Help with pension question please.

[Kathyan]

I will be 60 years old in 2010. My husband is 7 years younger than me. I don't have enough NI contributions to claim the full state pension. Will I be able to claim pension credit to make up the difference or will my husband's wages be taken into consideration?

[buildersmate]

When in 2010 Kathyan?
Do you realise that from April 2010 the age for retirement for women starts rising - but (maybe criticality for you) the number of years contributions for full state basic pension falls (for women) from 39 to 30.

[Kathyan]

30th March. I think I just come under the cut off date?

[buildersmate]

On or after the 6 April 1950 is the key birth date.

Bizarre when one thinks about it. Whilst the date of retirement for women moves progressively out to age 65 over several years, the date at which the ENTITLEMENT to a full pension moves from 39 yrs to 30 yrs contribution at the stroke of one day. I guess Government will say that there has been 10+ yrs warning of this / many working women retiring have the 39yrs of contributions anyway.

Sorry, I don't know the answer to your original question.

[Yorky Lass]

Pension Credit is means tested, so yes, I'm afraid your husband's wage will be taken into consideration. As will any savings.

How many contributions are you short? Can you maybe pay for missing ones.

[Kathyan]

I have quite a lot missing. I'm of the old school and think that if you have children, then you stay at home to look after them! It's just as well he's younger than me, he can keep working to provide for me! (gosh is that old fashioned?)

[Yorky Lass]

Have you had a actual pension forecast ? if you have been receiving child benefit while looking after your children you will be credited with home responsibilities which will add to your contribution years.

Try here
http://www.thepensionservice.gov.uk/resourcece ntre/e-services/home.asp

[sara3]

pension credits is means tested, just like income support, so yes, your partner's income/savings will be taken into account.

[buildersmate]

Kathyan - just as Yorky Lass says - you get NI credits for every tax year you had any child under the age of 16 - I assumed you know that - that's 16 years of credits out of the 39 you require, at least - more if you had 2 or more children.

[zebra]

Yes make sure you check your Home Responsibilites Protection years, any years you didn't work but had a Child Benefit/Family Allowance paid to you for any children/dependants.

[zebra]

You were lucky enough to be '' old school'' then, my mother in law would be 84 & she worked whilst children @ school. Always there for the kids but still worked, its better all round.
A woman who just started as a dinner lady @ my childrens school only did it because her daughter kept asking her why she didn't go to work?

She now only does lunch times but her daughter is really proud that her Mum is working.

[THECORBYLOON]

You don't get NI Credits for HRP, not at the momeny anyway. The number of Qualifying years required for a full pension is reduced for each full year of HRP. It may sound the same but it isn't. For example
If you needed 39 years NI contributions for a full pension and had 10 years worth plus 16 years HRP the percentage is 10/23 which come to 38%. It won't be 26/39 which comes to 67%..

[Kathyan]

Yes I have had a forecast and it's not much! My husband was quite happy for me not to work. I don't see a problem with that, but other people obviously do!

[Yorky Lass]

I can't see the problem with you not working, it was your choice and as you say everyone was happy. Goodness knows why you received the posting you are refering to.

Sorry if I misled you about HRP it was the way I phrased it, you can always rely on Thecorbyloon to be spot on.

[themas]

Have you been offered by the Pension Service voluntary contributions to make up some of the lost years? If not, contact them about it - you would have to pay a lump sum up front but it is generally worth it if you survive for 3 or 4 years after pension age (& I hope you go on a lot longer than that!)