Dave and Central Cee are on track to spend a full month at Number 1 on the Official Singles Chart.
06.06.2023 - 17:46 / dailyrecord.co.uk
Time is running out for people to buy credits to plug any gaps in their National Insurance (NI) record for any missed years of contributions from as far back as April 2006. The UK Government extended the deadline from April 5, 2023 to July 31, 2023 after the original deadline saw a surge of people trying to contact the Future Pension Centre phone line, but unable to get through.
As a result, the Department for Work and Pensions (DWP) extended the deadline by three months and deployed more staff to handle the increased call volume. To get the full New State Pension in retirement, you need around 35 years’ worth of NI contributions and to receive any payment from it at all, you need at least 10 years.
Buying back missed years can be a good way to boost later-life income as the New State Pension is worth up to £10,600.20 over the 2023/24 financial year - paid every four weeks at £203.85.
Buying just one qualifying year of NI at the standard rate of £824.20 adds up to £275 per year - 1/35 of the full rate of the State Pension - to your pre-tax State Pension.
The breakeven point of making those contributions is three years after you start claiming your State Pension, so it’s a worthwhile investment for the many years of retirement to come - if you can afford to do so.
The UK Government has been allowing people to retrospectively build their April 2006 to April 2016 NI record through voluntary contributions, as part of transitional arrangements introduced alongside the new State Pension. However, from August 1, only missing NI contributions over the past six years can be bought.
Alice Haine, Personal Finance Analyst at Bestinvest, the DIY investment platform and coaching service, explains: “If you live 20 years beyond the current
Dave and Central Cee are on track to spend a full month at Number 1 on the Official Singles Chart.
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An estimated 700,000 people are due to retire over the 2023/24 financial year and join the 12.6million already in receipt of their State Pension payments from the Department for Work and Pensions (DWP). Some 2.9m people claiming the New State Pension are now receiving regular payments of up to £203.85 each week, and as the contributory benefit is usually paid every four weeks, this amounts to £815.40 per pay period.
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A new website has launched to help UK songwriters understand the different bits of data that they need to generate and provide every time they write a new song.The Get Paid Guide has been launched following the recent signing of a metadata agreement by the British music industry. That was one of the outputs of the economics of music streaming work instigated by the UK government’s Intellectual Property Office in response to Parliament’s big old inquiry into the workings of the digital music business.When new recordings are delivered to streaming services, generally only the recording is uniquely identified by an industry standard code – that being the ISRC.
The UK Government has announced that taxpayers now have until April 5, 2025 to fill gaps in their National Insurance (NI) record from April 2006 that may increase their State Pension - an extension of nearly two years on the July 31 deadline.
Martin Lewis is urging older people on a low income to check if they should claim a “crucial” annual income top up from the Department for Work and Pensions (DWP), worth an average of £3,500. He called it a “tragedy” that up to one million people of State Pension age are missing out on financial support they are entitled to through Pension Credit.
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The Little Mermaid has been criticized by a prominent media diversity advocate for failing to acknowledge the horrors of slavery in the Caribbean.