When will you be able to retire and put your feet up?!

[moonwitch]

Sunnybooks did you see my last post to you from last night?

Baby RedMerlin, Somerset & Maplegin have you ever wondered why the government starts our new tax year on April 1st ? !!!

Yes I did - but the link didnt work

The pension isnt enough to pay for my working so I will have to carry on housing whether I get the full amount or not

[cornishmaid1961]

Yes I did - but the link didnt work

The pension isnt enough to pay for my working so I will have to carry on housing whether I get the full amount or not

That's weird! It was working OK when I put it on because I checked it. I just went back to the original one and that was still working! I've done a copy and paste for you just in case that vanishes too!
Still worth making the effort to chase it up as it might mean you can work a few hours less.


Tens of thousands of women who gave up work to raise children are in line for a pension windfall of around £3,000.
The Government has caved in to demands to close a loophole which meant stay-at-home mothers missed out on credits that would boost their pensions.
Ministers have pledged to trawl through masses of social security records dating back to the 1970s to pinpoint how many women are owed money.
Tens of thousands will be eligible for extra cash, with average payouts of around £3,000.
For hundreds of female pensioners, the money will help ease the struggle to pay for food, heating, clothing and other everyday costs.
Liberal Democrat MP Steve Webb, who has campaigned on the issue, said: "Far too many women are still living on a woefully inadequate pension.
"What is especially shocking is that in some cases they should be getting far more but the system is letting them down.
"I welcome the fact that now we have alerted the Government to these problems, officials are going to identify thousands of women and pay them a decent pension for the first time."
The issue centres on the payment of Home Responsibilities Protection, which was introduced in 1978 to build up the basic state pension for mothers who took a career break.
Usually, a person needs to work for 39 years to have sufficient National Insurance contributions to qualify for a full state pension.
But HRP reduces the number of years needed - meaning women who stay at home to raise children are not penalised.
For every year a mother claims Child Benefit, a year should be knocked off the number of working years required - up to a maximum of 19.
For example, a woman who quit her job for 16 years to raise a family would only need to work for 23 years to pick up the basic state pension, which is currently £87.30 a week.
But mistakes, omissions, and shoddy record-keeping at Government departments meant tens of thousands of women who claimed Child Benefit were missing HRP entitlements.
It is thought the problem stems from the fact that National Insurance records were kept by a different Whitehall ministry.
Every year of HRP missed works out at about £2 a week - or £104 a year. So if ten years of HRP were omitted from a mother's records, she would lose £1,000 a year in pension payments.
Mr Webb uncovered the situation and raised the issue with Pensions Minister Mike O'Brien, who has pledged to act.
The Department for Work and Pensions and HM Revenue and Customs will scan millions of National Insurance records to identify all women who are over or approaching retirement age and are recorded as not being entitled to a full pension.
Those who are potentially affected by the blunder will be contacted.
Mr O'Brien said: "I am concerned to ensure that any losses of pensions rights resulting from HRP not having been taken into account in the calculation are remedied."
In one case his department found a woman had missed out on 18 HRP years - meaning her pension was £1,850 less than it should have been.
Earlier this year the Mail highlighted how thousands of women who stayed at home to raise children or care for elderly relatives will lose up to £28,500 each because of a forthcoming pensions shake-up.
From April 6, 2010, a woman will have to work for only 30 years to qualify for a full state pension.
But 1.2million women who reach the retirement age before then - even if it is a day earlier - must have worked for 39 years.
Mr Webb discovered the "cliffedge" created by the cut-off date meant a typical woman who quit work for nine years to raise her children would lose thousands of pounds over the rest of her lifetime.

[moonwitch]

by my calculations - I worked 4 years after I left school - then there was a 2 year gap before I qualified for child benefit.

I didnt start paying national insurance until 2 years ago when I was 46 - so my guess is that I need to work 26 years from 2 years ago to make up my 30 years to qualify for a full pension - I will be 72

[cornishmaid1961]

by my calculations - I worked 4 years after I left school - then there was a 2 year gap before I qualified for child benefit.

I didnt start paying national insurance until 2 years ago when I was 46 - so my guess is that I need to work 26 years from 2 years ago to make up my 30 years to qualify for a full pension - I will be 72

Give them a buzz. The number is 084591 54655. Make sure they have recorded the length of time where you have received your child benefit and also worth mentioning that you have been caring for your daughter and any other medical entitlements. When you are sure they have all the details ask them to send you a pension forecast so you have it in writing. They might give you the option to pay a little more each month to catch up a bit.