State pension: Child benefit and childcare rules can allow sharing of NI credits – how? | Personal Finance | Finance


National Insurance credits can be awarded where a person is not able to pay National Insurance through usual methods, such as when they’re claiming benefits because they’re ill or unemployed. These credits can help people fill gaps in their National Insurance record and make sure they qualify for state pension.

To receive any amount from a state pension, at least 10 years of National Insurance contributions will be needed.

The full amount of £175.20 per week will require at least 35 years.

Come April, the full state pension will rise to £179.60 per week as triple lock rules increase payments by 2.5 percent.

This means state pensioners will receive £9,339.20 from their payments throughout 2021.

The government will allow people to check on their state pension age through a free-to-use tool on their website.

This tool will allow people to see when they’ll reach state pension and pension credit age and check on when they can qualify for free bus travel.

All that’s needed is the user’s date of birth and once that has been entered, an exact date will be presented for when their state pension can be claimed.

The government also has tools for checking on National Insurance records, receiving a state pension forecast and paying voluntary contributions.

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