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State Penion question

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I am 59 years old and was anticipating that in 7 years I could retire and claim my state pension on my husbands N.I contributions.

 

I have heard that the rules have now changed and I could end up with little or no pension at all.

 

I worked full time before I got married but that was 40 years ago...

I worked part time in between having the children, caring for my parents and now the grandchildren..

I work 16 hours now a week but I shall never be in a position to have enough NI contributions of my own and no funds to top it up.

 

I have Fibromyalgia and a fair few other health issues and struggle sometimes at work ...I really enjoy my job but don't think I could physically continue into my 70s..

My husband is a year younger than me so will retire later than me,

I am so confused with this pension rules and don't understand it all.

Any advise would be helpful

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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http://www.thisismoney.co.uk/money/experts/article-2899593/My-wife-never-paid-National-Insurance-contributions-retire-nothing.html

 

This article is a husband asking pretty much the same question on behalf of his wife

 

 

 

However, your wife is one of a generation of married women who stayed at home to look after children. In the past, these women would have been able to receive a payout based on their husband’s National Insurance Contributions (NICs). But for those retiring under the new system this is no longer automatically guaranteed.

 

Her first step is to get a state pension forecast at gov.uk/state-pension-statement or by calling 0845 3000 168.

 

Under the current system, married women who stayed at home have been able to receive a payout of their husband’s pension despite having paid little or no NICs.

 

Many married women who worked also fell into this group and paid a much lower rate known as the Married Women’s Stamp.

 

However, from next year this system will be scrapped. Everyone will be instead responsible for building up their own National Insurance record. You must have 35 years of NICs to qualify for the full amount and a minimum of ten years to receive any at all.

 

Your wife has been left in limbo.

 

The Government has put in place a temporary safety net for people like her. She will be entitled to receive 60 per cent of your pension under the new system.

 

But there is a caveat. She must have paid at least one year of lower-rate Married Women’s National Insurance in 35 years leading up to her state pension age.

 

Read more: http://www.thisismoney.co.uk/money/experts/article-2899593/My-wife-never-paid-National-Insurance-contributions-retire-nothing.html#ixzz3xthvr4i2

 

 

 

Have a read of these whilst you are waiting on those with more experience to respond.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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