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I am 52 years old and was made redundant at the end of Aug…

I am 52 years old...
I am 52 years old and was made redundant at the end of Aug 1012 and am unemployed but receive a company pension of +/- £1000 per month. Should I be paying national insurance contributions and if so how do I make arrangements to have the amounts
deducted
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Answered in 42 minutes by:
4/11/2013
Sam
Sam, Accountant
Category: UK Tax
Satisfied Customers: 14,215
Experience: 26 HMRC expertise, PAYE, Self Assessment ,Residency, Capital Gains, CIS ask for Sam Tax
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Hi

 

Thanks for your question

 

With the amount of years of contributions to qualify for a full state pension, having reduced to 30 years, it may well be that, if you have achieved this, that there is no need to worry about keeping your contributions up to date. (for example if you started work when you were 16 - then you already would have achieved 30 years worth of contributions at age 46)

If you are not sure how many full years that you have contributed, then you can request a statement and telephone 0845 3000 168

 

 

However, there is no requirement for you to pay National Insurance with your present circumstances, unless you wish to, and if this is the case, then you would need to set up Voluntary Class 3 Contributions, through the completion of the form in leaflet CA5603 - link here http://www.hmrc.gov.uk/nic/ca5603.pdf Or on the telephone number advised above you can set them up over the telephone.

These will cost £13.55 a week

 

Feel free to ask any follow up questions, but if you take the trouble to rate the level of service you have been provided with, it would be appreciated, as this ensures I am paid. Any feedback and/or bonus are always most welcome.

 

Thanks


Sam

 

Sam
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