Excess NI Contributions?

None whatsoever

tim

No value to the OP, but it does reduce the national debt.

If you're not yet drawing your state pension then there's a chance that a future government could changed upward the number of qualifying years required.

If you want a cheap way of gaining QY, register as self employed and pay flat rate class 2 contributions of £125pa - voluntary class 3 contributions cost £627pa.

They wouldn't, would they? No, not in a million minutes. :-)

That's exactly why I, as a self employed person whose profits are below the level at which I could apply for exception from the need to make class 2 NI contributions, am voluntarily abstaining from so doing, although I now have the full number of QY under my belt (but would not have, were it not for the fact that the number required was reduced a few years ago).

You can't just register as self employed unless you actually are self employed, can you? One presumes that someone somewhere will check that you submit a tax return annually, including appropriate information on the self employment pages thereof.

Otherwise there would be no point in having the class 3 tariff.

I felt cheated when they reduced the number of qualifying years, after being pushed into early retirement at 58, and having to undergo the fortnightly visit to the job centre for 18 months to ensure the full state pension. I applied for a few jobs, but soon realised that nobody wanted a retired programmer, and ex-draughtsman, even in clerical D/O jobs. So I learned to bluff my way through the embarrassing interviews and pathetic job offers.

I survived on the modest final salary pension and 10% savings rates until 65, just after Blair was elected, and in retrospect, like most people aged 70-80 who had paid enough SERPS to enhance the state pension, I now consider that I am one of the lucky generation. I certainly improved my lot under the Blair/Brown government, whatever is said about them.

Thanks to all who have replied.

Great minds think alike :)

It's easy enough to be self employed - do some gardening/repairs/mend a computer for someone every so often for cash - but even so I wonder how effective HMRCs checks are if you just fake invoices that are suposedly paid in cash.

Having run a Limited company, I find the self employed tax pages simple enough -