Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.
@Susanne-zuku
9 ай бұрын
@Christina-Gisela Alice Marie Coraggio her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
@carlrobertsifa
9 ай бұрын
Absolutely.
@caroleharding86
6 ай бұрын
Àa@Christina-Gisela
@leesteggles6367
Жыл бұрын
Those of us who have paid in aren't intitled. 5hose who haven't paid in are more intitled.
@brassj67
7 ай бұрын
I had 25 years of contributions before moving to Canada 16 years ago when you only needed 30 full years to get a full state pension. They increased that to 35 years in 2016 so i was now 10 years short. I paid 10 years of voluntary class 2 contributions and found that I was still not eligible for a full pension because i was contracted out for the last 6 years before emigrating to Canada. I have paid another 2 years voluntary contributions since then so now have 37 full years. Looks like I need to contribute another 4 full years. I have 11 years left to pay until I reach 65. I think contracting out was a big mistake.
@carlrobertsifa
7 ай бұрын
Sounds like they have made it very complicated for you!
@Youssiflagrosse
6 ай бұрын
Hi, we're also in Canada. My wife is from the UK. She's got 30 years in and could pay a class 3 voluntary for 5 years worth to make the full 35 years. According to her paperwork. (I do not believe she can do the class 2 because she doesn't work in the UK anymore). Here's my question, do you know if she can withdraw earlier than at 67 years old with less per month/year? If so, could you share any links to that effect? We're just a few years from retirement and I'm trying to figure all this out. Thanks
@risenshine2783
3 ай бұрын
Well it wasnt until 2016, and it is theft, we werent to,d what would happen all our working lives, this sudden change of rules..noone gave us advice about contracting out or not, in fact we were all to,d it was the best thing..missold actually,
@risenshine2783
3 ай бұрын
@@Youssiflagrossei am pretty sure you cant unless you have a terminal illness
@josephodonnell1212
2 ай бұрын
I worked as a Civil Servannt for 31y, 306 d. I had no say in whether I was in or out.
@carlrobertsifa
2 ай бұрын
I think a lot of people were in the same boat.
@timeparty718
Жыл бұрын
The DWP are quite sneaky ... I had 36 years full contributions, but now only have a reduced basic state pension, but WHY so? ... Reason, I retired early at 60 and of course waited to 65 for my basic state pension (note: no SERPS, I was contracted out), however the minimum of 30 years NIC needed for a full basic state pension only applies to the LAST 30 years up to age 65 ! ... hence, my non-contribution from age 60 to 65 reduced my qualifying years from 30 to 25. Hence I received a reduced pension, even though throughout my life I had 36 years of full NIC ... so be careful out there! Note; I could top-up to a full basic state pension (by paying £3000+) but crunching the numbers proved there to be no profitable gain until over the age of 73 and beyond, so I passed on that offer.
@davewolfy2906
2 ай бұрын
That is glum.
@wharpblast264
3 ай бұрын
If you are close to State Pension age, suggest you get an estimate now. Once you get past State Pension age the HMRC website just says "You reached State Pension age on ...." no money values. NI history is still provided and you can still pay additional NI.
@carlrobertsifa
3 ай бұрын
Good tip.
@aldfort5781
Жыл бұрын
I paid 35+ years, a lot of those years were "contracted out" I got the lower figure, in fact the lowest figure they could work out. My spouse gets £100 more than I do every 4 weeks.
@Sean006
Жыл бұрын
The video states that you can only pay NI contributions for the last 6 years.....this isn't currently the case. You can backdate payments up to 2006 (16 years) but that is coming to an end on 31st July 2023. From that date you will be limited to 6 years backdated NI contribution payments.
@carlrobertsifa
Жыл бұрын
That's right Sean. Spot on
@Letskeepthingsreal
Жыл бұрын
No it’s not, it’s now July 2025
@johnstacey8250
5 ай бұрын
I didn't find this useful , you said paying contributions 'might' be a good idea. So , it may also not be necessary , I don't know what " contracted out " means.
