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Not necessarily with company pensions eg final salary. If I cark it though mine will pay the missus half rate and vv. Some just stop - as does state pension.weeksy wrote: Sat Feb 07, 2026 8:32 am Surely in that circumstance person 2 gets the pension of dead person 1 in most circumstances?
So yes then. MostlyCount Steer wrote: Sat Feb 07, 2026 8:37 amNot necessarily with company pensions eg final salary. If I cark it though mine will pay the missus half rate and vv. Some just stop - as does state pension.weeksy wrote: Sat Feb 07, 2026 8:32 am Surely in that circumstance person 2 gets the pension of dead person 1 in most circumstances?
They're getting less common though and yes, at the moment, I think you inherit the full pension pot of a SIPP without inheritance tax. A financial adviser will know more though.
Since most people aren't currently drawing pensions then absolutely 'yes' for most of the population.weeksy wrote: Sat Feb 07, 2026 8:43 amSo yes then. MostlyCount Steer wrote: Sat Feb 07, 2026 8:37 amNot necessarily with company pensions eg final salary. If I cark it though mine will pay the missus half rate and vv. Some just stop - as does state pension.weeksy wrote: Sat Feb 07, 2026 8:32 am Surely in that circumstance person 2 gets the pension of dead person 1 in most circumstances?
They're getting less common though and yes, at the moment, I think you inherit the full pension pot of a SIPP without inheritance tax. A financial adviser will know more though.
Reminds me of a heated conversation in our local Oxfam books. Aged volunteer was objecting to all the briefings and general management guff that staff were subjected to - to the manager.Dodgy69 wrote: Sat Feb 07, 2026 9:28 am Retirement isn't for everyone. I know plenty of folk in their late 60s/70s who keep working just for "something to do". They don't need the money, they pay plenty of tax, but without working they would struggle.
My tolerance for idiots as i get closer to retirement is going up. I basically told our estate agent he was a useless arsehole yesterday, in a slightly more polite way, but the point was clearCount Steer wrote: Sat Feb 07, 2026 9:41 amReminds me of a heated conversation in our local Oxfam books. Aged volunteer was objecting to all the briefings and general management guff that staff were subjected to - to the manager.Dodgy69 wrote: Sat Feb 07, 2026 9:28 am Retirement isn't for everyone. I know plenty of folk in their late 60s/70s who keep working just for "something to do". They don't need the money, they pay plenty of tax, but without working they would struggle.
'You're trying to make this feel like a job with all the buggeration but none of the salary'.
He didn't stay long.
One element is 'identity'. In a social situation, you meet someone, they're likely to ask "what do you do?". When you retire, that easy answer is gone.Dodgy69 wrote: Sat Feb 07, 2026 9:28 am Retirement isn't for everyone. I know plenty of folk in their late 60s/70s who keep working just for "something to do". They don't need the money, they pay plenty of tax, but without working they would struggle.
Hmmm ... There's a lot of that with the ambulance stuff, online compliance training, etc.Count Steer wrote: Sat Feb 07, 2026 9:41 am Reminds me of a heated conversation in our local Oxfam books. Aged volunteer was objecting to all the briefings and general management guff that staff were subjected to - to the manager.
'You're trying to make this feel like a job with all the buggeration but none of the salary'.
My Dad took early retirement and always said he never knew how he had the time to work! He had a few hobbies though, painting, shooting etc. He also said that in his experience, there were two types of retired people: those who were grateful for every day above ground and the opportunity to do things, and the others who went from their bed to their chair and used their time to moan about everything! I've found as a generalisation, its a pretty accurate one!Dodgy69 wrote: Sat Feb 07, 2026 9:28 am Retirement isn't for everyone. I know plenty of folk in their late 60s/70s who keep working just for "something to do". They don't need the money, they pay plenty of tax, but without working they would struggle.
They need a purpose and mental stimulation from work is their fix. I on the other hand are quite happy tatting about. It's a bit shitty with all this rain but I can still find something to do and chill out when I want. Yesterday I spent a few hours on Google maps looking at a route to take the monkey away for a couple of days. Roll on sunshine.
People are different.
I retired at 54 and never looked back. Life is to have fun. Not to work.Taipan wrote: Sat Feb 07, 2026 10:51 amMy Dad took early retirement and always said he never knew how he had the time to work! He had a few hobbies though, painting, shooting etc. He also said that in his experience, there were two types of retired people: those who were grateful for every day above ground and the opportunity to do things, and the others who went from their bed to their chair and used their time to moan about everything! I've found as a generalisation, its a pretty accurate one!Dodgy69 wrote: Sat Feb 07, 2026 9:28 am Retirement isn't for everyone. I know plenty of folk in their late 60s/70s who keep working just for "something to do". They don't need the money, they pay plenty of tax, but without working they would struggle.
They need a purpose and mental stimulation from work is their fix. I on the other hand are quite happy tatting about. It's a bit shitty with all this rain but I can still find something to do and chill out when I want. Yesterday I spent a few hours on Google maps looking at a route to take the monkey away for a couple of days. Roll on sunshine.
People are different.
Not sure how I managed it but I retired at 55 and got a full state pension at 65. I think that NI credits must be made when in full-time further education + I was Physics Lab technician as a part time job in my last 2 years at school and that must have made contributions + my undergraduate course included 2 stints of industrial training that were waged. I did check the situation on the government pension checker before I quit and it confirmed I'd get the full £.IccyV2 wrote: Sun Feb 08, 2026 6:58 am They way it seems set up is that if you’re retired early and have no income that you pay tax on, then you don’t get NI credits and unless you already have 35yrs NI paid in, then you won’t get a full UK state pension.
