How many years of National Insurance (NI) contributions and credits are needed for a full basic State Pension?
Until 6 April 2010, women needed 39 qualifying years of NI contributions and credits and men needed 44 qualifying years for a full basic State Pension. However, this changed for people retiring on or after 6 April 2010 such that now women and men need 30 qualifying years. How much NI do I need to have paid? In each tax year there is a minimum amount or ‘lower earnings limit’ that you have to be earning in order to make the right amount of NI contributions. The lower earnings limit is currently £97 a week, so a whole tax year is £97 x 52 weeks = £5,044. So if you have earned the equivalent of £5,044 within 20010/11, that year will usually be a qualifying year and will count towards the total qualifying years needed – 30 if you will reach State Pension age on or after 6 April 2010. What if carers don’t pay NI because they are not earning? Certain people are ‘credited’ with NI contributions. This means that a contribution is put on their record equal to the lower earnings limit in each we
Related Questions
- I will reach State Pension age after 6 April 2010. Do I still need to have credits / contributions for at least 25% of my working life to qualify for any basic State Pension?
- Does the State Pension forecast assume an individual will pay (or be credited with) full rate National Insurance contributions up to State Pension age?
- Can I pay additional National Insurance contributions to enhance my basic State Pension?