@oilburner225
Жыл бұрын
Not sure why you have chosen 35 years ? Most of us have worked from the ages of 15 to the age of 65 yet receive nothing like £179 a week despite not having any gaps. My only time I had off was a week in the 1970’s when I was sick but even then my contributions were paid by my employer (though no wages for that week). As for ‘topping up’, I would have thought 50 years of full time work would have paid for that?
@frasermetcalfe7032
Жыл бұрын
i cant make sense of your statement i like you worked from 1976 onwards i was also contracted out for 5 yrs private pension. maybe you were contracted out too,but it is still possible to fet full uk state pension
@user-ro8mx7yf1d
Жыл бұрын
Great explanation thank you. How do I find out if I paid into SERPS?
@jonshadow4052
6 ай бұрын
I retired last April, so I get the new state pension , but no pension credits allowed 'so lost dental care.
@davewolfy2906
2 ай бұрын
I was contracted out, then back in. I had no choice in the matter. I work in the public sector if that is relevent.
@carlrobertsifa
2 ай бұрын
They will say that you should have received an equivalent benefit into your workplace pension. Whether that works out to be the case is hard to say.
@user-yq3nu5hd6n
2 ай бұрын
Yes i got caught with this opt out I think am worst off Less state pension Company pension more tax What was the idea for this??? Just retired now July Ps My proper pension my children for life.......
@carlrobertsifa
2 ай бұрын
I like the idea of your children being your pension! Not heard that before 😁
@user-yq3nu5hd6n
2 ай бұрын
@@carlrobertsifa I. Meant My son and daughter have done well in there careers They always supporting me and my wife financial And I don't ask for it Don't worry am doing aell OK I didn't get the full state pension after 43 years My company pension Very good 34 years Remember back in my time Company pension didn't start until age 25 Sorry I didn't explain properly Thanks Ps We had the best golden years back then 1970 /80 90 When jobs were door to door When you can house like sweets especially 1970/80 When England was great When England had everything Ps I worked for a company Johnson matthy. 1974 Gobal in climate products Back then World was not ready. The company had the vision check out today Great company Especially the pension Thanks for your time Great videos you make Good news Both party's keeping the triple lock plus Suppose more for the company pension tax Alway a catch Have a lovely life style Your Street wise tal.........
@gordonhancock5524
21 күн бұрын
Can you help I am 65 years old and have paid 45 years of N.I. contributions(mainly on the top band class 1) I took early retirement at 61 so never claimed for anything but I am due for my state pension this year but I have been informed by HMRC that I still need to pay 4 more years £3328 to qualify for full state pension a diffference of £20 considering that you need 35 years to qualify What should I do?
@davidhathaway8271
Жыл бұрын
Many thanks Carl lots of useful information that points me in the right direction.
@carlrobertsifa
Жыл бұрын
Thanks for the feedback David.
@thehutx
Жыл бұрын
my forcast says il get full pention. but i was opted out back in the day. so will tbey still deduced money off. even tho it says ill get full pention.
@vyvfrancis9526
Жыл бұрын
Great explanation, thank you
@carlrobertsifa
Жыл бұрын
Thanks for the feedback!
@user-rw1rq8jz6g
4 ай бұрын
I retired at 65 and was forced to contract out 6 years prior to then. I do not get full pension but paid n. i . for over 35 years. Do I continue to get less for the rest of my life because of 6 years?
@risenshine2783
3 ай бұрын
Same as millions of us, it is theft, all nhs, govt workers and more we werent told about what would happen in 2016 It is highway robbery
@niceandcurly
Жыл бұрын
State pensions will be means tested. So don't save. Spend all your money and then when you're old you'll be one of those that need help, poor you. Gov is not going to reward you for saving money, they're going to punish you because you have too much. So spend it. We'll all get universal basic income by then
@stoobydootoo4098
Жыл бұрын
??? When is means testing coming in? My SP will start in May. I'll still receive my Occup P, though I'll now pay some tax on it.
@petekadenz9465
10 ай бұрын
There are two state pensions: (1) the basic state pension, which is based on one’s national insurance record; and (2) the Pension Credit, which is means-tested. This two tier system was introduced by the postwar Labour government and has remained in place since then (briefly supplemented by SERPs and subsequently by the Second State Pension). The likelihood of the NI-based basic State pension being replaced by a universal basic income is very remote.