That's absolutely ludicrous - I didn't know that. Strewth, with the rise of the 'gig economy' and other trends in the labour market there's going to be a shed load of people not getting full pensions and having minimal other provision.IccyV2 wrote: Sun Feb 08, 2026 7:29 am It used to be 30yrs qualified you but they changed it to 35.
What is also incredibly annoying is that only full years count. So when I was a contractor I would work 48-50 weeks out of the year and then take two or four weeks holiday. I didn’t get paid for time off so I didn’t pay NI in those weeks. So I’ve got quite a few years where I paid 48 weeks NI but they don’t count towards my pension because they’re not full years.
If that’s not a scam I don’t know what is.
Their rule-changing is certainly frustrating.IccyV2 wrote: Sun Feb 08, 2026 6:58 am They way it seems set up is that if you’re retired early and have no income that you pay tax on, then you don’t get NI credits and unless you already have 35yrs NI paid in, then you won’t get a full UK state pension.
We have always paid a voluntary stamp but they've realised that for around £15 a month people were building up credits that would give them a full pension. So they stopped it and now NI credits are the same as the state pension, e.g. class three credits paid voluntarily will be about £1000 a month, so you can receive that back come pension time, if they haven’t changed the rules.
So we’re in the position now that we can’t pay a voluntary stamp and we won’t be able to retire properly at 55 because we’ll need to earn NI credits to get our pension, so we’ll have to take 2 days a week stacking shelves somewhere.
To compound my plans my guess is that within 15yrs they’ll make the state pension means tested and if you retire with anywhere near a decent pot then you won’t get it anyway even though you will have factored it into your plan and will struggle without it.
Wasn’t there a process for keeping the Stamp up to date when idle though?IccyV2 wrote: Sun Feb 08, 2026 7:29 am It used to be 30yrs qualified you but they changed it to 35.
What is also incredibly annoying is that only full years count. So when I was a contractor I would work 48-50 weeks out of the year and then take two or four weeks holiday. I didn’t get paid for time off so I didn’t pay NI in those weeks. So I’ve got quite a few years where I paid 48 weeks NI but they don’t count towards my pension because they’re not full years.
If that’s not a scam I don’t know what is.
You could pay the self employed stamp. I paid it from around 1989 to 1993, I think it was £4.50 a week.JackyJoll wrote: Sun Feb 08, 2026 9:33 amWasn’t there a process for keeping the Stamp up to date when idle though?IccyV2 wrote: Sun Feb 08, 2026 7:29 am It used to be 30yrs qualified you but they changed it to 35.
What is also incredibly annoying is that only full years count. So when I was a contractor I would work 48-50 weeks out of the year and then take two or four weeks holiday. I didn’t get paid for time off so I didn’t pay NI in those weeks. So I’ve got quite a few years where I paid 48 weeks NI but they don’t count towards my pension because they’re not full years.
If that’s not a scam I don’t know what is.
Missus says she paid annually so got a full year each time. £18/month sounds about the right rate.JackyJoll wrote: Sun Feb 08, 2026 9:33 amWasn’t there a process for keeping the Stamp up to date when idle though?IccyV2 wrote: Sun Feb 08, 2026 7:29 am It used to be 30yrs qualified you but they changed it to 35.
What is also incredibly annoying is that only full years count. So when I was a contractor I would work 48-50 weeks out of the year and then take two or four weeks holiday. I didn’t get paid for time off so I didn’t pay NI in those weeks. So I’ve got quite a few years where I paid 48 weeks NI but they don’t count towards my pension because they’re not full years.
If that’s not a scam I don’t know what is.
Something makes me think there was. As a man who actually worked all his life, I’ve no first hand experience, obviously.
It's currently about £15 a month, we both pay it, but the last payment will be June/July 2026, then there seems to be a gap, then starting from 2028 you can buy a voluntary class 3 stamp which is roughly £1000 a year.Pirahna wrote: Sun Feb 08, 2026 10:56 amYou could pay the self employed stamp. I paid it from around 1989 to 1993, I think it was £4.50 a week.JackyJoll wrote: Sun Feb 08, 2026 9:33 amWasn’t there a process for keeping the Stamp up to date when idle though?IccyV2 wrote: Sun Feb 08, 2026 7:29 am It used to be 30yrs qualified you but they changed it to 35.
What is also incredibly annoying is that only full years count. So when I was a contractor I would work 48-50 weeks out of the year and then take two or four weeks holiday. I didn’t get paid for time off so I didn’t pay NI in those weeks. So I’ve got quite a few years where I paid 48 weeks NI but they don’t count towards my pension because they’re not full years.
If that’s not a scam I don’t know what is.
Tbf, if they've done 5 hours a week for 50 years I'm not sure they deserve a pension. Its got to have a certain level of fairnessIccyV2 wrote: Sun Feb 08, 2026 2:44 pmIt's currently about £15 a month, we both pay it, but the last payment will be June/July 2026, then there seems to be a gap, then starting from 2028 you can buy a voluntary class 3 stamp which is roughly £1000 a year.
The best way around it is to earn enough to pay NI, or earn between £125-250 a week and then you don't pay NI because you're under the threshold, but you do get a full class 1 stamp credit as if you have paid it. If you earn <£125 a week you do not get any NI credit, so a dinner lady doing an hour a day five days a week on minimum wage won't get it, someone could do that for 50yrs and still not be entitled to any pension.