you were a student or on the dole or I'd be well shy!
Yes, I was a student for seven years, but when I started work I paid in extra to give me an enhanced state pension. I also paid into a private pension scheme. Not only that, but I took voluntary redundancy which came with a generous payout. So overall I was able to comfortably 'retire' at age 57.
So you're covered for student years, employed years and unemployed years - must be pretty hard not to qualify.Quote:
Originally Posted by Macca
I think only if you opted out of NI contributions while self-employed. Or you were not working and too wealthy to claim benefits.Quote:
Originally Posted by Pigmy Pony
My neighbour is 66 and only gets a partial state pension, told me he was 4 years shy on contributions and it would cost him 7 grand to have made them up which he hasn't got.
I don't know how he is 4 years short. Known him since he was 30 and he's never been self-employed. He was in the Civil Service for about 20 years I think.
I retired at 57 as well Barry - I suspect you beat me to it though, as it wasn't until November of my retirement year :)Quote:
Originally Posted by Barry
I worked a total of 50 years (30 years employed, then 20 years self-employed, with a three-week unemployed bit in the middle). The first few years self employed I didn't pay any NI contributions - I did end up with full pension, though I did worry about it for a while.
Only 3 weeks unemployed? I had a full two years, wonderful times. Well, mostly. Plus 5 years at university. I was 25 before I was unfortunate enough to get a proper job. :DQuote:
Originally Posted by Pigmy Pony
I'm 57, and no chance of retiring just yet! Well, I could if we downsized the house and sold the kids, but they're past the cute stage now and I don't think you get as much for teenagers!
I did used to dread the thought of retiring, as I am not sure I could cope with the spare time, but the older I get the more appealing it becomes! I am sure there would be plenty of stuff around the house I could procrastinate over whilst drinking coffee...
(And I have never been unemployed in 41 years - I did quit one job in my early 20's, but went straight to an agency and did temping for a few months until I found something permanent.)
For the first couple of weeks after retiring (at 57), I didn't know what to do with all the free time. OK I got out of bed a bit later than I had when working, but that still left a lot of time. I would deliberately not do a full shopping so as to give me an excuse to go out again! Daft I know.Quote:
Originally Posted by Alex_UK
Eventually I found things to do: gardening; redecorating the house, going up to Lonfon to visit the museums and art galleries - and of course joining AoS. :)