Top up your pension contribution

[JohnD]

(this is from Martin's Money Tips)
If you haven't yet got, and don't expect to have, enough contributions for the full pension, you can pay-in to buy backdated years.

See http://www.moneysavingexpert.com/reclaim/increase-state-pensions
"Top up your state pension. On 6 April the full state pension rises £4.50 to £102.15. To get the full amount, you must have paid enough National Insurance. Whether you've already retired or are close, buying missed NI years may boost future payouts; applying by 5 April makes it cheaper and could mean a rebate. Full guide with calc in Pension Top Ups."

The return on money paid in can be amazingly good

It doesn't apply to me. I'm not as old as you think.

 

[merlin50]

that man talks a load of rubbish, the less you pay in the more you get out.

 

[big-all]

that man talks a load of rubbish, the less you pay in the more you get out.

keep in mind you only need 30 years worth so if you have say 25 years with 3 years and 7 months to go till retirement you only need 1 year 6 months worth off contributions to catch up [1 extra payment to make sure ]

 

[JohnD]

30 years contributions for a man now and in future, but it was 45 years for those retiring up to and including April last year

Obviously women used to be allowed to pay in for less and to draw out for more

 

[ellal]

Since the UK is bankrupt, anyone paying in is p*ssing in a leaking pot!

Do yourselves a favour and get your own retirement plan!