Retirement

The purple book applies to teachers and the green book to local authority staff, most academies only follow the pay scales not the green book T&C etc
The purple book was applied to local authority staff before the green book came in. The grey book is the book that applies to teachers
 
I just wondered what age technicians on this forum are planning to hang up their lab coats for the last time? Will you wait until state retirement age?
I can claim my LA pension from 2064, so until then I suppose :rolleyes:
 
Ok, so I've just had a curve ball thrown re retirement. Although should be ok I just need to get advice.
Someone told me yesterday that if you retire early, that is before state pension age, you still need to keep paying NI contributions or your state pension will gradually go down, even if you have paid in over 35 years (43 years here)
I have spoken to a couple of retired friends & they said they don't pay any & their state pension forecast is still fine.
Someone else said they thought new rules meant you paid NI until state age.
Sigh.
At £875 per year to 'buy' years, I guess I'll have to start saving for that too...out of that money I get for hiring out my unicorns to children's parties & my flying pig delivery service :(
 
Ok, so I've just had a curve ball thrown re retirement. Although should be ok I just need to get advice.
Someone told me yesterday that if you retire early, that is before state pension age, you still need to keep paying NI contributions or your state pension will gradually go down, even if you have paid in over 35 years (43 years here)
I have spoken to a couple of retired friends & they said they don't pay any & their state pension forecast is still fine.
Someone else said they thought new rules meant you paid NI until state age.
Sigh.
At £875 per year to 'buy' years, I guess I'll have to start saving for that too...out of that money I get for hiring out my unicorns to children's parties & my flying pig delivery service :(
Does it not depend on how many qualifying years you have worked? Say it's 39 years you have worked and to get full state pension you need to have contributed for 35, then you need pay no more NI. Something like that. Check out the GOV site for state pension.
 
You'll usually need at least 10 qualifying years on your National Insurance record to get any State Pension. You'll need 35 qualifying years to get the full new State Pension. You'll get a proportion of the new State Pension if you have between 10 and 35 qualifying years.
You may want to pay voluntary contributions because: you're close to State Pension age and do not have enough qualifying years to get the full State Pension. you know you will not be able to get the qualifying years you need to get the full State Pension during your working life.

I've just got this off Google.
Ok, so I've just had a curve ball thrown re retirement. Although should be ok I just need to get advice.
Someone told me yesterday that if you retire early, that is before state pension age, you still need to keep paying NI contributions or your state pension will gradually go down, even if you have paid in over 35 years (43 years here)
I have spoken to a couple of retired friends & they said they don't pay any & their state pension forecast is still fine.
Someone else said they thought new rules meant you paid NI until state age.
Sigh.
At £875 per year to 'buy' years, I guess I'll have to start saving for that too...out of that money I get for hiring out my unicorns to children's parties & my flying pig delivery service :(

So I don't think what you were told is quite true.
 
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Whilst still working, I claimed a pension when I got to 60 (5 years ago).
I don't pay any NI on that pension just income tax at BR.
I think from 2023 if you're still working post retirement age then you will be paying NI - if i remember this is related to Health and Social Care levy

Edit,...after quick google look likes this levy has been cancelled
 
You'll usually need at least 10 qualifying years on your National Insurance record to get any State Pension. You'll need 35 qualifying years to get the full new State Pension. You'll get a proportion of the new State Pension if you have between 10 and 35 qualifying years.
You may want to pay voluntary contributions because: you're close to State Pension age and do not have enough qualifying years to get the full State Pension. you know you will not be able to get the qualifying years you need to get the full State Pension during your working life.

I've just got this off Google.


So I don't think what you were told is quite true.
I didn't think it sounded right, I was googling last night, but pension stuff has a million & one different opinions/suggestions!
It's almost as though they don't want us to retire! ;)
 
I didn't think it sounded right, I was googling last night, but pension stuff has a million & one different opinions/suggestions!
It's almost as though they don't want us to retire! ;)
I think you have hit the nail on the head ! They do not want us to retire early , unless you are super rich and wealthy !!

Well I suppose they need the extra time to visit their second homes in UK and third homes in Europe !!
 
There's a thing you can do on the government website that tells you your NI contribution history and how long you have to various benefits.
 
There's a thing you can do on the government website that tells you your NI contribution history and how long you have to various benefits.
Yes I've done that & had forecast. It was just someone telling me yesterday that rules have changed, threw spanner in the works.
 
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