Providing an example, interactive investor said if someone was claiming Child Benefit for 15 years and not working, they could be entitled to an additional 15 years of National Insurance (NI) contributions.īased on the value of the new state pension, which is currently £10,600 per year, these 15 years of lost NI credits are potentially worth £4,543 additional state pension per year, or £96,914 over 20 years (not including inflation).Īlice Guy, Head of Pensions and Savings, interactive investor commented: “It’s a tragedy that many women are living in unnecessary poverty due to this latest problem with the state pension. The losses could, however, represent “life-changing” amounts of money, experts at interactive investor have warned, and are urging the Government to work hard to contact people as soon as possible to rectify the errors.
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