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  • National insurance question

    As I am futurely to be unemplyed and I cant find any jobs I am either capable of or am interested in, my dad talked to me about national insurance.

    He said even if unemployed its best to pay national insurance so it wont mess up my pension in the future.
    Does anybody know how I go about this,who do I contact?
    https://folksy.com/shops/GrimmExhibition


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  • #2
    Not too sure on that maybe try the dreaded IR they are actually quite helpful (so they should be amount of money they take off us).

    Cheers.

    Lisa

    Bowed Over
    Handmade Dog Collar Accessories
    www.bowedover.co.uk

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    • #3
      There based in Newcastle and yes you can pay N.I direct.

      National Insurance Contributions Office
      Benton Park View
      Newcastle Upon Tyne
      NE98 1NG
      0845 915 5996

      Mon-Fri 8a.m to 8p.m
      Sat 8 a.m to 4 p.m

      Cherrs Janice
      www.freewebs.com/clipclophorseshoes

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      • #4
        Are you not better off these days to pay into a private pension? I thought they were going to get rid of state pensions altogether by the time I retired (2053 BTW)

        It also depends on how long you plan to stay unemployed for (and your current age I suppose), if you are going to be jobless for less than 12 months I would not bother doing anything (although I probably wouldn't listen to me either, I will probably end up penniless with only my beads to keep me warm)
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        • #5
          Seahorse don't worry about it... Remeber your self employed so your be paying that way too...

          And its a fact that you can top up your NI payments at the end of your work life... So lets say you are £1,000 sort when you reach "that" age then to get the full state pension you just pay £1,000 top up.. done!

          My mum had to do it as she didn't work enough years/pay enough
          .


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          • #6
            Thanks for the info.

            My mum said she has missed out on some pension money coz she didnt work for a while,(probably looking after her pesky children, how inconvenient we were and quite right the government should punish mothers).
            Il let her know about the top up.
            https://folksy.com/shops/GrimmExhibition


            http://poisonedapplecraftuk.blogspot.co.uk/

            Poisoned Apple Theatre - Handmade Crafts on Facebook

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            • #7
              I think most mothers who had the cheek to take time off work to have/look after kids either end up short or have to pay top-ups. Quite right too, I mean why shouldn't you be penalised for being a woman, I'm sure if men could have babies they'd still have the same rules right?

              I'm with Peebles in that I don't think I'll actually get a state pension when I retire so not too fussed about NI. I'm actually excempt at the mo due to some forms I filled in when I first became self-employed so haven't paid any for the last 12 months and can't say I'm too bothered. But then again I could be with Peebles in that we'll both end up old and penniless.
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              • #8
                Originally posted by nattynetty View Post
                I'm actually excempt at the mo due to some forms I filled in when I first became self-employed
                I remember that form, but took my time filling it in and got charged £28!!!!Its all filled in now tho.
                https://folksy.com/shops/GrimmExhibition


                http://poisonedapplecraftuk.blogspot.co.uk/

                Poisoned Apple Theatre - Handmade Crafts on Facebook

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                • #9
                  I know since looking it up that I will have to work 49 years to get a state pension!! arrrrrrrrrrrrrrrrr .

                  As a mother of 3 children, plus an ex army brat/wife who lived in Germany for 21 years (on and off............. 12 as an adult), there is no way I am going to reach that target!!

                  Like the idea of 'topping' up though! does anybody know if I can do that on a monthly basis as of now?

                  Pauline
                  Personalised Wedding Cake Toppers

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                  • #10
                    Originally posted by 0103media View Post
                    Seahorse don't worry about it... Remeber your self employed so your be paying that way too...


                    But Im not paying the IR anything yet.Will they hunt me down??
                    https://folksy.com/shops/GrimmExhibition


                    http://poisonedapplecraftuk.blogspot.co.uk/

                    Poisoned Apple Theatre - Handmade Crafts on Facebook

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                    • #11
                      They may hunt you down as it affects your rights to the free services such as NHS and also your state pension. If you go into Job Centre Plus they will tell you whats what - you get a certain length of time (I think 12 weeks) before things catch up with you.

                      But I would recommend paying contributions..... but then I'm a cautious person for things like that!!

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                      • #12
                        NI Contributions

                        If you are self employed you should be paying a couple of quid a week as class 2 contributions. At the end of the year, you calculate your overall position and pay class 4 contributions.

                        There is the "LEL" (Lower Earnings Limit) which just happens to be the same as the tax allowance (£5225 for 2007/08). You will pay 8% class 4 NI on earnings above that.

                        Class 4 is less than what you would pay as a PAYE person, and there are advantages to being self-employed anyway.

                        Be warned however. If you are self employed, you should register as such with HMRC within 3 months or face a £100 fine!

                        RH

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