@al1961
9 ай бұрын
Thanks for the great video, I’ve been living abroad from 2003-2005 and 2008-to present. Is there anyway I can pay for all those lost years?
@carlrobertsifa
9 ай бұрын
You can usually only go back and pay for the last 6 years
@cowbanchalam9725
Жыл бұрын
My retirement forecast is going down each year. I got my 35 years in when I was made redundant in 2010 and moved abroad. I can understand it being less but I can't understand why it is decreasing
@tarana9329
Жыл бұрын
I don't get the bit about some people getting more than the state pension.
@carlrobertsifa
Жыл бұрын
Hi Tara, Under the old State Pension system, higher earners could build up more State Pension than the normal basic amount. This is no longer the case going forward under the new system. People that have built up partly under the old and new system will have their higher amounts protected.
@tarana9329
Жыл бұрын
@@carlrobertsifa does that mean the new system disincentivises working beyond 35 years if there is no individual need? If so old system sounds better! Thanks for getting back to clarify.
@JAMESBOND69able
Жыл бұрын
Brilliant thanks.
@UncleMort
Жыл бұрын
What I find most annoying ( and may be missed by many that do not check) is that the government tax/pension website states clearly that you need 35 years full NI contributions to receive the full state pension. I have checked my personal statement and it clearly says that I have 35 years full NI contributions but also need to pay another 3 years full contributions to qualify for the full pension. So "full years contributions" may or may not actually be "full years" but show as "full years" without any indication as to which ones are "full years" and which are not actually "full years".
@carlrobertsifa
Жыл бұрын
It's definitely confusing. You are spot on there!
@mdanie4756
Жыл бұрын
that is my frustration too - and I have concluded that "full year" is merely an indication that the year can count as a NI contribution year. They need to state which of those years is contributing to the magic 35 year threshold. A rather deliberate obfuscation in my opinion! Many other frustrations with the website too, no answer/acknowledgement of letters and no answer to phone calls. Not a great service.
@mindsprawl
Жыл бұрын
that mic is really quiet.
@carlrobertsifa
Жыл бұрын
Apologies. Will look to improve the sound.
@maxelbrig1315
Жыл бұрын
Awesome content. I have finally gained access to my pension account and can now review its details. I wanted to seek your advice regarding whether I should pay for all the shortfalls or just a few specific years that I have missed. I have attempted to contact the future pension center for guidance, but unfortunately, it has been difficult to reach them and obtain any advice. Therefore, I am reaching out to you in search of expert advice. So far I've got 4 years of full contributions, 11 years I did not contribute enough, so I've got 28 years to contribute before 5 April 2051 Should I make up the payment shortfalls in full or are there other considerations to take into account? I greatly appreciate any guidance you can provide on this matter. Thank you for your assistance.
@GallahersGreen
6 ай бұрын
Good video, but you need to work on your audio. You're very quiet.
@carlrobertsifa
6 ай бұрын
Thanks for the feedback. New microphone is on the way!
@llamudos9809
3 ай бұрын
We were forced to contract out we had no choice.
@carlrobertsifa
3 ай бұрын
Hopefully the enhancement in your workplace pension was worth it?
@llamudos9809
3 ай бұрын
@@carlrobertsifa I was very young when i was opted out 18-21. When i left employment at 21 for uni i forgot about the pension). I then swapped it into pension be a couple of years ago as i had not contributed into it 2 decades. I only actually realised the importance of a pension late on in life and only started paying into private work based pension later in my career (1998 (28) luckily i have paid in extra contributions and had the luck to pay into a DB. I have 33 years now in my state pension and hope to leave work in 2 years. at 56. I have 23 years in a DB and will have 4 years in a DC and the small pensionbee SIPP (the opted out pension) that's only worth~ £25k. I would tell any one first starting off into work to get as much information on pensions and start saving as much as you can. I use the 20% rule: 20% Food 20% Mortgage 20% bills 20%Savings (savings) 20% Fun We always overpaid the mortgage (paid 2 mortgages off early) now simply save £50/ day for retirement (on top of pensions) i have been fortunate. Many fail to save for a rainy day and are not taught at school the need to save and the importance of pensions
@matsuz100
Жыл бұрын
Thank you Carl that was most helpful.
