Posted on 30/04/2016 13:35
I hope this does not upset anyone but thought as there was a post mainly for us retired people to discuss what we do at our leisure that there should also be a post for those still working to post. Just as some might be jealous of our freetime, some might be missing work cammeradery.
Posted on 04/07/2016 13:53
Incidentally, once you get to your State Pension age, you will not have to pay NI any longer.
Do I need to apply to stop NI contributions?
Only if you are an employee, you would then need to request an exemption certificate to give to your employer.
If you are self employed you pay Class 2 contributions up till you are 65, then HMRC will know that you are exempt.
You should also read this.......
https://www.gov.uk/self-employed-national-insurance-rates
Posted on 04/07/2016 20:38
Incidentally, once you get to your State Pension age, you will not have to pay NI any longer.
Write your comments here...It's my 65th birthday on 18th August, KjellNN, so I suppose I'll need to apply for my state pension on that date or can it be done earlier? I wonder whether it is paid weekly or monthly. If monthly, I presume I'll receive the first payment on 18th September, is that right? Perhaps they allow you to choose whether weekly or monthly? Do I need to apply to stop NI contributions?
State pension is now usually paid every 4 weeks (so 13 equal payments a year - not calendar months). When you start getting your pension you will get a new tax code, which should be passed on to any other employers, personal pension providors etc.
You do not have to claim your pension as soon as you are eligible - you can delay it, and then you do start to claim it is more.
But don't take my word for all of this!
Write your comments here...Thanks Goldie. That seems correct from what the pension department told me. I chose to claim mine as soon as I'm eligible. Except the first payment is after three weeks. After that it's four weekly.
Posted on 04/07/2016 20:47
Correct, Goldie, although you can chose to be paid weekly but they don't 'advertise' the fact.
Malcolm should have received a letter with a pension forecast and asking him whether he wanted to start receiving it.
You need to ring them - you won't just automatically get it. If you don't tell them you want to be paid, they assume that you want to defer it.
They will look at your NI record in order to assess how much you get.
They will usually transfer you to the Pension Credit department who will then check whether you qualify for pension credit. They will ask about your employment history if they have no record of tax and NI payments for recent years. Hope you have some good answers ready!
Write your comments here...They didn't offer me the weekly option. There was no mention of that!
They did offer pension credit though but said it was means tested. I explained to them that my income from self -employment was variable. I will know by the end of the tax year how much I earned. They said they would send me the form with notes explaining it.
They understood that the tax and national insurance position will become clearer by the end of the tax year when the tax return is submitted.
I never received any letter about it but I did get a pension forecast online.
Posted on 04/07/2016 20:53
Looks like you need an exemption certificate then, Malcolm.....
Write your comments here...I'm registered as self-employed so it seems not. I'll be required to submit a tax return on 31st January and presumably they will notify me how much to pay in class 2 NI contributions up to 18th August 2016.
just what I needed! 
cariadon
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