What are high NI contributions getting me, exactly?

[warrenboon]

Sorry if it's an obvious question, but will there be a difference in my state pension, if I am paying big amounts of NI contributions?
Is there a calculator somewhere which shows that?

Additional State Pension (ASP). Allegedly:

"How much you get depends on your earnings and whether you’ve claimed certain benefits. There is no fixed amount like the basic State Pension."

Good luck trying to work out how much you'll get...

[Brussels Slumdog]

Sorry if it's an obvious question, but will there be a difference in my state pension, if I am paying big amounts of NI contributions?
Is there a calculator somewhere which shows that?

Thats why contractors operate through a LTD company and pay themselves the minimum salary to qualify for minimum yearly NI contribution.

You could theoretically work one or two months a year to qualify for minimum yearly NI contribution in the UK and work the other 10 months in another EU state ,possibly qualifying for 2 state pensions

[Old Greg]

Don't worry - it won't apply to you - you're special

I'm pretty safe, Lisa.

[LisaContractorUmbrella]

What is this 'Inside IR35?'

Don't worry - it won't apply to you - you're special

[Old Greg]

I'd certainly hope so having run one for 11 years Basically you'd pay no more than if you had your own ltd and you were inside IR35

What is this 'Inside IR35?'

[LisaContractorUmbrella]

Do you know how much NI I'd pay if I went through a brolly?

I'd certainly hope so having run one for 11 years Basically you'd pay no more than if you had your own ltd and you were inside IR35

[Old Greg]

Why??

Do you know how much NI I'd pay if I went through a brolly?

[VectraMan]

If you never paid any NI at all in your life, what would you not get? The state isn't going to let you starve at 65, you're going to get income support/housing benefit if you need it. It only makes a difference for the people that don't need state help.

[LisaContractorUmbrella]

Best not get involved with umbrellas then, Lisa?

Why??

[Old Greg]

No but you will have a nice warm fuzzy feeling from knowing that you are giving money to the Government to provide a Utopian State for all

Best not get involved with umbrellas then, Lisa?

[LisaContractorUmbrella]

Sorry if it's an obvious question, but will there be a difference in my state pension, if I am paying big amounts of NI contributions?
Is there a calculator somewhere which shows that?

No but you will have a nice warm fuzzy feeling from knowing that you are giving money to the Government to provide a Utopian State for all

[Old Greg]

Sorry if it's an obvious question, but will there be a difference in my state pension, if I am paying big amounts of NI contributions?
Is there a calculator somewhere which shows that?

No. They just haven't worked out how to roll it into Income Tax yet. I smell government IT contract work, if they can find anyone to take it.

[yasockie]

Sorry if it's an obvious question, but will there be a difference in my state pension, if I am paying big amounts of NI contributions?
Is there a calculator somewhere which shows that?