Friday, July 31, 2009

What percentage of the 11% an individual pays for N.I.C class 1 goes towards their state pension?

Zero - its a complete con. If you are under 45, it is extremely unlikely that the state pension will be worth anything when you retire. If you can't afford to make a decent pension provision then don't bother and rely on state benefits instead.

What percentage of the 11% an individual pays for N.I.C class 1 goes towards their state pension?
There is no set percentage that I'm aware of. You just have to make regular contributions to qualify for a full state pension. If you miss any (due to unemployment or living outside the country) you may receive less when you retire. If you go to the The Pension Service, they can give you a projection of how much your pension might be, and whether you are missing any NI Contributions.

dried flowers

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