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In order to qualify for the State pension you have to have made full NIC contributions for a number of years. Is this correct? If so, how many years? I believe the figure is 37 years.

 

I have long been self-employed, low income, unmarried. I am fairly sure I have less than six years of contributions and will not achieve that State pension requirement by the time I reach retirement age, not even close. So, with regard to pensions, is there any point in making voluntary contributions?

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youi can ask the DWP for a pension forecast and then if your pay qualifies them you will add some to that figure before you retire anyway. It may be wise to stick a few quid away in a private pension, you get any capital gain tax free, you get tax relief on what you pay in regardless of whether the money was taxed in the first place and you can withdraw the funds as a lump sum up to the age of 75.

s for voluntary contributions- they normally cost you more than you get back in benefits so look up the figures and decide for yourself whether to go with the personal pension or the top up but what you shouldnt do is nothing

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