@carlrobertsifa
Жыл бұрын
Thank you for the feedback Graham.
@33norrie
Жыл бұрын
Thanks for the video, very informative. I have paid 40 yrs contributions towards my state pension however i have 1 tear where I was contracted out due to having my daughter but I was unable to fill this gap. I’m told i’m entitled to COPE payment as the reason i lost a years contributions was due to child benefit payments (this was 1977-78) and home responsibilities protection. Have you any idea what this is?? Thanks
@carlrobertsifa
Жыл бұрын
I'm sorry, it's probably best to contact the State Pension team. They are usually very helpful.
@lusty444
Жыл бұрын
I paid National insurance for 41 years and was contracted out for four years so does this mean I’ve paid in for 37 years?
@mange2
Жыл бұрын
I have paid 36 years contributions, but will I still receive full state pension if I made no more contributions?
@rogeredmunds5806
Жыл бұрын
You can get a "State Pension Forecast" online. If you aren't confident using the internet, it isn't difficult, but maybe get somebody to sit down with you to help. Most people under 45 would be able to do this easily. The forecast will confirm how many complete years you have, and if you have a minimum of 35, you qualify for the full basic state pension.
@kanderson4417
Жыл бұрын
Your better off having your own pension plan just buy shares every month during your working life.
@iambraindead1
Жыл бұрын
So I have 49 years full contributions, I paid in to SERPS and Graduated Contributions, still no full pension any idea why?
@carlrobertsifa
Жыл бұрын
Best to check with the State Pension team. They are usually helpful in explaining.
@georgebullock7923
6 ай бұрын
to lambraindead. you get 4:26 the old pension rate plus serps graduated pretension added together . this exactly same as mine hope this helps . you can as dwp for a breakdown but you should normally have this info when you receive your rates each year . hope this helps
@grahamsummers6344
Жыл бұрын
The online government forecast, does that take into account contacted out?
@grantmail4112
Жыл бұрын
Hi Carl.. Can you help to tell me if you have now completed 35 yrs Tax Returns and still have a long way to go till retirement.... can I stop paying any further voluntary contributions to Class 3? As I'm self employed.... as I would be paying for nothing? Will I lose the 35 yrs I have paid in if I no longer make any further voluntary contributions? Thank you.
@carlrobertsifa
Жыл бұрын
Hi Grant. You shouldn't lose the benefit linked to what you have already paid. You will still need to pay NI up to State Pension age if you are still working (depending on profit if self employed). But may not need to pay voluntary class 3. Best to check your State Pension forecast online to see of if you have full State Pension forecast.
@mohamedpatel3978
Жыл бұрын
Hi Carl. Thanks for a great video but I'm a bit confused. I have a Police pension and retired 2009 after 30yrs. Everyone was contracted out then. I started a new job a Yr later and have paid full NI. Would I get reduced state pension but topped up by Police pension. What happens to the last 12 years that I paid full Ni. I am 63.
@carlrobertsifa
Жыл бұрын
The best thing to do is to get a copy of your State Pension forecast as this will tell you your latest record and what you are due. You can get this via the State Pension Forecast site.
@jonathanlake6053
3 ай бұрын
People are living longer the state pension is not sustainable, less people are working,more people are on benefits and the bill is increasing daily, money is being pumped into feeding,clothing & housing illegals, who will end up being looked after when they reach retirement age,whilst the rest of us who worked since 14 & 16 years of age,still end up paying tax on private income.
@carlrobertsifa
3 ай бұрын
You’re right in saying that the State Pension does look unsustainable in its current form. Surely it’s only a matter of time until the state pension age rises again.
@christy140
2 ай бұрын
PENSION CREDIT..HELLO..👋👋👋👋👋don’t know what you are TALKING ABOUT..EMBARRASSING
@wontbelongnow5567
Жыл бұрын
Even if you don't qualify for full state pension. They will make it up by giving you pension top up also the less you get the more you can claim in other benefits. So don't top up your state pension. 30% people will won't make state pension age, and the rest will be ill before state pension age and have to finish early or be to ill to enjoy retirement. So live for today and let tomorrow sort it self out .enjoy life .
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